Dubai: Gold Prices Inch Higher In Early Trade On Thursday
Date
1/30/2025 4:32:11 AM
(MENAFN- Khaleej Times)
Gold prices inched higher at the opening of the markets in Dubai on Thursday.
The Dubai Jewellery Group data showed 24K opening at Dh334.25 per gram on Thursday morning, up by Dh0.25 per gram. While 22K, 21K and 18K opened at Dh309.5, Dh299.5 and Dh256.75 per gram, respectively.
Spot Gold was trading at $2,760.97 per ounce, up 0.28 per cent as investors were focusing on US President Donald Trump's policies and inflation data in the US.
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The market is also looking forward to the US personal consumption expenditure data for the month of December which is due to be released on Friday to gauge the inflation trajectory.
The US Federal Reserve and the Central Bank of the UAE kept the interest rates on hold on Wednesday. The Fed left its target range between 4.25 per cent to 4.5 per cent.
Bas Kooijman, CEO and asset manager of DHF Capital, said the precious metal prices exhibited limited movement as tariff-related uncertainty compounding market jitters.
“The White House's plans to implement previously announced tariffs on Canada and Mexico starting February 1 could strongly affect the market. In this regard, traders could remain attentive to new developments,” he said.
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