Middle East
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
Gold dipped more than 2 percent in the previous session, its largest intraday decline in over a year
Investors fueled the increase as they continued to assess geopolitical concerns in the Middle East
The IMF expects growth to strengthen by 4.2 percent in 2025
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
