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Lower prices to propel Gold sales in UAE

From khaleejtimes.com

The demand for gold and jewellery in the post-Diwali period will hit a peak during the months of December to March. Gold and jewellery sales will gain momentum in the coming weeks, as gold prices are likely to sustain a downward trend due to a weak global economy, uncertainty over the US-China trade war, and the forthcoming meeting of the US Federal Reserves this week, experts say. Analysts and market experts said that gold prices, which hit six-year highs of $1,557 in September, will test the resistance barrier of $1,445 per ounce in the coming weeks and may drop as low as $1,420 in the short-term period. Leading ... (full story)

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  • Category: Fundamental Analysis