Latest news with #Traze
Wall Street Journal
09-07-2025
- Business
- Wall Street Journal
Gold Edges Lower, Weighed by Higher Treasury Yields
2345 GMT — Gold edges lower in the early morning Asian session, weighed by higher Treasury yields. 'Stronger-than-expected U.S. labor data last week dampened expectations for a near-term rate cut from the Fed,' Traze's Erkin Kamran says in an email. The 10-year Treasury yield remains elevated, boosting the opportunity cost of holding nonyielding assets like gold, Kamran says. Meanwhile, market participants could stay cautious ahead of FOMC minutes due out later today, Kamran adds. Spot gold is 0.1% lower at $3,297.76/oz. (
Khaleej Times
24-06-2025
- Business
- Khaleej Times
Dubai: Gold prices drop further as Iran-Israel ceasefire takes effect
[Editor's Note: Follow the KT live blog for live updates on the Israel-Iran conflict.] Gold prices dropped further at the opening of the markets in Dubai as the Iran-Israel ceasefire took effect on Tuesday morning. The 24K variant of the precious metal dropped to Dh403.5 per gram down from around Dh404 per gram last night. Similarly, 22K, 21K and 18K slipped to Dh373.75, Dh358.0 and Dh307.25 per gram, respectively. Spot gold was trading at $3,340.49 per ounce, down 1.19 per cent. Osama Al Saifi, managing director for Mena at Traze, said gold prices extended the losses, as renewed strength in the US dollar and lingering Fed hawkish stance outweighed safe-haven flows. 'The yellow metal could remain under pressure from a resilient dollar. Last week's Federal Reserve projections flagged persistent inflationary risks. With several Fed officials set to speak this week and Chair Jerome Powell's congressional testimony on the agenda, markets are bracing for further policy clarity.' In addition, he added that gold could also remain exposed to geopolitical developments. 'While geopolitical tensions remain acute in the Middle East and Eastern Europe, investor focus could remain on macro data. PMI releases and weekly jobless claims could influence expectations on the pace of policy easing. In the meantime, elevated geopolitical risk may limit the downside,' he added.
Reuters
10-06-2025
- Business
- Reuters
Most Gulf markets gain as investors eye US-China talks
June 10 (Reuters) - Most stock markets in the Gulf ended higher on Tuesday, tracking gains in global equities as investors looked for progress in U.S.-China trade talks that could ease tensions between the world's two largest economies. U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers. World stocks, as reflected by the MSCI All-Country World index (.MIWD00000PUS), opens new tab, traded near record highs, while the dollar steadied against a range of currencies. Dubai's main share index (.DFMGI), opens new tab rose 0.1%, helped by a 1.8% rise in top lender Emirates NBD ( opens new tab. The bourse's gains were limited after the benchmark index hit its highest since 2008 on Monday. However, underlying momentum remains intact, suggesting the potential for further advances in the coming sessions, said Osama Al Saifi, Managing Director for MENA at Traze. "Although many sectors were in negative territory today, solid market fundamentals point towards continuous gains." In Abu Dhabi, the main index (.FTFADGI), opens new tab finished 0.5% higher. Oil prices - a catalyst for the Gulf's financial markets - climbed as investors awaited the outcome of U.S.-China trade talks and as Saudi Arabia's crude supply to China is set to dip slightly. The Qatari index (.QSI), opens new tab advanced 1.3%, led by a 1.4% gain in the Gulf's biggest lender Qatar National Bank ( opens new tab. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab closed 0.7% higher, with Talaat Moustafa Group Holding ( opens new tab rising 2.5%. ** The Saudi and Bahrain bourses remained closed due to a public holiday.
Business Recorder
10-06-2025
- Business
- Business Recorder
Most Gulf markets gain as investors eye US-China talks
Most stock markets in the Gulf ended higher on Tuesday, tracking gains in global equities as investors looked for progress in U.S.-China trade talks that could ease tensions between the world's two largest economies. U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers. World stocks, as reflected by the MSCI All-Country World index, traded near record highs, while the dollar steadied against a range of currencies. Dubai's main share index rose 0.1%, helped by a 1.8% rise in top lender Emirates NBD. The bourse's gains were limited after the benchmark index hit its highest since 2008 on Monday. However, underlying momentum remains intact, suggesting the potential for further advances in the coming sessions, said Osama Al Saifi, Managing Director for MENA at Traze. 'Although many sectors were in negative territory today, solid market fundamentals point towards continuous gains.' Most Gulf markets rise, Dubai's main index hits over 17-year high Abu Dhabi, the main index finished 0.5% higher. Oil prices - a catalyst for the Gulf's financial markets - climbed as investors awaited the outcome of U.S.-China trade talks and as Saudi Arabia's crude supply to China is set to dip slightly. The Qatari index advanced 1.3%, led by a 1.4% gain in the Gulf's biggest lender Qatar National Bank. Outside the Gulf, Egypt's blue-chip index closed 0.7% higher, with Talaat Moustafa Group Holding rising 2.5%. The Saudi and Bahrain bourses remained closed due to a public holiday. ------------------------------------- Abu Dhabi up 0.5% to 9,796 Dubai added 0.1% to 5,599 QATAR rose 1.3% to 10,697 EGYPT gained 0.7% to 32,904 OMAN was up 0.1% to 4,582 KUWAIT added 0.8% to 8,925 -------------------------------------
Zawya
16-05-2025
- Business
- Zawya
Mideast Stocks: Dubai and Abu Dhabi end week in positive territory as Trump wraps Gulf tour
Dubai's main share index rose to a record high on Friday, settling up 1.05%, as a slew of business deals between the United Arab Emirates and the United States boosted investor confidence. President Donald Trump on his last stop of a Gulf tour on Friday said that the United Arab Emirates and the United States had agreed on a path for the Gulf country to buy advanced AI semiconductors from U.S. companies, a major win for Abu Dhabi's efforts to become a global AI hub. Deals featuring advancements in AI alongside investments in aviation, energy, and other industrial sectors, have improved the outlook for various sectors and fuelled expectations for broader economic growth and development in the UAE, Osama Al Saifi, Managing Director for MENA at Traze said in a note. Abu Dhabi's benchmark index also closed up 0.3%, the index clocked gains for fifth straight week and clocked a weekly gain of 0.29%. Meanwhile, oil prices also improved, with Brent crude futures rising 0.5% on Friday. ABU DHABI rose 0.30% to 9,654.22 DUBAI rose 1.05% to 5,455.41 (Reporting by Chandini Monnappa and Rishab Shaju in Bengaluru; Editing by Shreya Biswas )
