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- Aramco CEO among business leaders urged by China's Xi to protect trade as Trump tariffs loom
- Oil Updates - crude set to rise for 3rd week on Venezuela, Iran pressure
- M&A deals in Saudi Arabia rise in sign of foreign investor confidence: Marsh
- Saudi maritime industry spurring global trade shift
- Saudi Crown Prince issues directives to curb rising land prices and rents in Riyadh
- Closing Bell: Saudi main index closes in green at 12,025
- Saudi Arabia's job market strengthens as unemployment falls to 7% in Q4 2024
- UAE unveils new dirham symbol and digital currency
- Oil Updates - crude holds near 1-month high, set for 3rd week of gains amid supply woes
- Qatar Islamic Insurance Group AGM proposes cash dividend of 50% of paid-up capital
08/10/2009 00:00 AST
Gold prices continued to scale new heights Thursday as the dollar dropped further against most major currencies.
Gold for immediate delivery was seen trading at $1050.13 an ounce at 12.00 noon Singapore time after hitting as high as $1,051.51 an ounce earlier.
It has risen 16 per cent over the past year. Gold for December delivery in New York gained as much as 0.8 per cent to $1, 052.50 an ounce, also a record.
Gold climbed to a record for a third day and crude oil advanced in New York as the US dollars drop toward a two week-low prompted investors to buy commodities as a hedge against potential inflation.
Bullion is heading for a ninth annual gain as the Dollar Index, a six-currency gauge of the US dollars value, has shed 6.5 per cent this year.
The US dollar traded at $1.4762 against the euro at 12.00 noon in Singapore, from $1.4691 Wednesday. The U.S. currency fell earlier this week on concern the Federal Reserve will be slower to raise interest rates than policy makers in other nations.
Oil has gained 58 per cent since the start of the year on concern that record government spending to combat the global recession will devalue currencies, spurring inflation.
CommodityOnline
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
27/03/2025
President Donald Trump signed a proclamation to implement a 25 per cent tariff on auto imports, expanding a trade war designed to bring more manufacturing jobs to the US and setting the stage for an
Bloomberg
26/03/2025
Oil prices were little changed on Tuesday as markets weighed the impact of newly announced US tariffs on countries that buy Venezuelan oil and the uncertain outlook for global demand.
Brent
Reuters
25/03/2025
Global energy demand saw an above-average annual rise of 2.2 percent in 2024, fueled by rising electricity consumption and growth in emerging economies, according to a new report.
Analysis b
Arab News
24/03/2025
Global economic growth is expected to average around 3.1 percent in the next five years, below the pre-pandemic level of 3.7 percent, according to an International Monetary Fund official.
Sp
Arab News
24/03/2025
Global borrowing hit a record $25 trillion in 2024, a $10 trillion surge from pre-pandemic levels, sparking concerns over sustainability, a new report showed.
The Organization for Economic C
Arab News
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