March 25, 2023

Dubai Week

Complete Dubai News World


Gold rises when fears return on Evergrande

Gold, which had fallen 1% in the previous session, made up for some of its losses on Friday, with concerns about the weakness of the dollar and the fate of Chinese company Evergrande strengthening the yellow position. Metal as a safe haven.

Gold also rose 0.7 percent to 0924 GMT an ounce, and US gold futures rose 0.3 percent to $ 1755.10.

The dollar index was at a one-week low during the previous session, which made gold cheaper for holders of other currencies.

This is in stark contrast to what happened on Thursday, when gold fell to its lowest level in more than a month, and the increased challenge to raise US interest rates largely obscured the fall of the dollar, which is unusual.

Among other precious metals, silver rose 0.8 percent to $ 22.66 an ounce, up 1.2 percent so far this week.

Palladium was up one percent at $ 2003.27, but is on track to lose its third consecutive week.

Platinum traded down 0.6 percent at $ 983.29 an ounce, ending a two-week slump.


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