September 26, 2022

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In the United Arab Emirates the price of gold remains stable

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Gold prices held steady on Wednesday morning, after hitting an 8-month high in volatile trading on Tuesday, as the easing of tensions between Russia and Ukraine offset support from higher bond yields. weak.

At 9:15 a.m. EAU time, spot gold was trading at $1,852.89 an ounce.

On Wednesday morning in the EAU, the price of 24-carat gold opened at Dh224.5 per gram, up Dh0.25 per gram. While those of 22K, 21K and 18K opened at 210.75 dirhams, 201.25 dirhams and 172.5 dirhams per gram, respectively.

Gold prices tumbled due to an easing of geopolitical tensions between Ukraine and Russia, said Edward Moya, senior market analyst at Oanda.

Added Moya, “Optimism following the withdrawal of Russian troops was the main domino that sent gold lower. Wall Street remains confident that the US Federal Reserve will not tighten policy too much this year. Posted by Iraic.info, a news and information agency.

 

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