Dubai gold sees slight gains while global bullion slips 0.3pc
Precious metals mixed amid rate-cut expectations and policy signals
DUBAI – Dubai’s retail gold rates recorded a mild increase today, with all karat categories edging higher compared with Monday’s pricing.
The latest figures from the Dubai Jewellery Group show marginal gains across the board, marking a stable opening to the week’s trading.
This comes as global gold prices softened in early Tuesday trade due to stronger US Treasury yields and investor caution ahead of key American economic indicators.
Dubai gold prices
As of Tuesday, 24K gold stands at Dh508.25 per gram, up from Dh508.00 on Monday.
22K is now Dh470.75, rising from Dh470.25; 21K moves to Dh451.25 from Dh451.00; 18K increases to Dh386.75 from Dh386.50; 14K climbs to Dh301.75 compared with Dh301.50 a day earlier.
Global gold market
Spot gold slipped 0.3% to $4,218.71 per ounce by 0621 GMT, retreating after touching a six-week high in the previous session. US gold futures were down 0.6% at $4,250.70 per ounce, aligning with pressure from firmer benchmark Treasury yields, which hovered near a two-week peak and dimmed the appeal of non-yielding bullion.
Markets remained focused on upcoming US data, including the ADP employment report and the delayed September PCE Index.
Holdings of the SPDR Gold Trust rose 0.44% to 1,050.01 metric tonnes.
Other precious metals
In wider precious metals trade, silver fell 1.3% to $57.24 per ounce, platinum slipped 0.9% to $1,643.10, and palladium edged down 0.4% to $1,419.50, reflecting a mixed performance across the sector.