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The Double Taxation Agreement aims to strengthen economic ties through improved tax collaboration
This surge brings the total value to $10.644 billion by December 2024, a rise from $8.440 billion recorded in December 2023
Prices are set for weekly gains as uncertainty over U.S. interest rates and trade tariffs boosts safe haven demand
Factors that may support gold prices include stronger central bank demand or rapid deterioration of financial conditions
Spot gold rose by 0.3 percent to $2,632.82 per ounce
22-carat gold stood at AED 292.25, 21-carat gold was priced at AED 283, while 18-carat gold was at AED 242.50
Reserves grew month-on-month by $316.9 million
Gold consolidated between $2,600 and $2,700 as traders bought dollars before key central bank meetings
Over 70 percent of mineral capital investments are needed for coal, iron ore, copper and gold
In the UAE, gold rates fell by AED3.75, with 24-carat gold priced at AED318.25 and 22-carat gold at AED294.50
President-elect Trump threatens new trade tariffs on China, Canada, and Mexico, sparking fears of a trade war
Major shifts in the global gold trade will likely propel an 'Asian Century' for gold, with new gold economic corridors among BRICS nations
CBUAE’s gold reserves grew by 23.5 percent YoY, reaching AED21.28 billion by the end of July
Markets are also bracing for a series of economic indicators in the coming days
The dollar fell 0.1 percent from a month-long high, making gold priced in dollars more affordable for foreign buyers
Globally, spot gold was up 0.3 percent at $2,454.40 per ounce
In April 2024, CBUAE's gold reserves reached $5.54 billion
Can the Fed intervene to calm global markets?
In the UAE, gold prices fell with 24-carat gold inching up to AED293.50 per gram
Jewellery demand is anticipated to primarily revolve around the festival season beginning from August
Reserves increased on a monthly basis by 3.5 percent from AED19.615 billion in March 2024
The amount shrank by 0.3 percent compared to the previous month
From economic signals to policies and developments in the Fed
The gold reserves recorded 7 percent year-on-year increase
