United States
The move will strengthen Malaysia's global AI development support
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
Interest rate cuts by the Fed, expected earlier this year, have been delayed due to stubbornly high inflation
U.S. crude production escalates to 13.15 million barrels per day in February
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
