According to Fxstreet, gold prices fell in the United Arab Emirates on Wednesday.
The price of gold was 399.45 per gram of the United Arab Emirates Dirhams (AED), compared to 405.22 spent on Tuesday.
The price of gold decreased in AED 4659.12 per garden 4726.45 a day earlier.
| Unit dimension | The price of gold in the garden |
|---|---|
| 1 gram | 399.45 |
| 10 grams | 3.994,51 |
| Hell | 4659,12 |
| Troy ounce | 12 424,22 |
Daily Digest Market Movers: The price of gold is pressured by the combination of factors when traders are moving away.
US Treasury secretary Scott Besent and trade representative Jamieson Greer will meet with their Chinese colleagues in Switzerland on Saturday to discuss trade and economic issues. This marks the first direct speech after the US imposed tariffs on China and a step towards solving the trade war between the two largest economy in the world.
In the meantime, US President Donald Trump said Tuesday that he and the higher administration officials would review potential trade transactions over the next two weeks to decide which of them to accept. This, however, counts Trump's earlier claim that his administration could report advertising transactions with some countries as soon as this week.
In addition, Trump had reported to films produced outside the US 100% tariffs and also announced that he intended to announce fresh tariffs on pharmaceutical imports over the next two weeks. This keeps investors on the edge and can continue to operate in the midst of a safe gold price in the midst of geopolitical risks.
A Kremlin spokesman says that Russia will keep a unilateral ceasefire of 8 to 11 years of plans, but warned that the appropriate response will be given as soon as Ukraine will not stop the fire. In the meantime, Russia and Ukraine changed 205 prisoners of war in the mediated exchange of the United Arab Emirates.
The Israeli Security Cabinet unanimously approved a plan to expand the Gaza military attack. The plan covers the Israeli Defense Forces (IDF), which gradually penetrate Gaza's territory. Although no official details were reported, officials claimed that the operation would only begin after Trump's visit next week to the Middle East.
Investors are eagerly awaiting the Federal Reserve's decision this Wednesday later. The comments of the Monetary Policy Statement and Fed Director Jerome Powell at the post -appointment press conference will be checked for the future tariff trail. It leads to US dollar demand and affects non -available yellow metal.
Fxstreet calculates gold prices in the United Arab Emirates, adapting international prices (USD/AED) to local currency and measurement units. The grade is updated daily on the basis of the market rates taken during the publication. Prices are only for reference and local prices may vary slightly.
Golden FAQs
Gold has played a key role in the history of a person because it has been widely used as a value and medium. Nowadays, in addition to the use of shine and jewelry, precious metal is considered to be a widely used asset, which means that it is considered a good investment in turbulent times. Gold is also widely considered to be a risk against inflation and depreciated currencies as it does not depend on any particular issuer or government.
Central banks are the largest gold owners. For their own purpose, to support their currencies in a stormy time, central banks tend to diversify their stocks and buy gold to improve the perceptible strength of the economy and currency. High golden reserves may be a source of trust in the country's insolvency. According to the World Gold Council, central banks added $ 1,70 billion to $ 1,136 tonnes of gold in their stocks in 2022. This is the highest annual sequence after the record. Central banks from such an evolving economy, such as China, India and Turkey, rapidly increase their gold supplies.
Gold has an inverse correlation with the US Dollar and the US Treasury, which are the main assets of both reserve and safe assets. When the dollar is depreciated, gold tends to rise, allowing investors and central banks to diversify their property in turbulent times. Contrary to correlation with risk assets, gold is also gold. The demonstration in the stock market tends to weaken the price of gold, while precious metal is sold in more risky markets.
The price can move due to a variety of factors. Geopolitical instability or fear of a deep recession may quickly escalate the gold price due to its safe impairment. As an asset without yield, gold tends to rise at lower interest rates, while higher money costs usually weigh yellow metal. However, most moves depend on how the US dollar (USD) behaves when assets are valued (XAU/USD). A strong dollar tends to keep the gold controlled price, while a weaker dollar is likely to push gold prices.
(The automation tool was used to create this post.)
