Central Bank
Recent interest rate cuts in eurozone, Canada would support crude demand
Dollar accounts for over 60 percent of global central bank reserves, making it the world’s most widely held currency
From economic signals to policies and developments in the Fed
UAE Central Bank Law and Commercial Transactions Law are key legislative instruments
Country’s trade volume with UAE, an important economic partner, hit $20 billion in 2023
Lower dollar index and U.S. Treasury bond yields support bullion's rise
Brent crude futures for August delivery rose 0.5 percent to $78.80 per barrel
The inflation rate in its 22 member states is expected to decline to 3.3 percent this year, compared to 9.3 percent in 2023
Softer job openings data, manufacturing PMI spur safe-haven demand for gold
Oman's addition brings AFAQ's total number of participant banks from the GCC region to 67
Signs of decline in the upcoming U.S. jobs data could support gold prices in the short term
