In the UAE, 24K rose Dh0.75 per gram to Dh213.5 . Among the other variants of the precious metal, 22K rose Dh0.50 to Dh200.5, 21K to Dh191.25 and 18K to Dh164.0, according to Dubai Gold and Jewellery Group data.
Naeem Aslam, chief market analyst at AVA Trade, said fears of rising US inflation have pushed the price of the precious metal up ahead of inflation report.
“The appetite for risky assets has waned, and because gold is regarded as a safe haven asset, investors are increasing their holdings of the yellow metal. However, with tapering on the horizon and the dollar strengthening, gold has failed to achieve significant gains,” he said. The dollar index, which measures the greenback against six rivals, was down 0.2 per cent, easing off from an over one-year
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