Gold prices rose today to record highs in a week on the back of the decline of the US dollar against major currencies since the end of last week after a meeting of central banks in Jackson Hole.
Dubai Gold Rate 24-carat gold in Dubai rose to Dh160.35 per gram, up by Dh6 . At the same time 22K gold trading at Dh146.25 per gram
Federal Reserve Chairman Yelin avoided talking about monetary policy, in addition to ignoring the European Central Bank President Mario Draghi. The current euro levels pushed the dollar to retreat significantly helped the gold rally to complete today’s positive movement and record the highest in a week.
Gold prices are currently trading at $ 1324 an ounce after hitting a low of $ 1291.6 an ounce
Asian equities fluctuated today, boosting demand for gold as a safe haven and alternative investment in the markets, as investors adjusted their positions ahead of the US jobs report this weekend.