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- Major Gulf markets jump after Israel-Iran ceasefire
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- Dollar rises as investors turn to safe-haven assets
- China Says Aims to Boost Gold Resources by 5-10% by 2027
29/05/2025 02:55 AST
Gold prices rose in Wednesday's trading as investors moved to buy following a dip in the previous session, amid market anticipation surrounding the upcoming US Federal Reserve's meeting on monetary policy and key economic data releases in search of signals regarding future interest rate decisions.
Spot gold increased by 0.6 percent to USD 3,320.58 per ounce, up from USD 3,285.19 in the previous session, while US gold futures also rose by 0.6 percent to reach USD 3,319.50.
Regarding other precious metals, spot silver edged up by 0.1 percent to USD 33.34 per ounce, platinum increased by 0.8 percent to USD 1,087.97 per ounce, and palladium rose by 0.1 percent to USD 979.57 per ounce.
The US Federal Reserve has held the benchmark interest rate steady within the range of 4.25 percent to 4.50 percent since last December, as officials await greater clarity on the economic outlook.
Policymakers, on the other hand, have also been grappling with market volatility triggered by US President Donald Trump's shifting rhetoric on trade negotiations.
QNA
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Gold | 3,331 | -19.7 | -0.59 |
| Silver | 36.13 | 0.44 | 1.23 |
| Platinum | 1,170.5 | 39 | 3.45 |
| Palladium | 1,051.5 | 49 | 4.89 |
24/06/2025
China aims to increase its gold resources by 5 to 10% and its gold and silver output by more than 5% by 2027, the industry ministry said on Monday in an implementation plan for 2025 to 2027.
Asharq Al Awsat
13/06/2025
The price of gold in the Qatari market rose by 0.93 percent during the current week, reaching USD 3,339.67 per ounce, according to data issued by Qatar National Bank (QNB).
The data showed t
QNA
13/06/2025
The Dubai gold rate has shot back to its highest level of Dh381.75 for a gram of 22K as Israel's strikes on Iran's nuclear facilities roiled global commodity markets. The local price is up yesterday'
Gulfnews
02/06/2025
As the Eid Al Adha focused gold and jewellery promotions start in the UAE, shoppers can take heart in one detail - the Dubai gold price remains in the Dh365-Dh369 a gram range for 22K. Currently, the
Gulfnews
30/05/2025
Gold prices rose in volatile trading on Thursday, aided by softer jobs data, while market participants also digested a court ruling that blocked most of U.S. President Donald Trump's tariffs.
Reuters
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