Gold steady in Dubai as global rally cools after steep sell-off

TECHNICAL INDICATORS SUGGEST THAT METALS’ RALLY MAY BE OVERHEATING

- BY NIVETHA DAYANAND Assistant Business Editor

Gold has been one of this year's standout assets, climbing more than 60 per cent since January. Silver has outperformed the yellow metal, gaining nearly 80 per cent this year.

Gold prices opened the week steady in Dubai after a turbulent stretch that saw a sharp global sell off wipe out part of bullion’s recent rally. Yesterday, 24-carat gold traded at Dh519.75 per gram, while 22-carat stood at Dh481.25.

In India, the 24-carat rate hovered at 13,085 rupees per gram and 22-carat at 11,995 rupees, showing limited movement despite volatility in global markets.