[Tree] Dubai gold prices and global economic influences
Version 0.83 (2024-11-13 16:58:15.729000)
updates: Gold prices drop amid economic shifts and rising yields
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Version 0.82 (2024-10-23 06:44:15.109000)
updates: Gold prices hit record highs; predictions for future increases
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Version 0.8 (2024-07-24 06:10:26.113000)
updates: Gold prices in Dubai fell, gold prices in UAE rose
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Version 0.79 (2024-07-16 05:57:40.833000)
updates: Gold prices in Dubai fell, gold prices in UAE rose
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Version 0.78 (2024-07-15 05:54:22.889000)
updates: Gold prices in Dubai fell, UAE gold prices remained stable
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Version 0.76 (2024-07-08 06:57:40.668000)
updates: Gold prices in the UAE have declined after reaching over a one-month high in the previous session. Investors raised their bets that the Federal Reserve will cut interest rates in September, leading to a decline in gold prices.
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Version 0.75 (2024-07-04 17:01:43.970000)
updates: Egyptian gold prices stabilize amid US interest rate cut speculation
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Version 0.74 (2024-07-04 05:55:00.105000)
updates: Includes information on weak US data and rate cut speculation
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Version 0.73 (2024-07-03 05:57:06.138000)
updates: Gold prices in the UAE have increased, with 24-carat gold rising to AED282.75 per gram and 22-carat gold reaching AED261.75. This rise comes as global gold rates have also seen an increase, with spot gold rising by 0.18 percent to $2,334.65 per ounce. Traders have priced in a 67 percent chance of a Fed interest rate cut in September. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold. Weaker central bank demand and slower retail demand in China are risk factors that could impact gold prices.
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Version 0.72 (2024-07-01 06:53:58.692000)
updates: Gold prices in the UAE have declined, with 24-carat gold reaching AED281.25 per gram and 22-carat gold falling to AED260.50. The drop in gold prices can be attributed to the release of the U.S. personal consumption expenditures (PCE) index data, which revealed a 2.6 percent increase in May. Market focus has shifted to the upcoming remarks by Fed Chair Jerome Powell on Tuesday and the release of the minutes from the Fed's latest policy meeting on Wednesday.
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Version 0.71 (2024-06-28 05:55:35.626000)
updates: Gold prices in the UAE have risen, global rates set for third quarterly gain
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Version 0.7 (2024-06-25 05:53:47.307000)
updates: Gold prices in the UAE declined due to stronger dollar and U.S. business activity rising to a 26-month high
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Version 0.7 (2024-06-25 05:53:47.307000)
updates: Gold prices in the UAE declined due to stronger dollar and U.S. business activity rising to a 26-month high
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Version 0.69 (2024-06-24 07:55:05.949000)
updates: Gold prices in the UAE and Egypt experience volatility amidst global economic factors. Gold prices in the UAE rise slightly with 24-carat gold reaching AED281.5 per gram and 22-carat gold increasing to AED260.75.
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Version 0.68 (2024-06-20 05:54:08.402000)
updates: Gold prices in the UAE and Egypt have experienced volatility due to various global economic factors. In the UAE, 24-carat gold fell to AED279.25 per gram, while 22-carat gold decreased to AED258.50. Similarly, in Egypt, the gram of 21-karat gold recorded EGP 3110, and the gold ounce recorded $2306 in global markets. The gram of 24-karat gold hit EGP 3554, 18-karat recorded EGP 2666, and 14-karat estimated at EGP 2074. The gold pound reached EGP 24880. The decline in gold prices in the UAE can be attributed to the recovery of global rates. Spot gold saw a 0.09 percent increase to $2,306.22 per ounce, while U.S. gold futures rose 0.15 percent to $2,321.50. The Federal Reserve has pushed its projections for an interest rate cut to as late as December, indicating that there may only be one rate cut this year. Lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, thus raising its demand and prices. Despite the dollar index rising 0.13 percent, gold prices remained on an upward trend. Spot silver fell 0.38 percent to $28.89 per ounce, while platinum rose 0.91 percent to $955.13 and palladium gained 0.65 percent to $888.57. In Egypt, gold prices witnessed an unstable performance after the release of the Consumer Price Index (CPI) and the US Federal Reserve's decision to keep interest rates unchanged. The gram of 21-karat gold recorded EGP 3110, while the gold ounce recorded $2306 in global markets. The gram of 24-karat gold hit EGP 3554, 18-karat recorded EGP 2666, and 14-karat estimated at EGP 2074. The gold pound reached EGP 24880. The gold markets slightly witnessed unstable performance domestically ahead of the release of US economic data, including interest rates. The US Bureau of Labor Statistics reported that inflation was unchanged in May, and the annual rate of inflation fell to 3.3% from 3.4%. The US Federal Reserve kept interest rates unchanged between 5.25% to 5.50% and expected the interest rate to fall to 5.1% this year. The US Federal Reserve highlighted that the inflation rate increase slowed down but is still high. It is important to note that gold prices in both the UAE and Egypt are influenced by global economic factors. Traders are closely monitoring the release of US economic data, including the Consumer Price Index and interest rates, as they impact the direction of gold prices. The Federal Reserve's policy meeting is expected to provide further insights into the direction of interest rates. Investor attention now turns to comments from Fed Chair Jerome Powell, changes to economic projections from policymakers, and US inflation data. Additionally, the resumption of gold purchases by China, which had been buying gold for 18 straight months, could further impact gold prices. Gold prices in the UAE saw a marginal increase, with 24-carat gold rising to AED282 per gram, while 22-carat gold remained stable at AED261.00. Globally, spot gold saw a 0.01 percent decrease to $2,328.09 per ounce. Traders are currently pricing in about a 67 percent chance of an interest rate cut in September, according to the CME FedWatch Tool. Gold prices have lost around 6 percent from their record high on a stronger dollar and higher interest rates. The recent World Gold Council report reveals that central banks expect to raise their gold reserves in the next 12 months. Gold prices in the UAE rose, with 24-carat gold reaching AED283.50 per gram and 22-carat gold increasing to AED262.50. Globally, spot gold increased by 0.49 percent to $2,340.87 per ounce. The rise in gold prices is attributed to softer U.S. economic data, raising hopes for an interest rate cut by the Federal Reserve. The market's focus now shifts to the U.S. weekly jobless claims data and flash purchasing managers' indexes for more insights into the timing of the rate cut. Gold prices have recovered from a 6 percent decline last month and have recorded a 2.21 percent decline in the past 30 days. Spot silver rose by 1.81 percent to $30.30, platinum gained 0.06 percent to $980.85, and palladium rose 0.72 percent to $911.27.
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Version 0.66 (2024-06-14 21:56:05.020000)
updates: Integration of gold price volatility in Egypt and its relation to global economic factors
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Version 0.65 (2024-06-14 05:53:32.684000)
updates: UAE gold prices decline as global rates show signs of recovery
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Version 0.64 (2024-06-12 06:52:54.556000)
updates: Gold prices in UAE remain stable as global rates dip on stronger U.S. dollar
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Version 0.63 (2024-06-11 06:53:16.187000)
updates: Gold prices in UAE declined, global rates dipped ahead of U.S. inflation data
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Version 0.62 (2024-06-10 06:54:09.962000)
updates: Gold prices hold steady in UAE, global rates decline marginally
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Version 0.6 (2024-06-06 06:53:12.045000)
updates: Gold prices in the UAE and globally rise to two-week high on prospects of an interest rate cut by the Federal Reserve
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Version 0.59 (2024-06-05 20:54:25.961000)
updates: Gold prices rise in UAE and Egypt, markets await US jobs data
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Version 0.58 (2024-06-05 06:52:57.765000)
updates: Gold prices in UAE rise after hitting three-week low
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Version 0.57 (2024-05-31 06:52:52.956000)
updates: Gold prices in the UAE rose as the U.S. economy experienced slower growth in Q1
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Version 0.55 (2024-05-29 06:53:20.287000)
updates: Gold prices in the UAE saw an increase as traders reduced their rate cut expectations
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Version 0.54 (2024-05-28 06:59:58.614000)
updates: Gold prices in the UAE declined as focus shifts to US inflation data
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Version 0.53 (2024-05-27 06:52:49.519000)
updates: Gold prices in the UAE saw an increase, with the 24K variant rising to AED283.50 per gram and the 22K variant increasing to AED262.50. Globally, spot gold also saw a 0.37 percent increase to $2,342.58 per ounce. Last week, gold prices reached a record high of $2,449.89 but have since dropped by over $100. The upcoming release of the core personal consumption expenditures (PCE) price index, due on Friday, will have an impact on the monetary policy decisions of the US Federal Reserve. There is currently a 63 percent chance of a rate cut by November. Other precious metals also experienced increases, with spot silver rising by 1.59 percent, spot platinum rising by 1.50 percent, and spot palladium increasing by 1.46 percent.
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Version 0.52 (2024-05-20 05:56:01.338000)
updates: Gold prices in the UAE reach all-time high
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Version 0.5 (2024-05-16 06:53:31.348000)
updates: Updated gold prices in UAE and globally, added information on U.S. inflation and interest rate cuts
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Version 0.49 (2024-05-15 06:53:55.948000)
updates: Gold prices in the UAE increased, spot gold declined globally
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Version 0.48 (2024-05-13 08:57:10.055000)
updates: Updated information on gold prices in the UAE
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Version 0.47 (2024-05-13 06:51:55.650000)
updates: Gold prices decline ahead of U.S. inflation data
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Version 0.46 (2024-05-10 06:53:07.221000)
updates: Gold prices surge in UAE, rate-cut hopes rise
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Version 0.45 (2024-05-09 06:52:06.676000)
updates: Updated gold prices in UAE, added information on U.S. economic data and interest rates
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Version 0.44 (2024-05-08 06:54:52.760000)
updates: Updated gold prices and information on China's gold purchases
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Version 0.43 (2024-04-23 08:22:40.295000)
updates: The impact of gold prices on Arab economies
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Version 0.42 (2024-04-22 08:22:37.143000)
updates: Gold prices in Dubai decline as Middle East tensions ease and global rates drop
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Version 0.41 (2024-04-16 07:20:07.604000)
updates: Updated information on gold prices in Dubai and factors driving the rally
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Version 0.4 (2024-04-09 06:23:05.297000)
updates: Gold prices rally in Dubai after global rates hit record highs
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Version 0.37 (2024-03-28 08:17:46.759000)
updates: Gold prices in the UAE stabilize near record highs
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Version 0.36 (2024-03-27 08:18:31.373000)
updates: Updates on gold prices in UAE and dollar strength
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Version 0.35 (2024-03-25 08:22:35.596000)
updates: Updates on UAE gold prices and copper prices
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Version 0.34 (2024-03-25 06:20:48.421000)
updates: Gold prices rose in Asian trade, but remained below recent record highs due to the strength of the dollar. Other precious metals were mixed, with silver rising and platinum falling. Copper prices rebounded after steep losses, but remained below recent highs due to data suggesting global copper supplies may not be as tight as expected.
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Version 0.32 (2024-03-23 08:18:34.851000)
updates: Added information on gold closing lower, US dollar rally, central bank decisions
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Version 0.31 (2024-03-23 05:20:09.406000)
updates: Gold prices slip, but still set for weekly gain
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Version 0.29 (2024-03-22 02:17:33.047000)
updates: Gold prices set for fourth weekly gain on Fed rate-cut optimism
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Version 0.28 (2024-03-21 18:20:11.613000)
updates: Gold prices in India reach all-time high, dollar declines
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Version 0.27 (2024-03-21 09:27:03.094000)
updates: Updates on US Federal Reserve meeting outcome and its impact on Dow Jones, Nifty 50, gold, and the dollar
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Version 0.26 (2024-03-21 06:20:36.090000)
updates: Gold price hits all-time high in India after US Fed meeting outcome
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Version 0.25 (2024-03-20 18:29:47.267000)
updates: Gold prices rally as Federal Reserve holds rates but revises projections
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Version 0.23 (2024-03-15 21:19:58.458000)
updates: Updated information on gold prices and Fed rate cut speculation
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Version 0.22 (2024-03-14 21:22:31.022000)
updates: Gold prices dipped after high US inflation data
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Version 0.21 (2024-03-13 21:17:34.148000)
updates: Includes information on gold price rebound, US economic data, and Federal Reserve Chair Jerome Powell's comments
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Version 0.2 (2024-03-13 11:25:38.432000)
updates: Incorporated information on gold prices reacting to US inflation data and anticipation of June rate cut
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Version 0.19 (2024-03-11 04:20:28.098000)
updates: Gold prices spike to a lifetime high amidst hopes of rate cuts
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Version 0.18 (2024-03-10 02:19:59.033000)
updates: Gold prices spike to a lifetime high amidst hopes of rate cuts
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Version 0.17 (2024-03-07 21:22:51.074000)
updates: Updates on the dollar's decline, weak productivity and trade deficit reports, and the anticipation of rate cuts
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Version 0.16 (2024-03-07 21:19:29.359000)
updates: Updated information on Federal Reserve Chair Powell's confirmation of rate cut delay and its impact on currency markets
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Version 0.15 (2024-03-07 13:20:27.423000)
updates: Federal Reserve Chair Powell's comments spark stock market rebound and gold rally
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Version 0.14 (2024-03-07 11:20:51.656000)
updates: Incorporated information about Federal Reserve Chair Powell's comments on rate cuts, Bank of Canada's decision to keep rates unchanged, and the focus on the European Central Bank. Added insights from BlackRock senior portfolio manager on the U.S. January jobs report. Mentioned the decline of the US dollar against major currencies and the rebound of the yen. Included the market's anticipation of Friday's jobs data and the potential impact of rate cuts and central bank decisions. [decab193]
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Version 0.13 (2024-03-07 10:19:09.327000)
updates: Incorporated insights from Federal Reserve Chair Powell's comments on rate cuts, Bank of Canada's decision to keep rates unchanged, and European Central Bank's focus
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Version 0.12 (2024-03-06 22:19:11.036000)
updates: New information on USD weakness and Bank of Canada rate decision
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Version 0.11 (2024-02-05 19:17:55.087000)
updates: Incorporated recent hawkish comments from Federal Reserve officials and their impact on the USD
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Version 0.1 (2024-02-05 08:21:20.425000)
updates: Fed Chair Powell's caution on rate cuts amidst positive inflation signals
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Version 0.09 (2024-02-02 17:29:19.442000)
updates: Integration of insights from BlackRock senior portfolio manager on U.S. January jobs report
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Version 0.08 (2024-01-31 02:25:43.842000)
updates: Incorporated the potential impact of the FOMC monetary policy announcement on stock markets
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Version 0.07 (2024-01-04 12:17:08.946000)
updates: Fed minutes calm markets, concerns about restrictive policy emerge
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Version 0.05 (2023-12-26 10:00:09.795000)
updates: Opinion piece on the Federal Reserve's monetary policy
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Version 0.04 (2023-12-19 07:58:58.770000)
updates: The article from the European Central Bank examines the role of US monetary policy in the impact of fiscal spending on the economy. It highlights the importance of considering the response of monetary policy when assessing the effectiveness of fiscal spending.
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Version 0.03 (2023-12-13 17:01:50.480000)
updates: Former FOMC economist argues against policy easing
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Version 0.02 (2023-12-01 20:41:04.712000)
updates: Inflation surge led to a shift from dovish to hawkish stance
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Version 0.01 (2023-12-01 19:36:29.369000)
updates: Highlights the evolving views of US central bankers on monetary policy
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