Asian equity markets mixed on rising yields and regional economic data
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Ascot Group Limited, a global specialty (re)insurance company, made several executive leadership appointments and organizational updates.
Dubai: Gold prices managed to stabilize across the globe as lower oil prices took some of the heat out of inflation fears, while high treasury yields kept traders cautious. In the UAE, prices didn’t move much with 24-karat gold nearing the Dh500 mark priced at Dh501.25 on Wednesday.
Gold prices steadied on Wednesday but were headed for a monthly loss as expectations of higher interest rates weighed on sentiment, while investors awaited US inflation data for clues on the Federal Reserve’s next policy move. Spot gold was little changed at $4,180.30 per ounce, as of 0435 GMT, but has lost 6% so far this month.
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