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Wednesday, September 03, 2025

Dubai: Gold prices jump by Dh4.5 to new all-time high

تم إعداد هذا المنشور من قبل فيجاي فاليتشا

Dubai: Gold prices jump by Dh4.5 to new...
 
   

Vijay Valecha, September 3, 2025, Khaleej Times

Gold prices jumped Dh4.5 per gram to a new record high in Dubai on Wednesday, as spot gold exceeded $3,560 per gram. On Wednesday evening, 24K was selling at Dh428.75 per gram, up from Dh424.25 per gram at the close of the markets on Tuesday.

22K inched closer to Dh400 per gram as the price rose to Dh396.75 per gram. Meanwhile, 21K and 18K opened higher at Dh380.25 and Dh326 per gram, respectively. Spot gold was trading at $3,562.59 per ounce on Wednesday evening.

Analysts expect the yellow metal price to likely maintain its upward trend as a weaker US job market will push the Federal Reserve to cut interest rate to support the employment market. Hence, this and other factors, such as central bank buying and geopolitical tensions around the world, will support the yellow metal.

Vijay Valecha, chief investment officer of Century Financial, said the rally was driven by higher expectations of US interest-rate cuts and traders seeking safety after a selloff in equity and bond markets.
“Uncertainty about the ruling on whether US President Donald Trump has legitimate grounds to remove the Fed governor has further supported the rally in gold… A key US jobs report due this Friday is expected to show signs of a weakening labour market, reinforcing the case for rate cuts. These factors are likely to sustain the bullish momentum. Moreover, declining property prices in China have limited domestic investors' options for preserving wealth, thereby increasing the appeal of gold,” he said.

Source:

Khaleej Times


    
    
    
   
 
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