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Global physically backed gold exchange-traded funds saw inflows for the second month straight in June
The remittances in May 2023 amounted to around $1.6 billion, as reported by CBE
Recent weak U.S. economic data has raised the market's hopes for two interest rate cuts by the end of the year
Unemployment reached a 2.5-year high of 4.1 percent, signaling a softer U.S. labor market
If the non-farm payrolls data declines, investors will likely raise their expectations of a September Fed interest rate cut
Brent crude futures were down 48 cents, or 0.55 percent, at $86.86 a barrel
The dollar index declined 0.06 percent to 105.34, making greenback-priced bullion cheaper for other currency holders
This marks first decrease in months as disinflation process begins
As of the end of June, the country’s foreign reserves stood at $412.21 billion
Fed Chair Jerome Powell said on Tuesday the U.S. was back on a 'disinflationary path' but policymakers remain cautious
Brent crude futures for September delivery rose 0.2 percent to $86.41 per barrel
Fed chair Jerome Powell's speech later today to provide insight into the U.S. interest rate outlook
Brent crude futures rose 2 percent to $86.41 per barrel
Brent oil futures for September delivery increased 0.3 percent to $85.29 per barrel
U.S. personal consumption expenditures index rose by 2.6 percent in May after a 2.7 percent rise in April
The economy had contracted for two consecutive quarters in the second half of 2023, indicating a recent recession
GCC banks' revenue-to-assets ratio is 3.2 percent, well above the global average of 2.3 percent
Investors today await the U.S. personal consumption expenditures (PCE) price index, the Fed's preferred inflation measure
The strong U.S. dollar is driven by expectations the Fed will keep rates high due to a robust economy
Gold prices remain impacted by the Fed's policy decisions and rising geopolitical tensions
Brent oil futures for August delivery dropped 0.4 percent to $84.91 per barrel
Higher 10-year treasury yields and a stronger U.S. dollar trigger decline in gold prices
Brent oil futures expiring in August fell 0.1 percent to $84.90 per barrel
In a statement, CBK explained that the issuance period is three months, with a return rate of 4.375 percent
