Latest news with #SamerHasn
Wall Street Journal
06-05-2025
- Business
- Wall Street Journal
Oil Futures Edge Higher, Supported by Middle East Tensions
0010 GMT — Oil futures edge higher in early Asian trade, supported by Middle East tensions. Israel's military on Monday conducted airstrikes against targets in Yemen, a day after the Houthi rebel group launched a ballistic missile that struck near Israel's main airport. 'This escalation coincides with stalled U.S.-Iran nuclear negotiations,' Samer Hasn says in an email. 'Any further escalation could threaten oil infrastructure across the region and disrupt global shipping routes on a broader scale,' the senior market analyst adds. Front-month WTI crude oil futures are 0.1% higher at $57.20/bbl; front-month Brent crude oil futures edge 0.2% higher to $60.33/bbl. (
Khaleej Times
14-04-2025
- Business
- Khaleej Times
Dubai: Gold prices slip Dh1 per gram at opening of markets on first trading day
Gold prices slipped Dh1 per gram at the opening of the markets on the first trading day of the week in Dubai. The Dubai Jewellery Group data showed 24K trading at Dh389.0 per gram on Monday morning, down from Dh390 per gram over the weekend. Among the other variants of the yellow metal, 22K slipped to Dh360.25, 21K to Dh345.25 and 18K to Dh296.0 per gram. Globally, gold was trading at $3,226.63 per ounce, down 0.36 per cent at 9.05 am UAE time. It reached an all-time high of $3,245.28 per ounce on April 11. Investors have turned to buying gold on the decline. Over the two sessions, the largest physical gold exchange-traded fund, SPDR Gold Trust (GLD), recorded net positive inflows of more than $2.36 billion, a pace not seen since last February. Samer Hasn, senior market analyst at said gold's gains came amid the accelerating escalation of the trade war and growing uncertainty about its future course. These follow conflicting decisions on tariffs and doubts surrounding US President Donald Trump's strategy, in addition to existing concerns about the consequences of this war on the American and global economy. 'The trade war has reached the point where China responded by raising tariffs on imports from the United States. This mutual escalation further weakens hopes for a diplomatic settlement to the conflict. Donald Trump's 90-day tariff waiver on countries worldwide failed to calm market fears for long, as the trade dispute with China accelerated,' said Hasn.
Khaleej Times
26-03-2025
- Business
- Khaleej Times
Dubai: Gold prices drop by up to Dh1.75 per gram in early trade
The Dubai Jewellery Group data showed a 24K variant of the yellow metal falling Dh1. 75 per gram to Dh363.25 per gram, on Wednesday morning, down from Dh365 per gram. While 22K fell Dh1.5 per gram to Dh336.5 per gram, down from Dh338 per gram last night. Similarly, 21K and 18K also opened lower at Dh322.5 and Dh276.5 per gram, respectively. Spot gold was trading at $3,015.63 per ounce, down 0.19 per cent. Gold hit a record historic high of $3,057 per ounce in spot trading last week, but it has been trending lower in the past few sessions. Samer Hasn, senior market analyst at said gold's gains came after US Federal Reserve chief Jerome Powell's speech, which appeared to be in line with what investors wish in various aspects, both by avoiding a hawkish tone and by emphasising the uncertainty created by tariffs. 'Powell's favourable speech was the latest link in a chain of factors fueling gold's continued gains, where growing concerns about the potential ramifications of Donald Trump's trade policy and the economic turmoil resulting from the continued reluctance to impose tariffs were among the most prominent factors supporting the yellow metal to continue its gains,' he said. Ultimately, Powell's speech and the Fed's Summary of Economic Projections did not change market expectations about the path of monetary policy, and the likelihood remains that we will see at least two to three rate cuts this year, allowing gold to continue its gains eventually,' added Hasn.
Wall Street Journal
13-03-2025
- Business
- Wall Street Journal
Gold Edges Higher as Global Trade War Prospects Grow
2349 GMT — Gold edges higher in the early Asian session. EU and Canada unveiled retaliatory tariffs against the U.S. on Wednesday, further increasing prospects of a global trade war after the U.S. imposed levies on global steel and aluminum imports. Such prospects could enhance the safe-haven appeal of the precious metal. There's uncertainty over the impact of tariffs on the U.S. economy amid talk of a recession, Samer Hasn says in an email. Market turmoil has also deepened due to President Trump's repeated 'start-and-stop' over tariffs, Hasn adds. Spot gold is 0.1% higher at $2,937.82/oz. (
Khaleej Times
05-03-2025
- Business
- Khaleej Times
UAE: Gold prices slip after jumping nearly Dh5 per gram yesterday
Gold prices dropped in Dubai on Wednesday morning after jumping nearly Dh5 per gram on Tuesday. The Dubai Jewellery Group data showed 24K slipping Dh1.5 to Dh350.75 at the opening of markets in Dubai on Wednesday. Among the other variants, 22K, 21K and 18K opened lower at Dh326.25, Dh313 and Dh268.25 per gram, respectively. Globally, gold was steady at $2,911.04 per ounce at 9.20am UAE time. Samer Hasn, senior market analyst at said gold's gains come amid the highest levels of uncertainty this year in the US market, whether for stocks or bonds. 'This coincides with the US escalating its trade war with Canada, Mexico and China, and the beginning of the effects of this trade conflict in the slowdown in economic activity,' he said. The trade conflict escalated as new tariffs on Canada, and Mexico, and additional tariffs on China took effect. In response, China retaliated by imposing tariffs on American agricultural imports, specifically targeting soybeans, of which it is the largest importer, purchasing over $12 billion in 2024. Additionally, China introduced export restrictions on certain products with both civilian and military applications. Meanwhile, tariffs on American agricultural exports were one of the most prominent points that raised experts' concerns about the consequences of the trade war on the economy. China may also move to expand its restrictions on American companies, especially those in the technology sector, which is a source of concern for markets. 'The market is facing risks of an economic slowdown coupled with rising inflationary pressures, which could keep the state of high uncertainty about the path of monetary policy and could explain the heightened concerns in the bond market. This confusion could preserve gold's ability to recover,' added Hasn.
