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Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai: Gold prices slip Dh1.5 in early trade on Tuesday
Gold prices slipped one-and-a-half dirham per gram at the opening of the markets in Dubai on Tuesday. At 9am UAE time on Tuesday, 24-carat slipped to Dh387.75 per gram, down from Dh389.25 per gram at the close of the markets on Monday. Similarly, 22-carat, 21-carat and 18-carat fell to Dh359.25, Dh344.5 and Dh295.25 per gram, respectively. Spot gold was trading at $3,217.7 per ounce, down 0.37 per cent due to a firmer dollar and optimism around the Russia-Ukraine war ceasefire. Linh Tran, a market analyst at said gold prices are likely to continue trading within a narrow range as markets await clearer signals from the high-level dialogue and upcoming economic data to determine the next directional move. Gold started the year off on solid footing at around $2,624.50 after rallying nearly 27 per cent in 2024. The momentum gained steam this year, as gold exhibited a relentless rally, creating a series of record highs amid a global flight to safety. By April 22, it had risen to a peak of over $3,500 – rallying more than 875 points or around 34 per cent in less than 4 months. 'However, the emergence of trade deals has since triggered a drop, with gold currently trading 8.4 per cent below its peak at $3,223. The precious metal was exhibiting a double top pattern on the day chart, which is typically indicative of bearish forces,' said Vijay Valecha, chief investment officer of Century Financial.
Wall Street Journal
01-05-2025
- Business
- Wall Street Journal
Oil Falls as U.S. Economic Data Fuels Demand Concerns
0753 GMT – Oil prices fall in early trading, with Brent crude down to $60 a barrel as concerns over weakening demand intensified after the latest data showed the U.S. economy contracted in 1Q for the first time since 2022. The international oil benchmark slips 0.9% to $60.53 a barrel, while the U.S. oil gauge WTI trades 1% lower to $57.61 a barrel. Both contracts are down 19% on month. The outlook is also clouded by prospects of OPEC+ accelerating its unwinding of output cuts for the second straight month in June, with Reuters reporting that Saudi Arabia has signaled it can handle a prolonged period of low prices. 'April has been a turbulent month for the crude oil market, shaken by negative demand signals, strategic decisions by producers, and evolving geopolitical tensions,' says Antonio Di Giacomo, financial markets analyst at (
RNZ News
22-04-2025
- Business
- RNZ News
Surging gold prices reflect global jitters as NZD climbs past US60c
Photo: 123RF Gold prices are on a record-breaking streak as the US dollar continues to weaken against most major currencies. Spot gold hit another record high of US$3,440 an ounce in early trading, following US President Donald Trump's reposting of a comment over the long holiday weekend. "The Golden Rule Of Negotiating And Success: He who has the gold makes the rules." However, Westpac currency strategist Imre Speizer said there were other reasons why gold was finding favour with investors. "A major theme that we're seeing unfold is the questioning of the US dollar's identity as the reserve currency of choice in the world. That questioning has caused it to underperform," Speizer said. "There's clearly been large-scale selling of the US dollar and buying of other currencies, as well as buying of other instruments, like gold, which I think partially explains most sitting up near record highs. So essentially, there's a bit of a diversification away from the US dollar unfolding as we speak." The New Zealand dollar also continued to rise against the US dollar, trading at about US$0.60, compared with less than US$0.55 earlier this month. Foreign currency exchange market analyst Linh Tran at said the gold rally continued as defensive sentiment spread across global financial markets. "The rally remains supported by three core drivers: growing expectations that the Federal Reserve will soon shift to monetary easing, escalating trade tensions between the US and China, and persistent geopolitical risks-especially as peace efforts between Russia and Ukraine remain stalled," he said. He said the spotlight over the past week was on a hardline move by the Trump administration, terminating the "de minimis" rule, which was a trade provision that exempted imported goods valued under $800 from tariffs. "For years, this loophole has been used by many Chinese companies to ship low-cost goods into the US market without facing high tariff rates. Closing this channel will significantly raise the cost of Chinese goods and clearly signals Washington's increasingly tough stance on bilateral trade." In addition, he said tensions between the world's two largest economies intensified further with reports that China has cancelled a series of Boeing aircraft orders, citing a need to "reassess strategic priorities." Speizer said the unease was seeing a shift in sentiment by global reserve managers regarding the US as a safe haven. "Looking ahead, if this turmoil continues, not only will they question whether the US dollar is indeed safe, but they'll see alternatives like the Euro-denominated government bonds or government bonds from Germany as being a viable alternative to start parking some of that safe haven money into," Speizer said. New York-based 50 Park Investments chief executive Adam Sarhan told Reuters the US dollar weakness reflected the market uncertainty. "The fact that we're down so much today after a long weekend tells me, OK, investors went into the weekend, they looked at the situation, and they see more uncertainty, not less uncertainty," Sarhan said. "We're seeing more weakness now in the dollar and gold is at all-time highs, so clearly investors are spooked and fear is taking over." -RNZ/Reuters
Zawya
17-04-2025
- Business
- Zawya
XS.com steps forward as Titanium Sponsor at Money Expo Abu Dhabi 2025
UAE – the global leader in FinTech and financial services, is set to take center stage as the Titanium Sponsor of Money Expo Abu Dhabi 2025, scheduled for April 23-24 at the prestigious Conrad Abu Dhabi Etihad Towers. The event will gather top industry experts, investors, and traders from around the world for two days of high-level networking and innovative sector discussions. Commenting on the collaboration, Michael Xuan, Executive Director at HQMENA stated: 'We are thrilled to have on board as the Titanium Sponsor of the Money Expo Abu Dhabi 2025. Their dedication to enhancing the trading experience aligns seamlessly with the vision of our event. Together, we aim to create a dynamic environment for all participants.' Leveraging its team's expertise, the global multi-asset broker will showcase next-generation trading solutions. 's representatives will be on-site to connect with attendees, offering actionable insights and innovative approaches to modern trading. Shadi Salloum, MENA Director of commented on the company's participation: "We are excited to be the Titanium Sponsor of Money Expo Abu Dhabi 2025, a prestigious event that brings together the best minds in the financial world. Supporting this event aligns with our vision of reinventing the trading landscape through technological prowess, industry cooperation, and client-focused solutions. as a key player in the region, recognizes the UAE's vital role in the global financial ecosystem and remains committed to its growing market. We look forward to meaningful conversations that drive progress and create real value for traders and investors." The global multi-regulated broker invites visitors to Booth #41 for an exclusive look at its advanced financial solutions, in-depth market insights, and direct engagement with top trading experts. The agenda will also include expert panels, interactive product presentations, and strategic networking sessions, providing traders with essential tools to navigate today's competitive financial markets. Fueled by innovation, integrity, and a passion for client success, the multi-award winning broker is transforming the trading experience for investors across the globe. By participating in Money Expo Abu Dhabi 2025, the multi-award-winning broker solidifies its mission to revolutionize financial education and pave the way in groundbreaking innovation. Company Review The XS Group (operating under brand name 'XS' or ' is a Global Multi-Asset Broker providing access to trade a wide range of financial products. Established in Australia in 2010, has grown into a global market leader in the FinTech, financial services and online trading industry with licences in various jurisdictions and offices in different locations around the globe. offers traders, institutional investors and brokers worldwide access to deep institutional liquidity and advanced trading technology, combined with an efficient user experience, high-quality relationship management and excellent customer support. Risk Warning: Our products are traded on margin and carry a high level of risk and it is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. About HQMENA HuanQiao MENA (HQMENA) is dedicated to connecting businesses and facilitating investments in the region. Specializing in cross-border trade and market expansion, HQMENA organizes key conferences and trade missions that promote economic cooperation and cultural exchange. Leveraging its extensive network, HQMENA plays a vital role in fostering strategic partnerships across these areas.
Yahoo
18-03-2025
- Business
- Yahoo
Gold hits record high of over $3,000 fuelled by rising geopolitical tensions
The pound is higher against the dollar in early European trading, touching $1.30, a level it had not breached since November. The uptick is largely attributed to a weaker dollar, which has come under pressure in recent weeks. The US dollar index ( which tracks the greenback against a basket of six major currencies, is down almost 6% from a two-year peak set in mid-January amid worries that Donald Trump's tariffs and retaliatory measures from other countries could push the US economy into a recession. Volatility around sterling is expected this week, particularly with the Bank of England's upcoming policy meeting on Thursday. Read more: Bank of England poised to hold UK interest rates amid Trump trade war Investors will be keenly watching for any indications on interest rates, with expectations that the central bank will keep rates unchanged at 4.5%. Meanwhile, sterling was lower against the euro (GBPEUR=X) on Tuesday morning, at €1.1870. Despite forecasts predicting challenges for the euro this year, the currency has recently gained ground. A significant factor in the euro's recovery has been anticipated increases in European defence spending, which have provided support to the single currency. Gold prices have hit a fresh all-time high above $3,000 per ounce, fuelled by escalating geopolitical tensions in the Middle East, fears of a prolonged trade war and a weakening dollar. Spot gold climbed 1.3% to $3,025.43 per ounce, while gold futures rose 0.8% to trade at $3,028.80. This marks a 15% gain for the precious metal since the start of the year, having closed December at $2,623 per ounce, adding to a 27% surge in 2024. The recent decline in the dollar has played a significant role in pushing gold prices to new heights. As analysts at Deutsche Bank noted, "Investors continue to rotate away from the US dollar, seeking perceived safe havens amidst heightened policy uncertainty." Read more: The impact of freedom and choice pension reforms 10 years on Linh Tran, market analyst at attributed the surge in gold prices to rising tensions in the Middle East and the ongoing US-China trade conflict. Tran explained: 'These uncertainties have not only increased demand for gold but have also pushed significant capital inflows into the precious metals market, contributing to gold reaching record-high prices.' Australian bank ANZ reckons gold has further to climb. They say: '[For gold] we maintain our bullish view, amid strong tailwinds from escalating geopolitical and trade tensions, easing monetary policy, and strong central bank buying.' Oil prices are higher amid escalating Middle East tensions and raising concerns over global supply stability. Brent crude futures rose 0.9% to near $71.20 per barrel, while US West Texas Intermediate (WTI) crude climbed 1% to $68.24 per barrel. Israel launched a series of military strikes across Gaza, with the nearly two-month-old ceasefire with Hamas appearing to be quickly falling apart. Matt Britzman, senior equity analyst at Hargreaves Lansdown (HL.L), said that concerns over supply disruptions due to ongoing conflicts in the Middle East are lifting oil. He explained: 'Israel's large-scale attack on Gaza and President Trump's threats against Iran have added to the uncertainty, while expectations of increased demand from China, fuelled by stimulus plans and strong economic data, are acting as another tailwind.' The strikes launched by the US in response to Houthi attacks on Red Sea shipping, have also raised alarm over the stability of oil flows through this vital maritime route. A US official indicated that the military campaign could last for weeks, further intensifying fears of supply disruptions. Trump said he would view attacks by Yemen's Houthis on shipping as equivalent to direct affronts by Iran. Alongside geopolitical risks, stronger-than-expected economic data from China is helping to bolster market sentiment. Retail sales for January and February showed robust growth, fuelling optimism that demand could pick up in the world's largest crude importer. However, the positive retail figures come amid rising unemployment and a slowdown in factory output, presenting a mixed outlook for China's broader economic performance. In broader market movements, the FTSE 100 (^FTSE) was higher on Tuesday morning, up 0.3% to 8,706.24 points at the time of in to access your portfolio
