Skip to main content Skip to footer 
Uncertainty over the outcome of the U.S. election kept traders largely biased towards safe havens such as the dollar and gold
Global factors, especially oil production and OPEC decisions, influence growth expectations for GCC economies
Analysts expect gold prices to reach over $2,800 this year and $3,000 in 2025
Globally, growth is expected to remain stable but lackluster, with projections of 3.2 percent for both 2024 and 2025
Market awaits the upcoming release of U.S. existing home sales data, which will provide additional insight into the health of the economy
This marks the first consecutive rate reduction in 13 years
The committee noted that this decision reflects recent global and local developments
The U.S. retail sales and industrial production data for September, as well as weekly jobless claims data, are all due later today
U.S. dollar index and Treasury yields dipped, making bullion more attractive to other currency holders
Traders are currently pricing an 88.2 percent chance of a 25-basis-point cut in November
Despite the rise in gold prices, the U.S. dollar's recent ascent and rate-cut expectations have limited gains
Brent crude futures for December delivery dropped 0.5 percent to $78.98 a barrel
