Gold falls back after 0.6 per cent gain By Reuters Published Monday, July 06, 2015 Gold gave up early gains on Monday as a robust dollar outweighed safe-haven demand after Greeks rejected terms of a bailout package in a referendum. Spot gold was flat at $1,167.57 an ounce by 0401 GMT (8:01am UAE time), after earlier jumping by as much as 0.6 per cent. US gold climbed nearly 1 per cent in its biggest daily gain in about two weeks to $1,174.40 before paring some gains to trade up 0.3 per cent. Silver, platinum and palladium all declined. A higher dollar makes gold more expensive for holders of other currencies, while also lowering its appeal as a hedge.The greenback has also been supported recently by expectations the Federal Reserve will raise interest rates from record lows this year. That has weighed on gold, a non-interest-paying asset. Gold could get a boost if the Fed decides to postpone a rate hike or if there is a contagion risk in Europe because of the Greek crisis, a trader said. Rates will be updated twice daily Emirates 24|7 brings you the daily Dubai gold rate (22k, 24k, 21k and 18k), as well as currency exchange rates, including the Indian rupee, Pakistani rupee, Philippine peso, Sri Lankan rupee, sterling pound, euro and may more against the UAE dirham (US dollar). The rates for 24 carat, 22 carat, 21 carat, 18 carat and Ten Tola (TT) Bar (11.6638038 gram) will be updated four times a day to keep them fresh and relevant for buyers of gold bars and gold jewellery in the UAE. The update times for Retail Gold Rate in Dubai will be at 9.30am, 2.30pm, 5pm and 8pm (unless there is drastic fall or rise in the international rate). On Saturdays, the gold rates will be updated at 9.30am and this rate will stay static through Saturday and Sunday until the international market reopens on Monday. Please note that the retailers add making charges separately to the quoted rate of gold. The Retail Gold Rate in Dubai is being supplied by the Dubai Gold and Jewellery Group. Foreign Exchange Rates The Foreign Exchange Rates of major currencies will be updated twice each working day at around 8:30am and 3:30pm. These will cover both the Remittance Rates [for sending money] and the Currency Notes Rates [for buying and selling of currency notes]. The Foreign Exchange Rates are being supplied by UAE Exchange.

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