UAE gold shoppers on hope of one last chance to buy 22K at Dh200 a gram – or lower – this year, since last-minute gold purchases have received a timely price drop.
It will not too long to wait to find out as global gold prices react to the latest data on the US economy and what the Federal Reserve intends to do about it. If the Fed confirms further rate hikes, then gold prices reportedly could be in for a drop ahead of markets closing for the weekend and Christmas break.
The consensus seems to be that gold will stick to $1,800 plus levels and push once more towards $2,000 if the global economy does drag itself into a recession.
