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- UAE's second Retail Sukuk deal signed with Emirates NBD
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19/11/2025 04:09 AST
Gold prices rose from a one-week low on Tuesday, supported by soft U.S. employment numbers, while investors assessed the likelihood of a Federal Reserve interest rate cut in December ahead of more delayed U.S. data releases this week.
Spot gold was up 0.6% at $4,068.05 per ounce, as of 12:01 a.m. ET (1701 GMT), after hitting its lowest since November 10 earlier in the session. U.S. gold futures for December delivery fell 0.2% to $4,068.40 per ounce.
Data on Tuesday showed that the number of Americans receiving unemployment benefits stood at a two-month high in mid-October, with continued claims for jobless benefits rising to 1.9 million in the week ended October 18.
"(The data) is slightly boosting market hopes for a December rate cut. This is helping gold and silver, which are trying to break a three-day losing streak," said Tai Wong, an independent metals trader.
Markets now see a 50% chance for a rate cut at the December meeting, up from 46% earlier in the day, but lower than 67% last week, the CME FedWatch tool showed.
Gold, a non-yielding asset, tends to do well when interest rates are lower. Prices fell over 3% on Friday and 1% on Monday as investors scaled back bets on another interest rate cut this year.
Markets now await minutes from the Fed's last meeting, due on Wednesday, and September jobs data on Thursday, both delayed due to the U.S. government shutdown.
Elevated official demand for gold is expected to continue for the foreseeable future, "supporting a strategically bullish bias and upside to our average price forecast of $4,000/oz for next year," analysts at Deutsche Bank said in a note.
Among other metals, spot silver rose 1% to $50.67 per ounce, platinum rose 7% to $1,544.66, and palladium dropped 1.2% at $1,409.72.
Khaleej Times
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20/11/2025
The UAE Ministry of Finance signed its second agreement under the Retail Sukuk initiative, partnering now with Emirates NBD to give citizens and residents wider digital access to UAE Treasury Bonds a
Gulfnews
20/11/2025
National Bank of Kuwait announces strategic collaboration with AZ eWallet, one of the leading fintech company in Kuwait. The collaboration reflects the bank's ongoing commitment to driving innovation
Kuwait Times
20/11/2025
Aamal Company, one of Qatar's leading diversified companies, has signed a memorandum of understanding (MoU) with Germany-headquartered Niedax Group, a global leader in cable management systems, to es
Gulf Times
20/11/2025
In a landmark achievement reaffirming its digital leadership in the region, QNB, the largest financial institution in the Middle East and Africa, has been awarded the prestigious "Digital Transformat
The Peninsula
20/11/2025
Saudi Aramco, one of the world's leading integrated energy and chemicals companies, announced on Wednesday 17 Memoranda of Understanding (MoUs) and agreements with a potential total value of more tha
Asharq Al Awsat
Financial Information Co.
Saudi Arabia