Dubai – Gold rate in Dubai today down one Dirham per gram with the decline in the world price of gold
In Dubai the city of gold, Gold prices in the UAE for Gram 24k DH 157 , gram 22 carat DH 149 , Gram- 21k DH 140 and settled gram 18k DH 123 .
Gold prices fell for a second day in a row in light of improved US data at the time it fell on fears the global geopolitical tensions that have supported gold prices since the beginning of this year.
Gold prices have fallen to record levels of $ 1299.72 per ounce after starting the day at coefficients $ 1304.48 per ounce and recorded the highest so far at $ 1304.48 and the lowest $ 1,297.31 an ounce. On Friday, prices fell to previous levels of $ 1292.00 and the lowest since August 6 this month.
Gold has risen since the beginning of this year by about 8% since the beginning of this year, and even now with the support of the global political tension and trimming of the drop experienced in 2013 after losing a third of its value in the light of speculation withdraw stimulus from the Fed.
The markets are watching this week’s announcement of the minutes of the Fed meeting, which was held in July, the former, the Fed is still ongoing in the withdrawal of stimulus plans as announced earlier he was going to be completed in October next under Tgesn the pace of growth of the American economy in general.
But uncertainty dominates the market in terms of the expectation Time rate hike by the Fed, which supports between gold and then the other.
Geopolitical tensions still support higher gold prices hovering around levels of $ 1,300 an ounce, in light of the weakness of the actual demand for the precious yellow metal from China and India, especially as the latter continues to impose high customs tax on imports of gold.
Recent developments in the Middle East is that the Kurds control of the country’s biggest dams American air support against the armed militant groups Daash, while in Ukraine the government announced targeted a convoy of Russian armored vehicles into the country, while the Russian government denies these allegations.
Palladium rose to its highest level since February 2001, recording $ 895.00 an ounce in light of concerns about the size of the display in the markets because of international sanctions on Russia-largest producer in the world this side of the workers strike for six months in South Africa’s second largest producer of the metal globally.