GCC News 24
Business
Politics
Tech
Society
Green
Sports
Entertainment
Translate image English Down Arrow
The MTA Speaks| Prayer times| Weather Update| Gold Price
Follow Us: Facebook Instagram YouTube twitter

Gold Prices Decline 1% While Dollar Gains Strength

Gold Prices Decline 1% While Dollar Gains Strength

Post by : Bianca Haleem

On Friday, gold prices recorded a slight decline, trading at approximately $4,590 per troy ounce. This drop was attributed to a recovering US dollar coupled with diminishing geopolitical tensions.

As of 15:48 GMT, spot gold was priced at $4,567.89 per ounce, reflecting a 1% decrease. Nevertheless, gold remains on track for a second consecutive weekly rise, following a peak of $4,642.72 hit on Wednesday.

US gold futures for February delivery also experienced a slight decline, down 1.1% to $4,570.90 per ounce.

In the realm of other precious metals, spot silver fell significantly by 4.5% to $88.14 per ounce. Yet, silver is set for a weekly gain of over 10%, after reaching a record high of $93.57 in the previous session.

Platinum prices saw a 4.7% drop to $2,296.75 per ounce but are still forecasted for weekly gains. Palladium also slipped by 3.1% to $1,744.95 per ounce.

Meanwhile, US stock markets showed an upward trend as shares in chip manufacturing regained attention amid a tumultuous trading week. At market open, the Dow Jones Industrial Average rose by 24.3 points (0.05%) to reach 49,466.7. The S&P 500 climbed 16.1 points (0.23%) to 6,960.54, and the Nasdaq Composite increased by 109.7 points (0.47%) to 23,639.687.

Jan. 17, 2026 11:50 a.m. 321
Global News World News Gold

More Trending News

Featured Stories

PV Sindhu Unseated from Indonesia Open by An Se Young
June 5, 2026 3:21 p.m.
An Se Young continues her dominance over PV Sindhu with a straight-game victory, eliminating her from the Indonesia Open quarterfinals.
Read More
UAE and Serbia Forge Stronger Strategic Ties Across Vital Sectors
June 5, 2026 3:19 p.m.
Leaders from the UAE and Serbia discuss enhancing trade and cooperation, focusing on investments, energy, and regional security.
Read More
Sharjah's Real Estate Transactions Reach AED3.1 Billion in May 2026
June 5, 2026 3:17 p.m.
In May 2026, Sharjah's real estate market saw AED3.1 billion in deals, showcasing robust investor engagement throughout the emirate.
Read More
U.S. Sanctions Cuban President Diaz-Canel
June 5, 2026 3:16 p.m.
The United States has imposed new sanctions on Cuban President Miguel Diaz-Canel increasing pressure on Havana over human rights concerns
Read More
Violence Against Burial Team Poses Threat to Ebola Control in Congo
June 5, 2026 3:10 p.m.
An assault on a burial team in eastern Congo raises serious concerns over the ongoing Ebola outbreak response measures.
Read More
Ballot Shortage Leads to Resignation of South Korean Election Chief
June 5, 2026 3:08 p.m.
NEC chairman resigns after ballot shortages caused disruptions and public outcry during local elections.
Read More
Controversy Surrounds Albania's Luxury Resort Plans
June 5, 2026 3:01 p.m.
Environmental concerns and protests erupt over a luxury resort project in Albania tied to Jared Kushner, sparking political debate.
Read More
Fresh Maritime Tensions at Pratas Islands Between Taiwan and China
June 5, 2026 3 p.m.
Taiwan warns China over a new coast guard standoff near the Pratas Islands, escalating tensions in the South China Sea.
Read More
Historic Achievement: Nigerian Conjoined Twins Successfully Separated in Abu Dhabi
June 5, 2026 2:43 p.m.
Abu Dhabi's world-class healthcare triumphs as 15-month-old Nigerian twins undergo successful separation after intricate surgeries.
Read More
Sponsored
Trending News
Achieve Radiant Skin at Home With This Simple Rice Flour Mixture

Achieve Radiant Skin at Home With This Simple Rice Flour Mixture

Say goodbye to costly facials! Discover how a rice flour concoction can rejuvenate your skin right f
May 30, 2026 2:06 p.m. 300
Meta Unveils Paid Subscription Plans for Key Platforms

Meta Unveils Paid Subscription Plans for Key Platforms

Meta introduces subscription services for Instagram, Facebook, and WhatsApp, offering users premium

May 28, 2026 12:23 p.m. 457
2026 Eid Al Adha Dates Expected in UAE According to Astronomical Predictions

2026 Eid Al Adha Dates Expected in UAE According to Astronomical Predictions

Astronomers anticipate Eid Al Adha in the UAE may start on May 27, 2026, prompting early holiday pla
May 7, 2026 12:30 p.m. 705
DAE's First Quarter Financial Surge Sets New Highs

DAE's First Quarter Financial Surge Sets New Highs

Dubai Aerospace Enterprise sees record first-quarter revenue and profit growth, alongside a major ac
April 29, 2026 2:22 p.m. 450
Sony's PS5 Price Increase Set for Southeast Asia on May 1

Sony's PS5 Price Increase Set for Southeast Asia on May 1

Starting May 1, 2026, Sony will raise PS5 prices across Southeast Asia. Discover what this means for
April 28, 2026 2:42 p.m. 491
Potential Super El Niño 2026: Understanding Climate Threats

Potential Super El Niño 2026: Understanding Climate Threats

Is a Super El Niño on the horizon for 2026? Explore its potential effects and global climate implica
April 27, 2026 12:30 p.m. 599
Global Oil Supply Crisis Heightens Market Uncertainty | Prices Rise

Global Oil Supply Crisis Heightens Market Uncertainty | Prices Rise

Global markets are unsettled as oil supply issues escalate, driving prices up and impacting investme
April 24, 2026 2:51 p.m. 481
Must-See Attractions in London for Every Traveler

Must-See Attractions in London for Every Traveler

Explore London's top attractions from royal sites to cultural hubs, ensuring an unforgettable trip f
April 24, 2026 1:41 p.m. 508