Middle East
Bullion loses safe-haven appeal amidst reduced geopolitical risks
Market analysts referred to gold as a geopolitical trade rather than a monetary policy trade at the moment
Brent futures rose by $2.63, reaching $89.74 per barrel
Gold maintains safe-haven appeal despite Federal Reserve's stance on rates
Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
Brent oil futures fell 0.1 percent to $89.89 per barrel
Strong dollar and rising treasury yields impact gold's appeal
The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January
Central bank buying and geopolitical tensions drive gold's rally near record-high
Brent crude futures for June delivery gained 48 cents, or 0.5 percent, settling at $90.58 per barrel
The report indicates the UAE's current account surplus is expected to reach 8.4 percent in 2024 and 8.3 percent in 2025
