Market Pulse

TODAY'S INDEX (FADGI): 8886.66 ⬆️ 0.283%
TODAY'S INDEX (DFMGI): 4284.85 ⬆️ 0.394%
Gold trading at $ 2407
Brent @ $ 79.25

Time to buy? Gold prices in Dubai could hit Dh365 per gram in coming months, analysts say

Vijay Valecha, chief investment officer at Century Financial, said the current regional conflict could expand and this will only support gold price further.

“As the Fed hints at potential rate cuts by September, lower interest rates reduce the opportunity cost of holding non-yielding assets like gold, putting pressure on the dollar and making gold more attractive to investors holding other currencies. Forecasts suggest a promising trajectory for gold, with a potential target range of $2,700-$3,000, translating to Dh330-Dh365 in the upcoming months,” Valecha told Khaleej Times.

Market Smart News you need to know

Dubai Financial Market (DFM) today announced its consolidated financial results for the period ended 30 June 2024. Net profit before tax grew to AED 195.4 million, marking a significant 74% increase over the same period in 2023.

UAE’s Al Ansari Financial Services to acquire Bahraini remittance firm BFC Group Holdings for $200 million

Abu Dhabi’s Alpha Dhabi delivers H1 2024 revenue of Dh 29.3 billion, net profit of Dh6.7 billion

Active companies in DIFC exceed 6,000 for first time

Market Smart Pick

Presight AI Holding PLC (PRESIGHT)

• Performance: This tech-focused company has shown promising growth, reflecting a 1.24% increase recently and is regarded as a strong buy due to its innovations in AI and technology services.

• Outlook: As technology and AI continue to grow in importance, Presight AI is expected to see significant gains.

DISCLAIMER: This information is prepared by Market Smart and uses public and reliable sources. Market Smart nor any of its directors, isn't liable for its content or use. It's not intended as investment advice or a solicitation to trade financial products.