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Khaleej Times
2 hours ago
- Khaleej Times
Gold eyes $3,900 as uncertainty fuels bullish surge
Already up nearly 30 per cent in 2025 after a 25 per cent gain in 2024, gold is not only outperforming equities but also establishing itself as the ultimate investment haven. In a world increasingly plagued by economic instability, geopolitical tension, and fiscal recklessness, the yellow metal is once again proving its mettle. The outlook, according to analysts and strategists, is upbeat: gold could surge to a record average of $3,210 this year, with the potential to test highs as lofty as $3,900. This bullish trajectory is anchored in an evolving macroeconomic landscape. The latest Gold Focus report by Metals Focus, released this week, forecasts a 35 per cent jump in the annual average gold price for 2025. 'Looking ahead, we expect gold to break new ground,' said Philip Newman, managing director at Metals Focus. "Macroeconomic uncertainty and elevated geopolitical risks are likely to sustain investor interest... We forecast a record average price of $3,210 - a level that would finally surpass the real terms peak from 1980.' Non-liability-bearing reserve asset Driving this momentum is a potent mix of factors. Central banks are hoarding gold at record levels - net official sector purchases in 2024 reached 1,086 tonnes, driven by a strategic move away from the US dollar. With trust in the greenback eroding due to swelling US debt, renewed trade tensions under President Trump, and fiscal uncertainty, global monetary authorities are turning to the yellow metal as a non-liability-bearing reserve asset. Analysts say that trend is set to continue well into 2025. Retail and institutional demand also remain firm, despite sky-high prices. While Western markets have seen a slowdown, investor appetite in South and East Asia has more than made up for the slack. Metals Focus notes that physical demand from private investors held up far better than expected, a sign that gold's value proposition remains intact even at elevated price levels. Still a financial fortress Investor anxiety over the direction of US trade and monetary policy has added fuel to gold's rise. Expectations of further interest rate cuts by the Federal Reserve later in 2025 have stoked enthusiasm for non-yielding assets like gold. At the same time, speculative positioning - while a source of volatility - has reinforced the upward trend as investors consistently 'buy the dips.' Precious metals analysts argue that with central banks accumulating at historic levels, investors hedging against currency volatility, and governments showing few signs of fiscal restraint, "gold's narrative as a financial fortress seems far from over. For now, the yellow metal shines brighter than ever—offering not just a hedge, but a haven." A new price floor Yet not all voices in the market are equally bullish. Quant Mutual Fund recently warned that gold may have peaked in the short term, suggesting a potential 12 to 15 per cent correction in dollar terms over the next two months. Still, the fund maintains a positive medium to long-term outlook and advises investors to maintain meaningful exposure to precious metals within diversified portfolios. For a more nuanced perspective, George Milling-Stanley, chief gold strategist at State Street Global Advisors and one of the most respected voices in the gold space, weighed in on the outlook during a recent interview. A pioneer in gold investing and a key architect behind SPDR Gold Shares (GLD), Milling-Stanley believes the rally has deeper roots. 'We still have a lot of geopolitical turbulence, and gold historically performs well during periods of geopolitical turmoil,' he said. 'We still don't know where we stand with interest rates. We still have enormous uncertainty on the macroeconomic front.' He emphasises that the metal's rise has not been driven primarily by inflation, contrary to popular belief, but by an overarching climate of unpredictability. Importantly, Milling-Stanley believes that gold has now established a new price floor. 'It looks very much as if we've established a new floor above $3,000 an ounce,' he explained. 'Last year, the floor was around $2,000. That is a huge leap.' With this new baseline, gold could consolidate in the $3,000 to $3,500 range before attempting to breach resistance levels near $3,900, he said. Indeed, this sentiment is echoed in the numbers. The three-year annualised return on gold, as tracked by GLD, now stands at 21.4 per cent -well above its long-term average of around 8 per cent since 1971. For nervous investors navigating today's volatile markets, the allure is not just performance, but protection. Bar and coin investment has stayed broadly flat globally, but regional shifts are notable. Strong demand in China and India has compensated for softness in the West. Meanwhile, ETFs and institutional vehicles continue to see steady inflows, signaling confidence in gold's long-term value. Gold's resilience has also found an unexpected ally in trade policy. The reintroduction of tariffs by the US administration and fears of a full-blown trade war have rattled global investors, further undermining confidence in traditional assets and currencies. As these pressures mount, gold's role as an insurance policy becomes ever more relevant. Even if gold consolidates in the coming months, strategists believe the outlook remains fundamentally strong. 'The higher the uncertainty, the higher the upper limit,' said Milling-Stanley. 'Our bullish case suggests we could actually take out whatever resistance is available at the $3,500 area, and possibly even trade as high as $3,900.'
Zawya
18 hours ago
- Zawya
IntelliDent AI and Woxsen University forge strategic alliance to advance AI research, leadership & innovation in healthcare
IntelliDent AI, a Dubai-based healthtech company at the forefront of artificial intelligence solutions in dentistry, has signed a Memorandum of Understanding (MoU) with Woxsen University's AI Research Centre, Hyderabad, India. The five-year strategic partnership aims to drive collaborative innovation through joint research, live project exposure, and advanced technical training. This collaboration is designed to fuel co-innovation, AI-driven entrepreneurship, and cutting-edge research in digital healthcare. Under this agreement, IntelliDent AI and Woxsen University will engage in joint academic-industry initiatives focused on AI-driven healthcare solutions, consultancy-based projects, and the commercialization of technology innovations. The MoU outlines cooperation in the following key areas: Real-World AI Projects: IntelliDent will provide students from Woxsen's AI Research Centre hands-on exposure to live, real-time projects from the healthcare domain—preparing them to address real-world challenges with AI-driven solutions. Joint Research & Publications: Both institutions will collaborate on research grants, white papers, product prototypes, and academic publications that shape the future of medical technology. Entrepreneurship & Product Commercialization: Special focus will be placed on developing products from ideation to market readiness, with guidance on building startups and commercializing AI health tech solutions. Cross-Training & Knowledge Exchange: Faculty and industry professionals will exchange expertise in best practices, fostering a culture of mutual growth and continuous innovation. Strategic Awareness Initiatives: Co-hosted awareness programs, leadership bootcamps, and innovation challenges will promote ethical AI, responsible leadership, and entrepreneurship across emerging markets. Speaking on the occasion, Mr. Affaan Shaikh, Founder and CEO of IntelliDent AI, stated: 'This MoU with Woxsen isn't just about technology, it's about inspiring a generation of AI leaders who blend deep tech knowledge with entrepreneurial thinking and purpose-driven leadership. By embedding awareness, education, and innovation into every layer of this partnership, we are not only building smarter healthcare systems, but also empowering future changemakers.' The MoU was signed by Dr. Raul V. Rodriguez, Vice President of Woxsen University, and Mr. Affaan Shaikh, with oversight by Dr. Hemachandran K, Director of the AI Research Centre, and Mr. Khalid Shaikh, Advisor to IntelliDent AI. This milestone underscores IntelliDent AI's commitment to shaping global talent in healthcare AI and highlights Woxsen's ongoing mission to blend business, technology, and innovation through meaningful industry collaborations. Together, IntelliDent AI and Woxsen University are setting the foundation for impactful, future-forward education —where research, leadership, and real-world problem-solving converge.
Gulf Today
20 hours ago
- Gulf Today
Asian equities see largest monthly foreign inflow in 15 months
Asian equities attracted strong foreign inflows in May as concerns over an immediate economic hit from higher US tariffs eased, prompting a return by investors who had previously exited large and concentrated positions in the region. The inflows marked a sharp reversal after four consecutive months of net foreign selling. According to data from LSEG, foreign investors bought approximately $10.65 billion worth of equities across India, Taiwan, South Korea, Thailand, Indonesia, Vietnam, and the Philippines, registering their largest monthly net purchase since February 2024. US President Donald Trump's announcement of reciprocal tariffs in early April stoked concerns over the impact on Asian exports, exporter margins, and regional supply chains, but a subsequent 90-day pause for most countries later in the month helped ease investor fears and revive interest in regional assets. Goldman Sachs said it has revised its earnings growth forecast for MSCI Asia Pacific ex-Japan (MXAPJ) to 9 per cent for both 2025 and 2026, raising estimates by 2 and 1 percentage points, respectively, citing stronger macro growth in China and US-exposed markets. The upgrade was also supported by $600 billion in AI-related investments from Saudi Arabia to US firms, which are expected to benefit Taiwan and Korea, though the impact may be partially offset by a weaker dollar, the brokerage said. Taiwan equities witnessed $7.28 billion worth of foreign inflows, the largest monthly cross-border net purchase since November 2023. Foreigners also acquired a significant $2.34 billion worth of Indian stocks in their largest monthly net purchase since September 2024. South Korean, Indonesian and Philippine stocks also saw foreign inflows worth a net $885 million, $338 million and $290 million, respectively, while Thai stocks suffered $491 million of net selling. Despite heightened market volatility in the first half of the year driven by concerns over President Trump's trade policies, the MSCI Asia-Pacific Index has risen about 8.8 per cent year-to-date, outperforming both the MSCI World Index, which is up 5.4 per cent, and the S&P 500 Index, which has gained 0.98 per cent. Asian currencies were steady on Friday and poised for weekly gains after a phone call between US President Donald Trump and Chinese leader Xi Jinping signalled further trade talks, while most regional equities tracked Wall Street's overnight losses. In India, equities reversed course to rise 0.9 per cent after the Reserve Bank of India delivered a larger-than-expected cut to its key repo rate and lowered the cash reserve ratio to bolster economic growth. 'The RBI may have decided to move quickly to a more appropriate policy rate level. A shift towards neutral stance means more rate cuts may be unlikely in the near-term,' Jeff Ng, Head of Asia Macro Strategy at SMBC, said. The rupee inched up 0.1 per cent to 85.74 per dollar. Other regional currencies moved within a narrow band. The Thai baht and Singapore dollar were largely flat but were on track for weekly gains of 0.5 per cent and 0.4 per cent, respectively. The Malaysian ringgit was up nearly 0.6 per cent for the week. MSCI's index of emerging market currencies was flat after touching an all-time high on Thursday. The index is up 0.5 per cent for the week. The dollar index was little changed, after hitting a six-week low on Thursday, and was headed for a weekly loss of 0.5 per cent. Trump's erratic tariff moves and a worsening US fiscal outlook have triggered a flight from the dollar, prompting analysts to expect most emerging market currencies will retain or build on their gains over the next six months. In their closely watched hour-long phone call on Thursday, Xi pressed Trump to ease trade tensions that have rattled the global economy and warned against provocative moves on Taiwan, according to a summary released by the Chinese government. But Trump said on social media that the talks, focused primarily on trade, led to 'a very positive conclusion'. 'The talks look positive, and coupled with Federal Reserve rate cut expectations due to weak US data, might lead to further USD softening,' said Saktiandi Supaat, Head of FX research at Maybank. Markets are now bracing for the US jobs and non-farm payrolls report due later in the day, with concerns that a downside surprise could stoke stagflation fears and boost pressure on the Federal Reserve to quickly ease policy. Reuters
