After seeing two weeks, the high Gold price drops to the lowest since September. Know what is the exact Gold price in Dubai Today.
The Dollar index:
The dollar index fell to its lowest since September 29. Thus, making the expensive metal more affordable for buyers holding different currencies. As a result, the gold price drops to lowest since September. On Monday morning, the gold price was lightly down on 4th October 2021 after hitting a nearly two-week peak. It is due to the weaker US dollar.
How much price fallen of Gold in Dubai UAE:
Gold fell 0.1 per cent to $1,761.37 per ounce by 9.20 am UAE time. After hitting $1,765.54, its most powerful since September 23, earlier in the day. In the UAE, the valuable metal prices continued unchanged. The Dubai Gold and Jewellery Group data recorded 24K trading at Dh213.25 per gram, 22K at Dh200.5. 21K at Dh191.25 and 18K at Dh164.0 on Monday morning on 4th Oct 2021.
The lowest rate of Gold after September:
The dollar index fell to its lowest since September 29. Making Gold more affordable for buyers containing other currencies. The US Federal Reserve’s conditions for increasing interest prices could be met by the end of 2022. On Friday, Cleveland Fed Bank President Loretta Mester said that she anticipates the boom coming back to the central bank’s target next year.
Gold is traditionally seen as an increased hedge. However, diminished central bank incentives and interest rate hikes lead to push Govt bond yields up. So turn to translate into a higher chance cost for Gold that pays no interest. EXPO 2020 LIVE Updates.
Gold prices are going to depend on what will be the global condition. If the COVID-19 effect stays for long, it is going to affect more in the coming time. We might see volatility in the gold price in Dubai, UAE. So if you are planning to buy Gold, you can buy in every low.