Gold prices jump to new all-time high - GulfToday

Gold prices jump to new all-time high


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Gulf Today, Staff Reporter

Gold hit another fresh record high on Monday, as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.

In the UAE the price of the 24K variant of the yellow metal jumped Dhs3.25 per gram to Dhs273.75 per gram on Monday morning as compared to last week’s close of Dhs270.5 per gram.

The 22K rised to Dhs253.5, 21K to Dhs245.25 and 18K to Dhs210.25 per gram.

The precious metal has enjoyed healthy buying interest this year as the US central bank hints at an easing of credit conditions.

On Monday it hit a new high of $2,256.44, according to Bloomberg News.

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