Gold price in United Arab Emirates: Rates on May 19
The post Gold price in United Arab Emirates: Rates on May 19 appeared on BitcoinEthereumNews.com.
Gold prices rose in United Arab Emirates on Monday, according to data compiled by FXStreet. The price for Gold stood at 379.70 United Arab Emirates Dirhams (AED) per gram, up compared with the AED 378.20 it cost on Friday. The price for Gold increased to AED 4,428.77 per tola from AED 4,411.19 per tola on friday. Unit measure Gold Price in AED 1 Gram 379.70 10 Grams 3,797.02 Tola 4,428.77 Troy Ounce 11,810.07 Daily Digest Market Movers: Gold price attracts safe-haven flows amid a softer USD; lacks bullish conviction Moody’s downgraded America’s top sovereign credit rating by one notch, to “Aa1” on Friday, citing concerns about the nation’s growing debt pile. This comes as the House panel approved US President Donald Trump’s tax cut bill early Monday, which could add trillions to the US debt. Meanwhile, US Treasury Secretary Scott Bessent told CNN News on Sunday that President Donald Trump will impose tariffs at the rate he threatened last month on trading partners that do not negotiate in “good faith” on deals. This further underpins the safe-haven Gold price at the start of a new week. The US Consumer Price Index (CPI) and the Producer Price Index (PPI) released last week pointed to signs of easing inflationary pressures. Adding to this, the disappointing US Retail Sales data increased the likelihood that the US economy will experience several quarters of sluggish growth. Moreover, the University of Michigan’s Surveys showed on Friday that the Consumer Sentiment Index deteriorated further in May and dropped from a final reading of 52.2 in April to 50.8 – the lowest level since June 2022. This reaffirmed bets for at least two 25-basis-point rate cuts by the Federal Reserve this year. The US Dollar continues with its struggle to attract any meaningful buyers in the wake…
Filed under: News - @ May 19, 2025 5:23 am