UAE Gold prices decline
Gold fell on Monday, with prices dropping below the $1,200 technical level, as the dollar strengthened on worries over the potential for more tariffs between the United States and China as part of their trade war.
Spot gold was down 0.2 percent at $1,199.56 an ounce at 0255 GMT, while US gold futures were down 0.2 percent at $1,204.30 an ounce.
Meanwhile, 24k gold is priced at Dh145.50 and 22k can be bought at Dh136.75 in Dubai.
“Gold prices are down on the strong dollar, as the trade between the U.S and Canada has not been settled and (US President Donald) Trump is pushing for another round of tariffs on China. All this is bad news for gold,” said Ji Ming, chief analyst at Shandong Gold Group.
