OTCQX:BGMZF - Post by User
Post by
halcroon Mar 21, 2016 2:03pm
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Post# 24684314
gold prices fall again as dollar strengthens
gold prices fall again as dollar strengthenshttps://gulfnews.com/business/gold-rate/dubai-gold-prices-fall-again-as-dollar-strengthens-1.1694611
Dubai: After posting significant price increases this year, it looks like gold is retracting and might head towards stability soon.
Prices in Dubai dropped further on Monday, with 24-carat gold retailing at Dh150.75 as of 4pm, down from Dh152 per gram a day earlier. Since January until recently, the metal posted a nearly 20 per cent gain in prices, owing to subdued sentiment in the global markets.
The precious metals failure to reach new highs this week has been attributed to a stronger dollar. Gold also failed to gain support from the recent Federal Reserve decision to maintain a dovish stance on interest rates.