Dubai: Gold held steady after its sharpest weekly decline since June, as traders weighed persistently high energy prices ahead of the Federal Reserve’s next policy meeting. The metal hovered near $4,000 an ounce, having lost over 4% last week to hit its lowest level since July.

In the UAE, gold prices have inched slightly higher, but still giving shoppers a chance to get more grammage for each dirham. 24-karat gold is now priced at Dh484 versus the Dh481.50, The popular 22-karat is trading below the Dh450 mark at Dh448.25. Meanwhile, 18-karat is priced at Dh368.25 and light-weight 14-karat at Dh287.25 on Monday.

External factors at play

Crude eased from a six-month high as Trump told Fox News a decision is near on whether to negotiate with Iran or resume strikes. Meanwhile, American consumer confidence sank to a five-month low this October.…