Industry News
Dubai Gold Prices Set to End Week Lower on Rate Hike Concerns
Dubai gold prices were on track to finish the week lower as elevated energy prices and inflation concerns fuelled expectations of another US Federal Reserve rate hike. In the UAE, 24-karat gold held at Dh514.25 per gram on Friday, representing a Dh40 drop over the past 28 days. Analysts noted that resilient Chinese demand and safe-haven buying continue to provide underlying support for the metal.
