In the global gold market, Wednesday witnessed a mixed performance as the prices of the precious metal fluctuated. The narrowing of the US treasury yield played a crucial role, countering the stability of the dollar index against a basket of world currencies. While Dubai experienced a continued decline in gold prices, Doha remained unchanged, showcasing diverse trends in these economic hubs.
Gold Prices in Doha, February 28, 2024:
On this day, Doha reported stable prices in 22-carat gold. A 10-gram quantity was valued at 2,345 Qatari riyals, with 100 grams priced at 23,450 Qatari riyals. Notably, 24-carat gold exhibited a similar steadfastness at 2,490 Qatari riyals for 10 grams. In Indian rupees, the conversion unveiled prices at Rs 53,319.20 for 10 grams of 22-carat gold and Rs 56,616.13 for 10 grams of 24-carat gold
Contrasting with Doha, Dubai witnessed a decline in gold prices across various categories. In 22-carat gold, the 10-gram quantity dropped by 2.50 dirhams to 2,277.50 dirhams, and 100 grams decreased by 25 dirhams to 22,775 dirhams. Similarly, 24-carat gold in 10 grams fell to 2,460 dirhams, down by 2.50 dirhams. The conversion to Indian rupees revealed prices at Rs 51,413.88 and Rs 55,533.76 for 22-carat and 24-carat 10-gram gold, respectively.
Gold Prices in Doha, Dubai Vs India: Who Offers Cheaper Yellow Metal In 18 Carat, 22 Carat, 24 Carat?
Examining the comparison, 18-carat gold in Dubai showcased a decline in prices, with the 10-gram quantity now at 1,890 dirhams. In the same category, 22-carat gold in Dubai was priced at Rs 51,413.88 in Indian rupees for 10 grams.
Investors are closely monitoring the upcoming inflation data, seeking insights into the potential trajectory of rate cuts by the US Federal Reserve. Rahul Kalantri, VP Commodities at Mehta Equities, commented on the current market dynamics, emphasizing the impact of U.S. economic data on gold and silver prices.
