Latest gold, forex rates in UAE: Gold gains $50 in 10 days – Emirates 24/7

Gold has gained $50 an ounce, or nearly 5 per cent, since a surprisingly weak US nonfarm payrolls report on October 2. The data prompted the market to shift expectations of a Fed rate hike to 2016 and sell the dollar.   


Gold, as a non-interest-paying asset, benefits from ultra-low interest rates.    


However, bullion fell nearly 1 per cent on Tuesday, retreating from a three-month high on profit-taking after a two-day rally triggered by expectations the Federal Reserve will not hike US interest rates this year.     

Gold rates for October 13, 2015  

 







Daily

Morning

9:30am

 Afternoon

2pm

 Evening

5pm

 Late Evening

8pm

TT Bar

15910  15910  15980  16060

24k

139.00  139.00  139.50  140.25

22k

132.00  132.00  132.50  133.25

21k

126.50  126.50  127.00  127.75

18k

109.50  126.50  110.00  110.50

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Spot gold fell 0.8 per cent to $1,154.15 an ounce by 0323 GMT (7.23am UAE time), after earlier dropping as much as 0.9 per cent. The metal hit a three-month high of $1,169 in the previous session.    


US gold futures fell 1 per cent to $1,152.    

Among other precious metals, silver fell as much as 1.2 per cent, after hitting a 3-1/2-month high of $16.10 last week.     

Platinum fell 1.6 per cent, dropping from a one-month high of $998.50 an ounce in the previous session. Palladium also eased.

DD/TT RATES AT – 07.40 AM – 13 Oct 2015

Trading activity during Asian hours was thinner than usual with Japanese markets closed for a public holiday. US markets will also be shut on Monday for a holiday.     

Markets now expect the first US rate hike in nearly a decade in early 2016.    

A delayed rate rise could support non-interest-paying gold, although uncertainty over the timing could weigh on prices in the near-term.    

Hedge funds and money managers raised their bullish bets in Comex gold and silver to four-month highs in the week ended October 6, data on Friday showed, amid expectations the Fed will delay a much-anticipated rate hike.     

Also supporting prices was news from South Africa that the Association of Mineworkers and Construction Union voted on Sunday to strike at the operations of AngloGold Ashanti, Harmony Gold and Sibanye Gold.

 

 

 

 DD/TT RATES AT – 03.40 PM – 13 Oct 2015


 
Weekly Gold Rates 







 

 

 

Weekly

rates

 

 

 

Saturday

 

 

 

Sunday

 

 

 

Monday

 

 

 

Tuesday

 

 

 

 

Wednesday

 

 

 

 

Thursday

 

 

 

 

Friday

 

TT Bar

16430  No 16460 16530 16610 16130 16620

24k

143.50  Trading 143.75 144.25 145.00 141.00 145.00

22 k

136.25   136.50 137.00 137.50 133.75 137.50

21 k

130.50   130.75 131.25 132.00 128.25 132.00

18 K

113.00   113.25 113.50 114.00 111.00 114.00

   
Get retail Gold and Forex rates with Emirates 24|7 

 

Rates will be updated twice daily

Emirates 24|7 brings you the daily Dubai gold rate (22k, 24k, 21k and 18k), as well as currency exchange rates, including the Indian rupee, Pakistani rupee, Philippine peso, Sri Lankan rupee, sterling pound, euro and may more against the UAE dirham (US dollar).

The rates for 24 carat, 22 carat, 21 carat, 18 carat and Ten Tola (TT) Bar (11.6638038 gram) will be updated four times a day to keep them fresh and relevant for buyers of gold bars and gold jewellery in the UAE.

The update times for Retail Gold Rate in Dubai will be at 9.30am, 2.30pm, 5pm and 8pm (unless there is drastic fall or rise in the international rate).

On Saturdays, the gold rates will be updated at 9.30am and this rate will stay static through Saturday and Sunday until the international market reopens on Monday.

Please note that the retailers add making charges separately to the quoted rate of gold.

The Retail Gold Rate in Dubai is being supplied by the Dubai Gold and Jewellery Group.

Foreign Exchange Rates

The Foreign Exchange Rates of major currencies will be updated twice each working day at around 8:30am and 3:30pm.

These will cover both the Remittance Rates [for sending money] and the Currency Notes Rates [for buying and selling of currency notes].

The Foreign Exchange Rates are being supplied by UAE Exchange.