Gold pushes back above $4 600 as investors weigh Fed rate path
Gold gained 0.6% to $4 620.67 an ounce at 1:14 p.m. in Singapore.
Dubai's gold prices rose slightly on Thursday, as investors weighed the Federal Reserve's outlook for interest rates. The precious metal stayed above $4,600 an ounce. In the UAE, 24K gold reached Dh556.50 per gram, up from Dh554.25, while 22K gold rose to Dh515.25, from Dh513.25. Internationally, gold traded at $4,607.18 an ounce, up $9.50 or 0.21 per cent.
The UAE consumer's daily price increase signals how quickly gold prices can fluctuate. Fed Chairman Kevin Warsh's speech at the Jackson Hole symposium on Friday could provide insights for investors.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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