UAE: Gold prices drop in Dubai

UAE: Gold prices drop in Dubai

Investors await US consumer price index data (CPI) due later on Wednesday (May 12), which will set the direction for the precious metal. Naeem Aslam, the chief market analyst at AVATrade, said in the commodity market, traders are focused on risk-off and safe-haven assets such as gold. “Speaking from a technical price perspective, the gold price is currently in a battle with the 200-day simple moving average on the daily timeframe,” he said. Copyright © 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. ( ).