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Commodities

Dubai Gold Rates Spike Amid Global Market Jitters

Guavy AI Editorial Team
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Dubai gold rates have increased amid global market jitters, climbing Dh7.25 per gram to reach Dh539.25 for 24K gold on Friday. This move comes as international gold remains near record territory, with investors awaiting crucial US employment data for clues about the Federal Reserve's next interest-rate decision.

The US-Iran tensions and concerns surrounding the Strait of Hormuz have intensified, keeping financial markets on edge. Brent crude has risen to $96.06 a barrel, while US West Texas Intermediate reached $92.10, with both benchmarks poised for their strongest weekly gains since mid-July.

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