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 Gold rebounded by 1 per cent on Tuesday, snapping two days of losses as risk appetite evaporated, pushing European stocks down 1.5 per cent and knocking the dollar to a 17-month low against the yen.

That helped to reverse a two-day drop in gold that had sent prices back towards their lowest since late February. Uncertainty over the outlook for U.S. monetary policy limited moves, however.

Spot gold was up 1.4 per cent at $1,231.90 an ounce by 0930 GMT, while U.S. gold futures for June delivery gained $14.10 to $1,233.30.

German shares led equities losses after data showed the biggest fall in German factory orders for six months, suggesting that Europe's biggest economy is becoming caught up in a global slowdown. Crude oil prices fell and the euro retreated a quarter of a per centage point against the dollar.

"If I look at markets, I would say that there is some safe-haven buying," ABN Amro analyst Georgette Boele said.

"Gold doesn't want to go lower at the moment, so people are looking for a reason to buy it, and that seems to be negative equities."

Gold had posted its biggest quarterly rise in nearly 30 years in the March quarter, rallying 16 per cent on fading expectations of moves by the U.S. Federal Reserve to normalise interest rates because of concerns over the global economy.

The metal, which is highly exposed to rising rates because they lift the opportunity cost of holding non-yielding assets, has been pinned in a range by uncertainty over Fed policy.

Fed Chair Janet Yellen said last week that the U.S. central bank would proceed cautiously with rate increases.

But Boston Fed President Eric Rosengren on Monday expressed surprise that futures markets currently imply only one or no interest rate increases this year, saying that such a prediction could prove overly pessimistic.

"While the recent turmoil in financial markets has made the Fed reluctant to hike rates further in the near term, the tight labour market and resilient core inflation are likely to cause the Fed to deliver a 25 basis point hike before year-end," Societe Generale said in a note.

Among other precious metals, silver was up 1.7 per cent at $15.12 an ounce, platinum rose 1.8 per cent to $955.40 and palladium gained 1.2 per cent to $556.

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.