Thursday, gold prices increased to the United Arab Emirates, according to data compiled by FXSTREET.
The price of gold was 399.74 United Arab Emirates Dirhams (AED) per gram, compared to the AED 397,36 which it costs on Wednesday.
The price of gold increased to 4,662.52 AED per tola, against 4,634.68 AED per tola one day earlier.
| Unit measurement | Gold price in AED |
|---|---|
| 1 gram | 399.74 |
| 10 grams | 3,997.43 |
| Tola | 4,662.52 |
| Ouvy | 12,433.44 |
Daily Digest Market Movers: Gold Prix benefits from the revival of drying demand, the renewed USD sale
US President Donald Trump said on Wednesday that he was not open up to the 145% tariffs imposed on China to encourage negotiations on the trade war. This maintains a lid on optimism led by the announcement of American-Chinese sales talks later this week and provides support for the price of gold to females.
Airports were closed in Moscow in the middle of a huge Ukrainian drone attack before the three -day truce announced by Russian President Vladimir Putin. In addition, Ukraine said Russia launched guided bombs almost three hours after the cease-fire in force this Thursday.
Meanwhile, the Israeli army said that it had entirely disabled Yemen 'main airport in the capital, Sanaa, which is controlled by the Houthis. In response, a member of the best political organization of the Houthis said that the response to Israel's attacks was coming. This maintains the geopolitical risks at stake and further underpins the XAU / USD pair.
The federal reserve, as widely expected, held its key interest rate unchanged in a range between 4.25% at 4.5% at the end of a two -day monetary policy meeting on Wednesday. In the declaration that accompanies it, the American central bank noted that uncertainty about economic prospects has further increased.
At the press conference after the meeting, the president of the Fed, Jerome Powell, also noted that there was a lot of uncertainty about the prices and said that the good thing to do was to wait for greater clarity. This suggests that the American Central Bank does not lean towards the reduction of rates of soon, although it has failed to impress the American bulls.
Trump declared on Truth Social that he will announce a major commercial agreement, the first of many, with representatives of a large country well respected on Thursday. This remains favorable to a generally positive risk tone around the stock markets and could act as a front wind for precious metal.
The objective of the market will remain glued to Trump's press conference at 14 GMT at the Oval Office. Apart from this, the release of Thursday of the US Initial weekly US claims on unemployment will influence USD prices dynamics and provide a new momentum at XAU / USD pair later during the North American session.
FXSTREET calculates gold prices to the United Arab Emirates by adapting international prices (USD / AED) to local currency and measurement units. Prices are updated daily depending on the market rates taken at the time of publication. The prices are just for the reference and the local prices could slightly diverge.
FAQ GOLD
Gold played a key role in the history of man because it was widely used as a reserve of value and means of exchange. Currently, apart from its shine and its use for jewelry, precious metal is largely considered as an asset in Houmle, which means that it is considered a good investment at the turbulent time. Gold is also widely considered as coverage against inflation and the depreciation of currencies because it was not based on a specific transmitter or government.
Central banks are the biggest gold holders. In their objective of supporting their currencies at the turbulent time, central banks tend to diversify their reserves and buy gold to improve the perceived force of the economy and money. High gold reserves can be a source of confidence for the solvency of a country. The central banks added 1,136 tonnes of gold worth around $ 70 billion to their reserves in 2022, according to World Gold Council data. This is the highest annual purchase since the start of the files. The central banks of emerging savings such as China, India and Turkey quickly increase their gold reserves.
Gold has an opposite correlation with the US dollar and American treasury vouchers, which are both the main security and security assets. When the dollar depreciates, gold tends to increase, allowing investors and central banks to diversify their assets on turbulent times. Gold is also inversely correlated with risk assets. A stock exchange on the stock market tends to weaken the price of gold, while sales in the risky markets tend to promote precious metal.
The price can evolve due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly degenerate gold prices because of its security status. As an without efficiency, gold tends to increase with lower interest rates, while the cost of higher silver generally weighs the yellow metal. However, most movements depend on how the US dollar (USD) behaves as the asset is assessed in dollars (XAU / USD). A strong dollar tends to maintain the price of controlled gold, while a lower dollar is likely to raise gold prices.
(An automation tool has been used to create this post.)
