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Softer U.S. jobless claims data contributed to the optimism surrounding gold
Brent oil futures, expiring in July, advanced by 0.5 percent to reach $84.33 per barrel
The cost of borrowing will continue to be at a 16-year high
Hotter-than-expected U.S. inflation data could potentially drive gold prices down
Brent oil futures, set to expire in July, saw a 0.4 percent rise to reach $83.93 per barrel
China's central bank marked its 18th consecutive month of gold purchases in April
Gold prices have established a support base around the $2,280 mark over the past week
Brent oil futures expiring in July had risen by 0.5 percent to reach $83.73 per barrel
The report forecasts a growth rate of 4.30 percent for the Egyptian economy in 2025/2026
Currently, markets are pricing a 67 percent chance of a U.S. interest rate cut in September
OPEC+ is likely to extend its voluntary oil output cuts of 2.2 million barrels per day beyond June
Diminishing geopolitical concerns and a reevaluation of interest rate expectations impact bullion
Surprise increase in U.S. crude inventories and prospects of a ceasefire in the Middle East add downward pressure on prices
Powell's assurance that further rate hikes were off the table will help bullion
Investor sentiment remains cautious ahead of the interest rate decision by the U.S. Federal Reserve
Gold prices have declined more than $140 after reaching a record high of $2,431.29 on April 12
Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices
Gold lost 2.2 percent last week amidst easing tensions in the Middle East
Gold could capitalize on potential downturns in U.S. macroeconomic data in the coming quarters
Despite the increase, gold prices were down around 2.3 percent, their biggest weekly drop since early December
Brent crude futures saw a gain of 31 cents, equivalent to 0.4 percent, reaching $89.32 per barrel
The CBE's Monetary Policy Committee is scheduled to meet on May 23 to review the key interest rates
Gold could remain between $2,300 and $2,350 unless a fresh catalyst emerges
The unexpected decrease in U.S. inventories, as indicated by industry data, provided some support to crude prices
