Gold edges down on firm dollar , Retail 24k priced at Dh 155 in Dubai and Dh144 per gram for 22ct gold this morning . Check today’s rate here.
Gold fell more than 1 percent, retreating for a third consecutive day to hit its lowest level this year as the dollar rallied on higher US borrowing costs.
Gold lost 1.6 percent in spot trade at $ 1290.91 an ounce, after earlier hitting its lowest level since late December at $ 1289.40 an ounce.
The yellow metal fell $ 27.90, or 2.12 percent, in the settlement of US contracts for delivery in June to $ 1290.30 an ounce.
The US dollar rose against a basket of currencies as yields on US 10-year bonds rose above 3 percent, driving borrowing costs higher in a number of other countries