inflation
The U.S. imports a significant amount of gold and silver doré from Canada and Mexico for refining, which has now become more expensive
On Thursday, Trump asked his economics team to set up plans for reciprocal tariffs on every country taxing U.S. imports
These comments follow Powell's statement that policymakers shouldn't rush to cut rates amid inflation
President Trump said he would impose reciprocal tariffs as soon as Wednesday evening on every country that charges duties on U.S. imports
Russia is the world's third-largest oil producer and sanctions imposed on its crude exports have supported higher prices
The U.S. Consumer Price Index (CPI) report is scheduled for release at 13:30 GMT later today
U.S. West Texas Intermediate (WTI) crude fell by 28 cents, or 0.4 percent, to $73.04 a barrel
In the MENA region, 64 percent of chief economists surveyed by the World Economic Forum (WEF) expect moderate growth
Trump's 25 percent tariffs on steel and aluminum imports raised inflation fears, escalated trade tensions
Middle East recovery is expected to be fueled by an uptick in oil production and a reduction in regional conflicts
Gold hit an all-time high of $2,882.16 on Wednesday and has gained more than 2 percent this week
