Abu Dhabi: Gold prices rose at the opening of the markets in the United Arab Emirates (UAE) on Friday morning, October 6, ahead of the US non-farm payrolls report.
In Dubai, the 24-carat gold price opened at Dirhams 220.75 per gram on Friday as compared to its previous night’s close of Dirhams 220.50 per gram.
While 22, 21, and 18 carats were priced at Dirhams 204.50 dirham, Dirhams 198.00, and Dirham 169.75 per gram, respectively, at 9 am UAE time.
Globally, gold edged up from seven-month lows on Friday, as the U.S. dollar and bond yields took a breather after scaling new highs this week ahead of US non-farm payrolls data, Reuters reported.
Federal Reserve officials on Thursday indicated little concern that the recent rise in US Treasury yields could imperil a “soft landing” for the economy and said it could actually help the central bank fight inflation.
