Brief
Dubai gold prices rise modestly as Fed rate‑cut hopes emerge
Traders in Dubai saw gold climb a few dirhams per gram after Fed chair remarks hinted at a pause in upcoming rate hikes.
By Felo News Desk · Published
Dubai gold prices inched up on Monday as traders reassessed US Federal Reserve rate‑hike expectations following remarks by Fed chair Kevin Warsh.
24‑karat gold traded at Dh504.25 per gram, 22‑karat at Dh467, and 14‑karat stayed just under Dh300 per gram. Spot gold rose 0.42% to $4,177.78 an ounce at 09:30 am local time, while silver gained 1.31% to $57.56.
Warsh’s comments were read as favouring a pause at the Fed’s next meeting, prompting traders to cut bets on a quarter‑point hike to below 20%. The metal also found support from a tech‑stock sell‑off linked to AI‑investment concerns and a bond rally that lowered yields.
Key facts
- 24‑karat gold in Dubai was Dh504.25 per gram on Monday (gulfnews.com)
- Spot gold rose to $4,177.78 an ounce, up 0.42% (gulfnews.com)
- Fed chair Kevin Warsh’s remarks suggested a possible pause in rate hikes (gulfnews.com)
Sources
- [1] gulfnews.com — originally reported as “Dubai Gold Prices Rise Amid US Fed Rate Hike Uncertainty”
