Globally, spot gold fell 0.24%.
World spot gold prices fell slightly on Thursday, while retail prices for the precious metal in Dubai remained unchanged on Thursday morning.
Globally, spot gold fell 0.24% to $ 1,739.76 an ounce at 9:10 am in the UAE. While US gold futures fell 0.3 percent to $ 1,736.50 an ounce.
In Dubai, the retail price for 24 carat gold was unchanged at AED 210.75 per gram. While the prices of 22K, 21K and 18K on Thursday morning stood at Dh198, Dh188.75 and 161.75 dirham per gram.
Global investors turned to riskier assets after the minutes of the last meeting of the US Federal Reserve Board indicated continued policy support and strengthened hopes for a quick economic recovery.
“If we continue to strengthen our economic reports, I think we will see a much greater likelihood of higher interest rates … higher yields. This will ultimately have a negative impact on gold, ”said Jeffrey Sica, founder of Circle Squared Alternative Investments.