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Dubai Gold Price down again due to US Jobs Data.

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gold price dubai uae

Today Gold Spot fell 0.23 per cent to $1,760.12 per ounce in the morning time of 9.15 am UAE. Dubai Gold Price down due to the US new data.

gold prices in uae dubai drops

gold prices in uae dubai drops

Reason for Fall in Gold Price:

Dubai Gold price fell on Thursday 7th October 2021. The dollar remained strong. Investors were careful ahead of a US payrolls report. Many are expecting to provide evidence on the Federal Reserve’s tapering timeline.

Spot Gold Dubai:

Morning price Spot gold Dubai fell 0.23 per cent to $1,760.12 per ounce by 9.14 am UAE time. In the UAE, 24K trading at Dh213.25 per gram. 22K at Dh200.25, 21K at Dh191.0 & 18K at Dh163.75 at the market’s opening on Thursday.

Inflation:

“Central banks are in a very dangerous situation as they watch boom continues to pick up. Historically, it is big news for Gold. But it doesn’t work that way in a situation where central banks are beginning to shift into rate hike mode. This is said by,” Stephen Innes, managing partner at SPI Asset Management, told Reuters. Also read about earthquake in Pakistan.

US news affecting prices in Gold:

“If we get a heavy work number and US yields go towards 1.6 per cent. I think Gold could trade down to $1,725.” We might see more low in Gold prices. Surely coming few months, Gold prices are going to remain volatile in Dubai and worldwide. Many things are going to affect Gold rates. We all expect things to come to normal in all the leading countries and some Asian countries like India. We all know India is the biggest trader of Gold. Diwali is coming near in India we can expect some support to in this price. Overnight, the yield on 10-year US Treasuries lifted off a more than three-month high but continued above 1.5 per cent.

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Business

Chinese making new Dubai in Srilanka Colombo Port City; see pictures.

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new dubai and honkong city in srilanka

Srilanka is getting new makeup from China, a new Port city of Srilanka turning into new Dubai. Chinese making new Dubai in Srilanka Colombo Port city, pictures are stunning. 

new dubai in srilanka made by chinese

It can be a game-changer for Lanka, but the question remains how will china work after a time. We all know how dominant is China. Srilanka has taken risks that can better or take them to hell. Whatever it is will know in future. But currently, pictures coming from Colombo fort city are no lesser than Dubai. Chinese are making something unique and eye-catching buildings and roads in Srilanka. 

High tech city of Srilanka:

It is becoming a high-tech city from a low side port place of Srilanka. Chinese making new Dubai in Srilanka Colombo Port City and it will become the next hong kong and Dubai of the world, says developers of China. We all know land is given for a 99year lease to China. The place is now getting high-class infrastructure which Srilanka never expected. It is an all-new Dubai in Srilanka. 

After several years of dredging, building activity is gaining momentum, and the new city is taking shape.

Giant cranes led by Chinese engineers move concrete slabs while earthmovers fill trucks with tons of sand. A river parting through the recycled land has already been dredged, allowing small ships and yachts access.

Officials estimate it will take about 25 years to complete the first of its kind in South Asia.

No tax for people living there:

Sri Lanka will give the land under its management, and the area assigned to the Chinese will be contracted to global firms, banks, and other companies. The govt may also assess a levy on their revenue.

More than 80,000 people will live in the new city, which will offer tax holidays for those who fund and do trade there. All businesses in the special economic zone, including earnings, will be in US dollars.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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Digital currencies Bitcoin, Ethereum, Dogecoin’s ongoing downfall continues.

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Digital currencies 2022

After touching a sky-high of $68990.90 in 2021 Crypto and other Digital currencies Bitcoin, Ethereum continues to go in another direction. 

cryptocurrency

cryptocurrency

Digital currencies Bitcoin and all are having a tough time moving positive side from past few weeks. After touching record, high Bitcoin is constantly falling in downside. 

The biggest Crypto has fallen by 1%, which is not a small margin for any investor. Currently, it is moving around $42000 level. Bitcoin’s other digital assets like Ethereum and Dogecoin are also falling down from their high. 

Digital currencies 2022

Digital currencies 2022

Also read about Chamath Palihapitiya Billionaire view on China’s abuses on Uyghurs.

Upperside expected:

All the investors who are into this business are still optimistic. Despite ongoing volatility, they feel digital currencies will see a new high in 2022. But in reality, if you see Crypto has fallen by 30% from the top. 

Use of digital currencies worldwide:

On the other side use of digital currencies is growing in many countries. It is a good sign now people believe in these currencies. From Germany to the U.K. and the U.S., every nation’s residents use this currency and are bullish about the positive future. 

More than 75% are keen to buy crypto products worldwide. So in the next 12 months, we can expect much more highs in this field. Investors who have already invested can remain in the market for a longer time. More joys to come in 2022, say experts. 

Investing approach has changed with Crypto coming into existence. People want something new in the market. So we can expect digital currencies to grow more in 2022. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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Chamath Palihapitiya Billionaire feels it’s disappointing ‘no one cares about Uyghurs in China.’

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Chamath Palihapitiya Billionaire

In his recent Podcast, Chamath Palihapitiya Billionaire investor, talked about abuses happening with Uyghurs in China. It’s sad no one in the world is damn caring about what’s happening with the Uyghurs community in China. 

Torcher happening with Uyghurs and other Muslim minorities is sad. It is forced labor work and mass torching of communities that are not Chinese. Said Chamath Palihapitiya Billionaire investor.

Chamath said he is concerned about the supply chain, climate change, and Health system of America. China taking over Taiwan and Uyghurs facing problems is also a big concern. 

Billionaire investor Chamath Palihapitiya began a backlash on social media after speaking during a recent outbreak of his podcast that “nobody cares” about the ongoing human rights vitriols against the Uyghurs in China.

90 minute podcast of Chamath Palihapitiya investor:

In his 90-minute episode, Palihapitiya told co-host, Jason Calacanis, on their “All-In” podcast that he would be fibbing if he said he oversaw the Uyghurs, an ethnic Muslim minority in China’s northwest province of Xinjiang.

Every time I say that I care about the Uyghurs, I’m just lying if I don’t care. And so, I’d rather not lie to you and tell you the truth; it’s not a focus for me,” said Palihapitiya, a happening capitalist who owns 10% of the NBA team, the Golden State Warriors. From BBC.

Chamath Palihapitiya A Refugee:

Chamath also said as a refugee, my family flew a nation with its own set of human rights problems. So this is something that is very much a piece of my lived background,” said Palihapitiya, who was born in Sri Lanka. To be precise, my view is that human rights matter, whether in China, the US, or elsewhere. 

White house on human crimes in China:

The White House told a diplomatic boycott of the 2022 Winter Olympics in Beijing, citing “ongoing genocide and offenses against humanity in Xinjiang and other human liberties abuses.” This was in last month, December 2021. 

UN bureaucrats have earlier voiced worry over Beijing’s extreme measures of stopping those who condemn the Chinese Communist Party.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

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