Worldwide
Decline in inflation indicators could bode well for the precious metal
OPEC projects demand for crude to reach 43.2 million barrels per day in 2024
Stagflationary risks in the U.S. continue to support gold prices
U.S. employment data supported gold prices, which rose over 2 percent by the end of last week
Softer U.S. jobless claims data contributed to the optimism surrounding gold
Brent crude should return to the $90 per barrel mark as demand exceeds historic levels this year
Hotter-than-expected U.S. inflation data could potentially drive gold prices down
Airline reaffirms its 38-year commitment to Sri Lanka's tourism sector
China's central bank marked its 18th consecutive month of gold purchases in April
Gold prices have established a support base around the $2,280 mark over the past week
Maersk anticipates shipping disruptions to persist at least until the end of the year
Meanwhile, India and Indonesia continue to experience booming car sales
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
