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26/02/2025 06:26 AST
Gold prices slipped at the opening of the markets in Dubai on Thursday as precious metal fell below $2,900 per ounce. At 9am UAE time, the 24K variant of the yellow fell to Dh349.25 per gram, down from Dh350 per gram at the close of the markets on Wednesday.
Among the other variants, 22K, 21K and 18K dropped to Dh324.75, Dh311.5 and Dh267.0 per gram, respectively. Globally, spot gold was trading at $2,896.11 per ounce, down 0.69 per cent at 9.10 am UAE time.
Economic uncertainty and ongoing fears of instability around US President Donald Trump's tariff plans are causing worries among investors and providing some support to the yellow metal as a safe-haven asset. However, movements remain more or less rangebound.
Vijay Valecha, chief investment officer at Century Financial, said the yellow metal has immediate support at the $2,900 psychological level. Below this, strong support can be $2,891.
Samer Hasn, senior market analyst at XS.com, said uncertainty about retaliatory steps that other countries may take against the US in tariff war is among the most important positive factors for gold demand.
"This safe-haven demand gives it the ability to face the upward risks of inflation from this trade war and the tightening outlook for monetary policy that will follow," he said.
Khaleej Times
26/02/2025
President Donald Trump said Tuesday that he plans to offer a "gold card" visa with a path to citizenship for $5 million, replacing a 35-year-old visa for investors.
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Asharq Al Awsat
26/02/2025
e& shareholders will be getting 83 fils to a share as 2024 dividend, after the UAE tech-telco holding company confirmed it will be paying 41.5 fils a share for H2-2024. The Abu Dhabi headquartered co
Gulfnews
25/02/2025
Saudi Arabia recorded a trade surplus of SR44.89 billion ($11.97 billion) in the fourth quarter of 2024, driven by a 17.3 percent year-on-year surge in non-oil exports, official data showed.
Arab News
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26/02/2025
The National Debt Management Center (NDMC) has successfully completed the issuance of an international euro-denominated bond under the Kingdom's Global Medium-Term Note Issuance Programme (GMTN), wit
Saudi Gazette
26/02/2025
Saudi Arabia faces growing challenges in its residential real estate market as soaring prices and high borrowing costs cool appetite for home ownership, according to the real estate consultancy Knigh
Gulfnews
25/02/2025
Saudi Arabia recorded a trade surplus of SR44.89 billion ($11.97 billion) in the fourth quarter of 2024, driven by a 17.3 percent year-on-year surge in non-oil exports, official data showed.
Arab News
25/02/2025
Palma Development, one of the most prestigious developers in the UAE real estate industry, has announced the launch of Serenia District, an AED5-billion (($1.36 billion) upscale residential community
Trade Arabia
25/02/2025
The Saudi Central Bank (SAMA) has introduced eight new rules for how the Saudi riyal (SAR) symbol should be used, aiming to give the currency a strong identity both in the Kingdom and abroad.
Saudi Gazette
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