Gold price in United Arab Emirates: Rates on July 4
The post Gold price in United Arab Emirates: Rates on July 4 appeared on BitcoinEthereumNews.com. Gold prices rose in United Arab Emirates on Friday, according to data compiled by FXStreet. The price for Gold stood at 394.56 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 392.74 it cost on Thursday. The price for Gold increased to AED 4,602.08 per tola from AED 4,580.87 per tola a day earlier. Unit measure Gold Price in AED 1 Gram 394.56 10 Grams 3,945.61 Tola 4,602.08 Troy Ounce 12,272.15 Gold daily digest market movers: Can Thursday’s data sway the Fed and drive bullion? The ADP Employment Change report released on Wednesday showed that the employment situation in the private sector has continued to weaken. Analysts had expected 95K jobs to be added in June. Instead, the actual figures revealed 33K jobs lost. President Trump continues to pressure Fed Chair Jerome Powell to reduce interest rates. On Wednesday, he called for the “immediate resignation” of Fed Powell on a Truth Social post. With the Fed’s independence coming under question, Gold could continue to find support from political uncertainty in the US, which has been weakening demand for the Greenback. Speaking at the European Central Bank (ECB) forum on Tuesday, Powell stated that “It’s going to depend on the data, and we are going meeting by meeting. I wouldn’t take any meeting off the table or put it directly on the table. It’s going to depend on how the data evolves.” When questioned about interest rates, he said, “In effect, we went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs. We didn’t overreact; in fact, we didn’t react at all. We’re simply taking some time.” FXStreet calculates Gold prices in United Arab Emirates by adapting international prices…
The post Gold price in United Arab Emirates: Rates on July 4 appeared on BitcoinEthereumNews.com.
Gold prices rose in United Arab Emirates on Friday, according to data compiled by FXStreet. The price for Gold stood at 394.56 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 392.74 it cost on Thursday. The price for Gold increased to AED 4,602.08 per tola from AED 4,580.87 per tola a day earlier. Unit measure Gold Price in AED 1 Gram 394.56 10 Grams 3,945.61 Tola 4,602.08 Troy Ounce 12,272.15 Gold daily digest market movers: Can Thursday’s data sway the Fed and drive bullion? The ADP Employment Change report released on Wednesday showed that the employment situation in the private sector has continued to weaken. Analysts had expected 95K jobs to be added in June. Instead, the actual figures revealed 33K jobs lost. President Trump continues to pressure Fed Chair Jerome Powell to reduce interest rates. On Wednesday, he called for the “immediate resignation” of Fed Powell on a Truth Social post. With the Fed’s independence coming under question, Gold could continue to find support from political uncertainty in the US, which has been weakening demand for the Greenback. Speaking at the European Central Bank (ECB) forum on Tuesday, Powell stated that “It’s going to depend on the data, and we are going meeting by meeting. I wouldn’t take any meeting off the table or put it directly on the table. It’s going to depend on how the data evolves.” When questioned about interest rates, he said, “In effect, we went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs. We didn’t overreact; in fact, we didn’t react at all. We’re simply taking some time.” FXStreet calculates Gold prices in United Arab Emirates by adapting international prices…
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