Gold prices in the United Arab Emirates rose on Tuesday, according to the data collected by FXSTREET.
The price of gold was 356.12 United Arab Emirates Dirhams (AED) per gram, an increase compared to 355.63 dirhams on Monday.
The price of gold has risen to 4153.67 dirhams per tulle from 4,148.03 dirhams per tulle the day before.
| Unit | The price of gold in a dirham |
|---|---|
| 1 gram | 356.12 |
| 10 grams | 3561.16 |
| Tire | 4,153.67 |
| Specify an ounce | 11,076.45 |
Daily Digest Market engines: Not clear on influence
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On Monday, Gold Fields, which has made an inaccurate proposal to buy Gold Road Resources, which is based in Perth for $ 3.05 Australian (AUD), cash on March 7, measures his shares of shares at 3.3 billion degrees, which means the total value of institutions $ 2.4 billion. Gold Road rejected the offer, according to Bloomberg reports.
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The shares of the Chinese metal group Zijin Mining Group Co. More than 5 % after the company recorded a standard profit on the high price of gold and copper. The company said in a statement after the net income increased by 52 % last year, that the growing global economic and biological risks, along with the definitions, increased the uncertainty. The high demand for funds circulating in the gold exchange (ETFS), as well as the purchases of the central bank, will push alloys up to this year, according to Reuters reports.
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The American definitions due on April 2 are preparing to be more targeted than those of the sprawling parties, according to US officials familiar with the matter. However, merchants are still cautious with China and Australia officials warning against the global economy of the American commercial policy, according to Bloomberg’s reports.
FXSTREET calculates gold prices in the United Arab Emirates by adapting international prices (USD/AED) with local currency units and measurement. Prices are updated daily based on the market prices that were taken at the time of publication. Prices are only to return to them and local prices can diverge a little.
Common Gold questions
Gold played a major role in human history, as it was widely used as a store for value and exchange. Currently, regardless of its brilliance and use of jewelry, the precious metal is widely seen as a safe asset, which means it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against currency decline because it does not depend on any specific source or government.
Central banks are the largest gold holders. In their goal to support their currencies at troubled times, central banks tend to diversify their reserves and buy gold to improve the powerful power and currency. High gold reserves can be a source of confidence to the dissolved country. Central banks added 1136 tons of gold worth $ 70 billion to their reserves in 2022, according to the data of the Golden Golden Council. This is the highest annual purchase since the start of the records. Central banks of emerging economies such as China, India and Turkey increase their gold reserves.
Gold has a counter -relationship with the US dollar and the United States Treasury, which is one of the main reserves and safe assets. When the dollar decreases, gold tends to rise, allowing investors and central banks to diversify their assets at turbulent times. Gold is inversely associated with the origins of risk. The assembly in the stock market weakens the price of gold, while sales in the most dangerous markets tend to prefer precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can escalate the price of gold due to its safe situation. As a lower asset than the return, gold tends to rise with low interest rates, while the high cost of money usually reaches the yellow metal. However, most moves depend on how the US dollar (USD) is behaved as the original is priced in dollars (Xau/USD). The strong dollar tends to maintain the price of gold -controlled gold, while the weakest dollar is likely to increase the price of gold.
(The automation tool was used to create this post.)
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