interest rate
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
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
Fed officials noted that the path toward looser monetary policy has become shorter
Brent futures, the global oil benchmark, rose 32 cents, or 0.4 percent, to $85.40 per barrel
