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Monday, February 24, 2025
UAE: Gold prices rise in early trade on geopolitical tensions, trade wars
By Vijay Valecha in 'Century in News'
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Vijay Valecha, Khaleej Times, February 24, 2025
Gold prices rose half a dirham per gram at the opening of markets in Dubai on Monday. At 9am UAE time, 24K opened higher at Dh354.25 while 22K was trading at Dh329.75 per gram. Among other variants, 21K and 18K rose to Dh316 and Dh271 per gram, respectively.
Saxo Bank said gold hovered near record highs at $2,935 an ounce due to geopolitical tensions, despite the US Federal Reserve’s rate stance. “Concerns grew as US President Donald Trump suggested pulling US support for Ukraine after Russia's 2022 invasion, urging Zelenskiy to negotiate with Russia swiftly,” it said.
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