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Globally, spot gold was up 0.3 percent at $2,454.40 per ounce
Brent crude futures, expiring in October, fell 0.1 percent to $80.94 a barrel
The issue date for these M-Bills is set for August 21, 2024
So far this year, gold prices have gained 19 percent and set a new record high of $2,483.60 on July 17
Brent crude oil futures for the October delivery rose 0.5 percent to $81.09 per barrel
Data on Tuesday revealed that U.S. producer prices increased less than expected in July, signaling a cooling in inflation
Gold prices will likely see additional support if a softer U.S. inflation report is released, raising hopes for a larger rate cut
Progress on inflation could support gold prices to retest a new all-time high once more
CBRT governor cited $26.5 billion increase in reserves, 50 percent target for lira deposits amid global volatility
Markets are now pricing in a 55 percent chance of a 50-basis-points cut in September with bets on an additional cut in December
Credit balance for the sectors from banks in Abu Dhabi was around $104.76 billion in May 2024
The UAE is one of only 36 countries worldwide currently piloting the implementation of CBDCs
