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  • 27-04-22

    UAE: Gold costs to be relieved, 24k falls to dh230 for each gram in Dubai

    (MENAFN) Gold costs relieved on Wednesday as the dollar remained at its highest in over two years and stressed request for greenback-priced bullion.

    Spot gold dropped 0.44 percent at USD1,898.37 for each ounce, at 9.12 AM UAE time.

    The dollar stayed solid after rising to its highest since March two years ago on Tuesday as worries about reducing expansion in China and outlooks the Federal Reserve is going to destructively hike rates increased demand for the greenback.

    A robust dollar makes greenback-priced gold not as much attractive for other currency holders.

    Gold costs had originated some backing in the earlier session as stockholders wanted protection from worries of delaying worldwide financial expansion and rising inflation.

    MENAFN27042022000045014228ID1104104202

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