Gold rose above $942 per ounce on Monday, strengthening as the dollar turned lower against six major currencies with slight caution toward riskier assets also proving supportive.
Gold was at $941.75 per ounce at 1256 GMT, up from $938.05 quoted late in New York on Friday. The precious metal earlier hit an intra-day high at $942.50 but is some way off a two week high of $948.20 hit last Friday.
A cautious approach to risk kept global stock market gains in check, while crude held under $70 per barrel following a bearish report on demand from the IEA, sapping gold’s appeal as a hedge against oil-induced inflation.
Analysts said the precious metal was holding onto gains but lacking upward momentum as currency markets would be indecisive until U.S. non-farm payroll data was released on Thursday.
“The dollar is going to be critical, and as long as it continues to weaken that tends to mean that gold...
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The UAE banking system is undergoing a period of stress. Many of the banks have been expanding rapidly, adding branches across the UAE. There has been a lot of product innovation and these products require an overhaul of existing IT systems at the same time as their in conversion to Basle II. br /br /Other key metrics include:br /br /1) Loan growth to stay below 10%, br /2) Capital adequacy will have to grow to 11% in 2009 and 12% in 2010. br /3) Significant wage inflation