Dubai and the UAE are of global significance to changing global precious metal markets
Commodities
Latest in Commodities
Gold
Hubpay ventures into precious metals, linking UAE businesses with key gold markets
The firm said the move follows it recognizing the growing demand for reliable precious metals trading, particularly in Africa
crude oil
Oil prices hold ground after falling on China stimulus
Analysts said the market awaits further price direction from OPEC’s monthly report, to be released later on Tuesday, before charting the next course
agribusiness
Dubai-based Invictus Investment enters new markets with new products
The Netherlands, Jordan, Burkina Faso, and Senegal added to its global operations in 54 countries
Oil price
Oil prices fall as weak global demand overtakes concerns on Middle East tension
US crude and Brent crude, the international benchmark, tumbled 6 percent Monday, with the US crude falling well below $70 per barrel
crude oil
Crude oil edges up Friday, but could be headed for biggest weekly loss in over a month
Brent crude futures rose 16 cents, or 0.2%, to $74.61 a barrel, while US West Texas Intermediate crude was at $70.84 a barrel, up 17 cents
Bullion Market
Gold prices surge to all-time high on Friday as rate cut, US election uncertainties drive investors to the safe haven asset
The current rally in gold prices comes close on the heels of gold emerging as the standout asset in Q3, 2024, appreciating by a whopping 13.8%
Brent Crude
Oil eases though investors wary over potential Mideast supply disruption
Brent crude oil futures fell 0.5% to $79.01 a barrel, while the US West Texas Intermediate crude futures dropped 0.4% to $75.53 per barrel on Friday
geopolitical tensions
Lebanon-Israel conflict: Investors urged to stay calm as oil prices surge amid Middle East geopolitical tensions
While short-term volatility is likely, the long-term outlook for oil prices remains subject to a wide range of influences beyond the current Middle East crisis, experts say
geopolitical conflicts
Oil prices rise as Middle East conflict fuels supply disruption fears
Brent crude futures increased 0.87 percent to $74.54 a barrel, while the US West Texas Intermediate crude futures gained 1.03 percent to $70.82 a barrel
China
Inside the global lithium boom and the geopolitical race for EV supply chain dominance
China and Russia are positioning themselves as major forces vying for control over these vital lithium deposits through strategic diplomacy and deal-making
Gold
Surge in India’s gold demand expected on the back of import duty cut, wedding season purchases
The country’s gold imports more than tripled to 140 tons in August from the previous month
European Central Bank
Gold hits record highs on ECB rate cut, US Fed easing optimism grows
The ECB’s decision to implement its second rate cut in three months has fueled investor optimism about declining global interest rates
Gold
Gold prices surge to new heights; reach above $2,500 in anticipation of higher rate cut
A break above the year-to-date high of $2,531 could lead to further gains, according to market experts
crude oil price
Oil prices to spike, gold faces high volatility amid potential US Fed interest rate cut
The rebound in oil prices could be short-lived as concerns over demand and a potential supply surplus loomed large
Bullion Market
UAE gold prices: Is it the right time to buy? Experts weigh in
Despite recent market volatility, gold remains a sought-after safe haven asset as experts weigh its potential in a turbulent economic landscape
CBUAE
UAE Central Bank gold reserves reach $5.6bn in May 2024
This marks a 19.7% year-on-year increase from AED17.219 billion in May 2023, the central bank reported