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- Trump's Saudi Arabia visit heralds a new era of economic diplomacy
- ATC holds its AGM, approves a 20% bonus share distribution
- Zain Group Q1 net profit soars 66% YoY to $157m; revenue grows 15% to $1.74bn
- Bahrain All Share Index closes lower
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- Tax Authority, Omantel sign agreement to implement electronic invoicing system
- Contracts signed to implement 9 environment-friendly projects in 7 nature reserves
- Emaar Properties Q1 revenue tops AED10bn, up 50%
- OQEP signs RO21mn contracts with local firms
- Al Muhaidib Group tops Forbes Arab Family Businesses list
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 |
13/05/2025
Stocks and the dollar rallied on Monday after the US and China said they had agreed on a 90-day pause on tariffs and reciprocal duties would drop sharply, giving investors some confidence that a full
Reuters
13/05/2025
Saudi Arabia is pushing to expand food exports to China and attract agricultural investment with a ministerial visit that aims to deepen bilateral trade and boost non-oil economic cooperation.
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Arab News
12/05/2025
Egypt's annual inflation rose to 13.5 percent in April from 13.1 percent the previous month, driven by higher prices across key sectors including healthcare, transport, and housing, official data sho
Arab News
12/05/2025
Jordan's exports to countries in the Greater Arab Free Trade Area rose 12.2 percent year on year to 515 million Jordanian dinars ($726 million) by the end of February, amid strong demand for key goo
Arab News
09/05/2025
US and Chinese officials meet this weekend in Geneva for their first formal talks aimed at resolving a grueling tit-for-tat tariff war that threatens hundreds of billions in trade and roiled global m
Asharq Al Awsat
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