Middle East
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
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
Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
Japan imports 95 percent of its oil from the Middle East
Strong dollar and rising treasury yields impact gold's appeal
Brent oil futures fell 0.1 percent to $89.89 per barrel
The 2024 figure represents a 0.1 percentage point increase from the previous World Economic Outlook report in January
Spot gold rose 0.17 percent to $2,387.42 per ounce
Brent crude futures for June delivery gained 48 cents, or 0.5 percent, settling at $90.58 per barrel
Businesses need to be agile, adapt their strategies and invest in digital infrastructure
