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BusinessToday
3 days ago
- Business
- BusinessToday
Weekly Wrap: Gold Prices Dip Amid Global Market Volatility
Gold prices experienced a modest decline during the week of May 26 to May 30, 2025, influenced by global market dynamics and investor sentiment. In Malaysia, the price of 24-karat gold per gram decreased slightly over the week. This downward trend mirrored global patterns, where gold prices faced pressure due to various economic indicators and geopolitical developments. Bernama reported that physical gold was priced at US$3,312.40 per troy oz as per the London Bullion Market Association's afternoon fix on May 29. Internationally, gold prices were affected by a combination of factors, including shifting geopolitical scenarios and economic policy changes. Analysts noted that ongoing global tensions and economic uncertainties contributed to fluctuations in gold prices. Despite the week's decline, gold continues to be viewed as a safe-haven asset. Investors remain attentive to global economic cues, with many considering gold as a hedge against potential market volatility. Market analysts anticipate that gold prices will continue to respond to global economic developments in the coming weeks. Factors such as international trade agreements, monetary policy decisions and geopolitical events are expected to influence gold's trajectory. Related
See - Sada Elbalad
24-05-2025
- Business
- See - Sada Elbalad
European Central Bank Warns Of Gold Risks, World Gold Council Responds
Waleed Farouk Gold had a strong week, closing up 4.5%, driven by a wave of concern in financial markets about the stability of the global bond market amid mounting fears of a worsening sovereign debt crisis. These moves followed two disappointing bond auctions. The first was in Japan, which recorded its worst 30-year bond auction in decades, sending yields above 3.2%. The situation was no better in the United States, where the country held a weak 20-year bond auction, pushing yields to 5%. Unusually, these yield increases did not reflect expectations of strong economic growth. Rather, they were driven by growing concerns about governments' inability to repay their mounting debts, which dampened investor appetite for traditional assets and boosted demand for gold as a safe haven. Gold... An Asset Without Liability Although gold does not offer direct returns, its appeal lies in its status as a globally recognized monetary asset, unlinked to any counterparty or credit risk. Financial institutions such as the World Gold Council and the London Bullion Market Association emphasize the need to classify it as a "high-quality liquid asset," especially in times of volatility and uncertainty. However, this approach has not been without warnings. The European Central Bank recently issued a research paper indicating that a sudden surge in investment demand for gold could pose potential risks to financial stability, especially in the event of extreme economic events. The bank explained that commodity markets, including gold, exhibit structural weaknesses, most notably concentration in a small number of companies, widespread leverage, and increased ambiguity due to heavy reliance on over-the-counter derivatives. Market Responses: Gold Remains Stable Despite the warnings, analysts believe these concerns are exaggerated. In a statement, Joseph Cavattoni, Chief Market Strategist at the World Gold Council, confirmed that the market shows no significant signs of turmoil. In fact, gold has maintained its liquidity and stability over the past months, even during the height of trade tensions and fears of stagflation. Cavatoni said that gold's performance during crises reflects its resilience as a strategic hedging tool. He noted that the gold market is among the largest in the world, with an average daily trading volume of approximately $165 billion, making it the second largest trading market after S&P 500 futures. Gold Returns to the Forefront With rising doubts about governments' ability to manage their debts and eroding confidence in traditional debt instruments, gold appears to be reclaiming its historical role as a safe haven and store of value, especially during times of geopolitical and economic volatility and uncertainty. As investors await future developments in bond markets, gold remains in the forefront as a strategic asset that may be more important than ever. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies
Time Business News
23-05-2025
- Business
- Time Business News
Understanding Gold Prices in the Middle East: What Buyers
Gold has always been an essential part of Middle Eastern culture, wealth preservation, and investment strategy. Whether in the form of jewelry, coins, or bullion, gold is widely purchased across the region for both personal and financial reasons. But understanding the dynamics of gold prices in the Middle East is critical for anyone looking to buy, sell, or invest wisely. In this article, we'll explore the key factors influencing gold prices in countries like the UAE and Qatar, how they compare globally, and how tools like أسعار الذهب في الإمارات and gold rate in Qatar help buyers stay informed. Gold holds cultural, religious, and economic significance in the Middle East. It is traditionally gifted at weddings, used in dowries, and held as a form of emergency wealth. Moreover, many residents view gold as a hedge against inflation and economic instability. Due to its long-standing value and liquidity, gold continues to be one of the most trusted investments in the region. However, prices are subject to daily fluctuations influenced by both local and global factors. The primary influence on gold prices in the Middle East is the global gold market. Gold is traded in U.S. dollars, and international benchmarks such as the London Bullion Market Association (LBMA) rates often serve as the baseline. Middle Eastern countries adjust their gold rates based on these international movements. When global gold prices rise, so do local prices in the UAE, Qatar, and other Gulf states. Since gold is globally priced in dollars, currency fluctuations directly impact local gold prices. For example, if the Qatari Riyal weakens against the U.S. dollar, the gold rate in qatar may increase, even if international gold prices remain stable. Similarly, the UAE dirham is pegged to the dollar, which helps maintain relative price consistency, but small shifts in international demand can still cause noticeable changes. Gold demand often spikes during festive seasons like Eid, Diwali, and wedding months. This seasonal buying can drive up prices locally, even when global prices are steady. Retailers in Dubai and Doha may slightly increase margins during these periods due to higher foot traffic, so it's important to monitor local data on أسعار الذهب في الإمارات and gold rate in Qatar before making a purchase. The introduction of value-added tax (VAT) and import duties can affect the final gold price for consumers. In the UAE, a 5% VAT is applicable, although buyers can sometimes reclaim part of it under the tourist refund scheme. Qatar currently does not levy VAT on gold, making it attractive for retail buyers. Both countries have strict quality control laws, ensuring that buyers get certified and hallmarked gold, often with fair pricing based on real-time data. Real-time pricing is essential in the fast-moving gold market. That's why informed buyers rely on trustworthy platforms. أسعار الذهب في الإمارات provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. provides daily and hourly updates on gold prices in different karats (24K, 22K, 21K, 18K) across cities like Dubai, Abu Dhabi, and Sharjah. This platform is particularly helpful for tourists and residents planning their purchases. gold rate in qatar gives detailed information on live gold prices in Doha and other Qatari cities. It includes historical charts and analysis that help buyers understand trends and make better decisions. These tools are essential for both casual buyers and serious investors. Although gold prices across the GCC are based on global benchmarks, slight differences can occur due to taxes, supply chains, and market conditions. Criteria UAE Qatar Base Pricing Source Global (LBMA) Global (LBMA) Currency AED (pegged to USD) QAR (pegged to USD) VAT 5% (reclaimable by tourists) No VAT currently Market Type High volume, tourist-heavy Stable domestic demand Trusted Pricing Site أسعار الذهب في الإمارات gold rate in qatar While prices remain similar, tourists in the UAE may find more promotional offers due to higher competition among retailers. Meanwhile, Qatar offers stable pricing and fewer taxes, making it attractive for bulk or long-term purchases. Whether you're a tourist, an expat, or a local resident, the following tips will help you make informed decisions when purchasing gold: Use trusted sources like أسعار الذهب في الإمارات or gold rate in qatar before stepping into any store. Even minor daily price shifts can affect your total cost. 24K is the purest form, but is soft and best for investment. 22K and 21K are ideal for jewelry. Always check the hallmark stamp on the gold piece. Understand the difference between the gold price, making charges, and VAT (if applicable). Reputable sellers will provide full transparency. Prices tend to be lower during off-peak seasons. Avoid major holidays or wedding seasons when making charges and demands are higher. Some retailers offer guaranteed buyback at market rates. This is helpful if you plan to resell your gold in the future. Gold has consistently proven to be a safe haven during times of economic uncertainty. In the Middle East, it offers a dual benefit: cultural acceptance and financial security. By monitoring platforms like gold rate in qatar and أسعار الذهب في الإمارات, investors can track performance over time and enter the market at the right moment. Some investors in the region are also turning to digital gold and exchange-traded funds (ETFs), further expanding the scope of gold as a modern asset class. Gold prices in the Middle East are influenced by a combination of global market trends, local economic policies, and cultural buying patterns. Whether you're buying for adornment, savings, or investment, having real-time, accurate information is key. Reliable sources like أسعار الذهب في الإمارات and gold rate in qatar give you the tools you need to shop smart and invest with confidence. With gold continuing to hold its value across centuries and civilizations, it remains one of the most resilient and respected assets in the Middle East—and beyond. TIME BUSINESS NEWS
Mid East Info
19-05-2025
- Business
- Mid East Info
Emirates NBD Pioneers Physical Cross-Border Gold and Silver Bullion Transaction Service - Middle East Business News and Information
Dubai, UAE, May 2025: Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has become the first regional bank to launch a physical gold and silver bullion transaction service across international markets in UAE Good Delivery (UAEGD) approved standards. This milestone offering enables clients to securely purchase, trade, and store physical bullion — positioning Emirates NBD at the forefront of precious metals innovation and reinforcing its role as a trusted financial partner in the global bullion space. Launched in the beginning of May 2025, the first-of-its-kind facility supports the refining and sale of gold in accordance with gold and silver London Bullion Market Association (LBMA) and UAEGD approved standards. Integrated within a banking framework, the service represents a milestone for a regional financial institution and positions Emirates NBD as an accessible and trustworthy service provider operating at the heart of the rapidly developing market for safe-haven assets, both regionally and beyond. Establishing Emirates NBD as the bullion partner of choice, the service will deliver a comprehensive range of products to Emirates NBD's Corporate, Institutional and Retail Banking and Wealth Management clients. With the launch of its bullion service, Emirates NBD is fully aligned with the UAE's comprehensive and forward-looking policy of expanding its position as a leading gold trading destination. Currently, between 20-30% of the world's gold passes through Dubai, placing the emirate among the globe's top three gold hubs alongside Switzerland and London. The new service ably supports Emirates NBD's ongoing strategy to expand its growth footprint across locations and elevates its value proposition as the go-to, one-stop-shop for clients seeking diverse and trusted investments. The UAE's largest bank, Emirates NBD will engage bullion clients by offering competitive market pricing, market-based gold and silver lease rates, as well as short-term liquidity solutions with precious metals as collateral. The availability of fully backed, secure, and redeemable gold certificates means clients can own gold stored in secure vaults without physical possession, allowing them to buy, sell, or pledge certificates as collateral in the market. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said: 'The launch of Emirates NBD's new bullion service is part of our ongoing vision to diversify, expand, and evolve the range of services and transactions that are available to our network of customers across different locations. A unique offering from a leading regional financial institution, this service taps into growing demand from our clients who are increasingly seeking easy, swift and trusted access to the precious metal market while simultaneously helping to strengthen the UAE's deeply rooted status as an important and vibrant gold trading hub. With Emirates NBD as the go-to bullion partner, our clients in the UAE and further afield can enjoy a range of investment and trade opportunities within an established and sought-after sector that continues to evolve, develop, and define its importance in the face of the economic trends that are shaping today's markets, both globally and regionally.' Ammar Al Haj, Group Treasurer and Head of Global Markets at Emirates NBD, said: 'As the UAE, and Dubai in particular, has grown to be one of the most important destinations for gold trading, it's essential that we continue to engage clients through new functions that offer unique value propositions. The launch of Emirates NBD's new bullion product marks a bold step forward for the region — a transformative milestone that reflects our commitment to innovation, scale and client-centricity. As the first regional bank to introduce a physical gold and silver bullion transaction service with international reach, we're not only expanding our financial product suite, but also unlocking new pathways for institutional, corporate and individual clients to access trusted, cross-border precious metal solutions through our growing global network.' Interested clients are encouraged to connect with their bank Relationship Manager to explore how they can benefit from this service. About Emirates NBD: Emirates NBD (DFM: Emirates NBD) is a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region with a presence in 13 countries, serving over 9 million active customers. As at 31st March 2025, total assets were AED 1 trillion, (equivalent to approx. USD 272 billion). The Group has operations in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Russia and Bahrain and representative offices in China and Indonesia with a total of 839 branches and 4,539 ATMs / SDMs. Emirates NBD is the leading financial services brand in the UAE with a Brand value of USD 4.54 billion. Emirates NBD Group serves its customers (individuals, businesses, governments, and institutions) and helps them realise their financial objectives through a range of banking products and services including retail banking, corporate and institutional banking, Islamic banking, investment banking, private banking, asset management, global markets and treasury, and brokerage operations. The Group is a key participant in the global digital banking industry with 97% of all financial transactions and requests conducted outside of its branches. The Group also operates Liv, the lifestyle digital bank by Emirates NBD, with close to half a million users, it continues to be the fastest-growing bank in the region. Emirates NBD contributes to the construction of a sustainable future as an active participant and supporter of the UAE's main development and sustainability initiatives, including financial wellness and the inclusion of people of determination. Emirates NBD is committed to supporting the UAE's Year of Sustainability as Principal Banking Partner of COP28 and an early supporter to the Dubai Can sustainability initiative, a city-wide initiative aimed to reduce use of single-use plastic bottled water.
Business Wire
19-05-2025
- Business
- Business Wire
Sakhila Mirza to Lead Responsible Gold's Blockchain-Powered Trusted Gold Expansion
HOUSTON--(BUSINESS WIRE)-- Responsible Gold, a blockchain-powered ecosystem for traceable and ethically sourced gold, today announced the appointment of Sakhila Mirza as President. She will oversee the firm's next phase of growth, with a focus on advancing the practical implementation of responsible sourcing frameworks, supporting innovation across Responsible Gold's digital offerings. Mirza previously served as Deputy CEO and General Counsel at the London Bullion Market Association (LBMA) for over a decade, where she led initiatives around responsible sourcing, market integrity, and standards development. She played a key role in shaping global policies aimed at improving trust and transparency within the gold supply chain. 'It's an exciting time for the gold market when it comes to market innovation and what's coming down the pipeline for future growth,' said Mirza. 'Rather than just reading about it or having discussions on it, actually being involved–rolling your sleeves up and leading on it–this felt like the right opportunity.' At Responsible Gold, she will help to define operational goals, develop key performance indicators, and guide the firm's efforts to expand industry engagement. She will support the launch of new offerings, including a fund closely aligned with the firm's sourcing principles. Mirza has also been named portfolio manager at Pandion Asset Management L.P. a U.S. Securities and Exchange Registered Investment Adviser. 'Sakhila is one of the most respected voices in responsible sourcing, and her leadership will be instrumental as we continue to build a gold ecosystem rooted in transparency, traceability, and trust,' said Brent de Jong, Chairman of Responsible Gold. 'Her experience setting global standards and driving regulatory alignment across the sector makes her an ideal fit to help advance our mission and scale our solutions worldwide.' Her early priorities include addressing existing achievements across the Responsible Gold ecosystem and contributing to the company's long term vision of becoming a trusted partner for market participants seeking responsible supply chains. About Responsible Gold: Responsible Gold is a blockchain-enabled ecosystem advancing the ethical sourcing and traceability of gold from mine to vault. Its technology enables real-time custody tracking, tamper-proof digital records, and verifiable proof of provenance. The platform aligns with leading industry frameworks and supports United Nations Sustainable Development Goals.
