Brief
Dubai gold prices inch up as oil falls and Fed pause hopes rise
Falling Brent crude and expectations of a Fed pause helped lift Dubai gold prices on Monday.
By Felo News Desk · Published
Gold in Dubai edged higher on Monday, Oct. 12, as Brent crude eased to about $103 a barrel and traders saw a better chance the U.S. Federal Reserve will pause interest‑rate hikes.
24‑karat gold stayed above Dh500 at Dh505.50 per gram, while 22‑karat was priced at Dh468, 18‑karat at Dh384.75 and 14‑karat moved toward Dh300.
Globally, spot gold was slightly lower at $4,190.15 per ounce after briefly breaching $4,200 earlier in the day.
Bond yields fell, with 30‑year U.S. Treasury yields dropping on Friday, giving some relief to commodities. Gold‑backed ETFs added holdings last week and China’s central bank has accelerated its gold purchases.
U.S. inflation data is due on Oct. 14, and Fed officials, including Chair Kevin Warsh, will speak at the IMF meeting in Bangkok on Oct. 15.
Key facts
- 24‑karat gold in Dubai was Dh505.50 per gram on Oct. 12 (gulfnews.com)
- Brent crude fell to about $103 a barrel (gulfnews.com)
- Spot gold traded at $4,190.15 per ounce globally (gulfnews.com)
- U.S. inflation data is scheduled for Oct. 14 (gulfnews.com)
- Fed Chair Kevin Warsh will speak at the IMF meeting in Bangkok on Oct. 15 (gulfnews.com)
Sources
- [1] gulfnews.com — originally reported as “Gold Prices Edge Higher in Dubai as Falling Oil Fuels Fed Pause Hopes”
