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Gold prices rose as support for the safe-haven asset strengthened amid the threat of conflict escalation in the Middle East
Data showed that the bank's net foreign assets in June were around SAR1.670 trillion
If the Fed signals the possibility of multiple rate cuts this year, gold prices will likely rally
The Bank of England and the Bank of Japan's policy meetings are also due this week
Brent oil futures expiring in September fell 0.2 percent to $79.63 per barrel
Investors will closely watch the Fed's interest rate decision on Wednesday, with no change in interest rates expected
Brent oil futures expiring in September rose slightly by 0.2 percent to $81.25 a barrel
Egypt's inflation to average around 25 percent in H2 of 2024, down from 31 percent in H1
U.S. economy grew faster than expected in Q2, but inflation pressures eased, maintaining market expectations of a September rate cut
Brent oil futures expiring in September were stable at $82.38 per barrel
If the PCE data reveals that inflation is slowing and the Fed can cut rates in September, gold prices will likely surge
Brent crude futures for September delivery slipped 0.5 percent to $81.26 per barrel
The $5 billion deposit was made by Saudi Arabia before Türkiye's presidential and parliamentary elections last year
In a bid to boost demand, India slashed import duties on gold and silver from 15 percent to 6 percent
Foreign currency inflows into the local market have jumped by about 200 percent
Gold prices reached a record high of $2,483.60 last week as markets expected a 25-basis-point U.S. interest rate cut by September
Brent oil futures expiring in September fell 0.2 percent to $82.26 a barrel
China's slower-than-expected economic growth sparked concerns over the country's demand for oil which continues to impact prices
Interest rate cut expectations and the political uncertainty in the United States have supported gold prices to their record high
This includes developing the exchange market, facilitating bilateral trade and direct investment, and remittance settlement
In the UAE, gold prices fell with 24-carat gold inching up to AED293.50 per gram
The Central Bank wants more evidence that inflation is still on track to reach the 2 percent target by the end of 2024
The bank noted that "the current monetary stance is appropriate to support the sustained moderation of inflation."
Brent oil futures for September delivery shed 0.5 percent to $84.73 per barrel
