Photo: Reuters
Abu Dhabi: Gold prices dropped at the opening of the markets in the United Arab Emirates (UAE) on Wednesday morning, September 20, ahead of a much-anticipated rate decision by the US Federal Reserve.
In Dubai, 24-carat gold price opened at Dirhams 233.75 per gram on Wednesday as compared to its previous night’s close of Dirhams 234.5 per gram.
While 22, 21, and 18 carats were priced at Dirhams 216.5, Dirhams 209.5, and Dirhams 179.5 per gram, respectively, at 9 am UAE time.
The yellow metal hit a nearly three-week high on Tuesday.
Investors are keeping an eye out for the results of the two-day Federal Open Market Committee (FOMC) meeting that is being held on Tuesday, September 19 and September 20, which can have an impact on the precious metal.
This post was last modified on September 20, 2023 6:13 pm