#gold
Bullion rose more than 1 per cent to scale an all-time peak of $3,219.84 earlier in the session, and has gained around 5 per cent this week
Spot gold was down 0.3 per cent at $3,027.90 an ounce as of 0331 GMT, after dropping over 1 per cent earlier in the session to its lowest
Spot gold was little changed at $3,048.37 an ounce as of 0350 GMT, after hitting an all-time high of $3,055.96 earlier in the session
Bullion is on track for a second consecutive weekly increase, with a 2.5 per cent gain so far
Spot gold rose 0.3 per cent to $2,898.27 an ounce as of 0501 GMT, while US gold futures firmed 0.1 to $2,902.50
The dollar index wallowed near a four-month trough as the US exempted automakers from the 25 per cent tariffs on Canada and Mexico for a month
The US central bank held interest rates steady in its last meeting
The dollar index was set for a weekly gain of 0.7 per cent so far, making greenback-priced gold more expensive for foreign buyers
Bullion had scaled an all-time high of $2,954.69 on Thursday
Gold’s upside remains capped as first round of talks between the US and Russia over potential peace deal in Ukraine
The dollar index hovered near a two-month low as traders assessed recent weaker-than-expected US economic data
The market is slightly overbought, which can create some technical profit booking after nearing the $3,000 level
Bullion’s eighth record high of 2025 has brought the glittering $3,000 milestone into view
Spot gold was up 0.2 per cent at $2,848.69 per ounce, after hitting a record high of $2,853.97 earlier in the session
Gold is considered a safe investment during geopolitical turmoil and thrives in a low interest rate environment
Gold is sticking closely to its role as a safe haven during economic and geopolitical uncertainty
Gold has been supported by weakness in the dollar after inflation data this week sided with rate-cut expectations
The precious metal has been found spread across a 32-kilometre long stretch
In India, gold’s demand remained subdued last week as volatile prices prompted potential buyers to delay purchases, while higher rates in China are expected to potentially offset seasonal demand
The fall in prices is significant for UAE residents, where gold plays a key role in savings and investments
Gold has gained nearly 22 per cent so far this year with geopolitical tensions and uncertainty created by the upcoming US elections
Enthusiasm over a likely interest rate cut by the US Federal Reserve in September propelled bullion to an all-time high of $2,509.65 on August 16
Saudi Arabia plans to award more than 30 additional mining exploration licences to foreign investors in 2024
Rise in aluminium and gold sales volume boost Saudi mining giant’s earnings
The ministry of finance said its inspections of the refineries uncovered 256 violations, eight for each refinery
The combination of bearish and bullish factors for gold may end up having the effect of keeping the price in a relatively narrow range for the rest of the year
The budget has introduced changes for NRIs such as an increase in the rate of capital gains and remittances
Over the next six to 12 months, Citi expects gold to rise $2,700-$3,000 per ounce and silver to climb $38 per ounce
Demand for gold from central banks has been elevated in the last two years as some countries diversify their foreign currency reserves
While oil prices rose over 1 per cent on Monday in muted trade, gold hit a record high of $2,449.89 last week, but has shed more than $100 since then