At the beginning of this year, Dubai’s gold prices increased for a second day. According to data from the Dubai Jewellery Group, 22K gold opened Dh0.75 higher at Dh295.25 per gramme, while 24K gold increased Dh1 to Dh319 per gramme. Stores throughout the emirate were selling 21K and 18K gold, two of the other varieties, for Dh285.75 and Dh245 per gram, respectively.
The yellow metal saw its biggest annual gain since 2010 last year, gaining more than 27%, making it one of the best-performing investments. Around the world, at 9.05 a.m. UAE time, spot gold was up 0.36 percent at $2,633.97 an ounce.
Investors and traders were waiting for additional information regarding President-elect Donald Trump’s proposals regarding tariffs on other nations and the US Federal Reserve’s announcement of interest rate cuts. This year, analysts anticipate that the Fed will gradually reduce interest rates. For additional guidance, traders were also anticipating preliminary US jobless claims and US jobs opening data. Given the decline in interest rates, global geopolitical unrest, and political squabbling over tariffs, most analysts are optimistic about the gold market’s prospects for 2025.
Also Read:
Transforming Business Setup in the GCC Region with PG CSP Group: Pavel Gerasimov
