The Emirates Times

Linkedin Twitter Facebook Tumblr

The Emirates Times

– Make It Happen
Enquire Now
Menu
  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
    • Dubai
    • Jordan
    • Bahrain
    • Abu Dhabi
    • Saudi Arabia
    • Oman
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • EVENT
  • SUCCESS STORIES
  • METAVERSE

The Emirates Times

– Make It Happen
Menu
  • Home
  • Interview
  • UAE
  • Gulf News
    • BUSINESS
    • Dubai
    • Jordan
    • Saudi Arabia
    • Abu Dhabi
    • Bahrain
    • Oman
  • Technology
  • Lifestyle
    • Biography
    • EVENT
  • Metaverse
Home Gulf News Dubai

Dubai Witnesses Decrease in Gold Prices on First Trading Day of the Week

June 7, 2023
in Dubai, Gulf News
0 0
0
Gold Prices

Gold Prices

After a strong US payrolls report moved the US dollar higher and took the luster away from the precious metal, the Gold prices opened lower in the UAE on the first trading day of the week.

At Monday’s beginning of the markets, the 24K prices in Dubai decreased by half a Dirham per gram for trading at Dh235.5 per gram. While 22K, 21 K, and 18K were dealing at Dh 218.25, Dh 211.25, and Dh 181.0 per gram, respectively. 

Gold Prices

Moreover, at 9.15 UAE time, Spot Gold decreased to 0.27 percent at $ 1,944.14 per ounce.

Besides, On Friday, after US nonfarm payroll increased by 339,000 jobs last month, the prices of the precious metal decreased by one percent, surpassing the forecasts done by the economists. However, the unemployment rate in the US increased to 3.7 percent, from 53 years up to 3.4 percent till April. 

According to the daily FX, the yellow metal has undergone a significant downward correction from its May increases of around $2070, down about 6 percent from those pinnacle levels in a short period. 

Apparently, in the last week, billion tried to recover, briefly arriving at $1,983, but quickly reversed the course and excited heading into the weekend and settling slightly below the verge of $1,950.

Diego Colman, a strategist at Daily FX, said, ” The metal’s lack of ability for maintaining the bullish momentum can be given credit for their US interest rate dynamics, especially for their recent upswing.

Next Article

Tags: Gold PricesTrading
ShareTweetSend
Next Post
Egg Freezing

Growing Trend of Egg Freezing Among Women in the UAE: Impact of Legal Reforms and Shifting Mindsets

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result

Latest Posts

Mridula Singh
INTERVIEW

Pioneering Real Estate & Technology with Purpose: An Exclusive Interview with Mridula Singh

by Editor
July 8, 2025
0

Interview with Mridula Singh By The Emirates Times Editorial Desk In a region driven by innovation, few leaders exemplify the...

Read more
accounting service in UAE

Accounting Service in UAE: A Strategic Asset for Business Owners

July 5, 2025
executive coaching

Why Executive Coaching Is Essential for Modern-day CEOs

July 1, 2025
AMPSZ Consulting

Serial Entrepreneur Samuel Zekri Announces Full Exit from AMPSZ Consulting FZCO in Dubai to Focus on Larger, Consolidated Ventures

June 27, 2025
Dubai crypto exchange

Best Crypto Exchanges in Dubai and the UAE for 2025: A Comprehensive Guide

June 27, 2025

Follow Us

The Emirates Times

– Make It Happen
The Emirates Times is an English Language Internet media with a significant focus on business, technology, news, entrepreneurship, leadership, innovation, prominent business personalities, and many more, majorly in the GCC region. Further, the company publishes interviews, news, business content, press releases, etc. This platform also publishes about real estate, sports, metaverse, business ideas, and more.
Linkedin Twitter Facebook Tumblr

Important links

  • HOME
  • INTERVIEW
  • UAE
  • GULF NEWS
  • TECHNOLOGY
  • LIFESTYLE
  • METAVERSE

Contact Us

  • sales@theemiratestimes.com
  • +91-70-6556-6556

© 2024 theemiratestimes