Commodities
Dubai Gold Prices Rebound as Global Market Drops 6%
Dubai's gold prices rebounded on Wednesday, with 24K gold reaching Dh503.50 per gram after falling below that level on Tuesday.
The latest retail prices from the Dubai Jewellery Group show gains across all listed gold purities compared to Tuesday, although rates remain below Monday's levels for 24K, 22K, and 18K gold.
Global bullion markets were under pressure as investors awaited key US inflation data that could influence expectations for Federal Reserve interest rates. Higher interest rates generally weigh on gold because the metal does not generate interest income.