Retail gold prices in Dubai edged lower on
Monday as global investors tried to score some gains following a recent price
rally.
As of Monday morning, 24-carat gold was retailing at
Dh136.75 per gram, down from Dh137 a day earlier, but still higher compared to
most of last week’s prices. Twenty two-carat gold was trading at Dh130, while
21K and 18K stood at Dh124.50 and Dh107.75, respectively.
Spot gold eased 0.3 per cent to $1,134.91 an ounce
by 0635 GMT, according to a Reuters report. Last Friday, the bullion increased
by 2.2 per cent, the most significant price increase recorded in one day since
January 2015.
Investors are normally in the mood to sell when
prices rise, in order to secure some gains.
Gold market experts had earlier said they expect the
bullion to post some gains this week after weak employment data in the United
States dampened expectations of an interest rate increase from the Federal
Reserve.
Job creation in the United States slowed down last
month, with the economy adding only 142,000 jobs in September, much lower than
the 304,000 forecast.
Gold Rate: To keep up to date with
gold prices, go to our gold rate
page.
Currency Rate: To keep up to date with
latest exchange rates, go to our currencies page.
No comments:
Post a Comment