Dubai Gold Prices are Dh141 for 22-karat

Gold prices have fallen, with equity markets near record highs, making safe investment assets less attractive, while optimistic data on US growth and US Treasuries rallied.

Dubai gold prices are Dh 154.763 for 24-karat and 22-karat can be bought for Dh141.75.

Although global equities and bond yields fell later than their highest levels of the session and the US dollar index fell slightly against a basket of major currencies, gold continued to fall, although it remained confined to the narrowest monthly range since 2005.

Silver fell to its lowest level in about eight weeks.

Spot gold fell 0.7% to $ 1284.23 an ounce in late US trading.

US gold contracts for December delivery fell $ 12.80 or 1.00 per cent to settle at $ 1282.10 an ounce.

The price of the yellow metal is still up 12 percent from its 2017 levels.

Gold is highly sensitive to the rise in US interest rates, which increases lost opportunities for precious metal holders who do not generate returns.

Markets expect further rate increases at the end of the Federal Reserve meeting in December.

Among other precious metals, silver fell 1.78 percent to $ 16.53 an ounce, having touched its lowest level since October 6 at $ 16.50.

Palladium fell 1.3 percent to $ 1013.90 an ounce, after hitting a new high of $ 1028.70 since February 2001.

Platinum fell 1.18 percent to $ 937.50 an ounce.

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