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Investors are cautious ahead of the Fed meeting, expecting rates to remain unchanged
Gradual oil output hikes in the GCC region will generate oil-sector growth of 3.2 percent this year, following two years of contraction
West Texas Intermediate (WTI) crude futures also rose by 0.4 percent to $67.61 per barrel
Bullion is on track for a second consecutive weekly increase, rising 2.5 percent so far this week
Spot gold was unchanged at $2,916.69 per ounce, while U.S. gold futures edged up 0.1 percent to $2,922.30
The dollar index neared a four-month low, making bullion cheaper for global buyers
Trump signed orders expanding tariff exemptions for goods from Canada and Mexico this week
The bank’s monetary policy committee decreased its headline lending rate by 250 basis points on March 6
As inflation continues to decelerate, the central bank is widely expected to deliver another 250 basis-point cut this week
In GCC markets, investor sentiment could be impacted by concerns over the economic fallout from new U.S. tariffs on China, Canada and Mexico
The U.S. dollar index fell 0.33 percent from more than a two-week high it hit in the previous session
Spot gold fell 0.4 percent to $2,864.94 an ounce, while April futures decreased 0.6 percent to $2,877.80 an ounce
