Worldwide
Currently, markets are pricing a 67 percent chance of a U.S. interest rate cut in September
Diminishing geopolitical concerns and a reevaluation of interest rate expectations impact bullion
OPEC+ is likely to extend its voluntary oil output cuts of 2.2 million barrels per day beyond June
Core inflation to fall to 5.25 percent in 2024 and 3.43 percent in 2025
Powell's assurance that further rate hikes were off the table will help bullion
Surprise increase in U.S. crude inventories and prospects of a ceasefire in the Middle East add downward pressure on prices
Investor sentiment remains cautious ahead of the interest rate decision by the US Federal Reserve
Gold prices have declined more than $140 after reaching a record high of $2,431.29 on April 12
U.S. crude production escalates to 13.15 million barrels per day in February
At COP28, countries pledged a total of $792 million for loss and damage funding arrangements
Gold lost 2.2 percent last week amidst easing tensions in the Middle East
Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices
Al Ghais anticipates a rise in oil demand to 116 million barrels per day by 2045
Gold could capitalize on potential downturns in U.S. macroeconomic data in the coming quarters
Despite the increase, gold prices were down around 2.3 percent, their biggest weekly drop since early December
Transport sector utilizes almost 90 percent of lithium-ion batteries
Non-oil trade between the UAE and Chile amounted to $305.1 million in 2023
Gold could remain between $2,300 and $2,350 unless a fresh catalyst emerges
The IEA expects China to account for 10 million electric vehicle sales this year
Australia's business confidence rises to the joint-highest in 14 months in April
Gold dipped more than 2 percent in the previous session, its largest intraday decline in over a year
UNCTAD forecasts 2.6 percent global economic growth in 2024, warns of urgent issues beyond inflation
This marks the third straight year of growth below the pre-pandemic average of 3.2 percent from 2015-2019
Bullion loses safe-haven appeal amidst reduced geopolitical risks
