Gold prices rose to a record high on Monday, as a softer US inflation reading cemented bets that the Federal Reserve would deliver its first interest rate cut of the year in June.
Spot gold was up 1.2 per cent at $2,256,69 per ounce, as of 12.45 UAE time, after hitting an all-time high of $2,265.49 earlier in the session. US gold futures gained 1.8% to $2,279.10.
Spot silver rose 1.34% to $25.25 per ounce, platinum was up 0.53% at $916.08 and palladium climbed 0.7% to $1,021.77.
Trump intensifies trade war with 30% tariffs on EU and Mexico
US President Donald Trump has imposed a 30 per cent tariff on imports from Mexico and the European Union starting on August 1 after weeks of negotiations with the key trading allies failed to reach a more comprehensive trade deal.
China, ASEAN to submit upgraded free trade deal to leaders in October
China and the Association of Southeast Asian Nations (ASEAN) have agreed to submit a pact upgrading their free trade areas to their leaders for approval in October, according to China's foreign minister Wang Yi on Saturday.
UAE, Germany launch joint business council
The UAE and Germany have taken a major step forward in economic cooperation with the official launch of the UAE-Germany Business Council in Berlin.
Trump puts 35% tariff on Canada, eyes 15%-20% tariffs for others
Starting August 1, US President Donald Trump will raise tariffs on Canadian goods to 35 per cent from 25 per cent and has planned to impose 15 to 20 per cent tariffs on most other trade partners.
UAE committed to achieving planned oil production capacity
The Ministry of Energy and Infrastructure has reiterated that the UAE remains focused on delivering its planned production capacity of 5 million barrels per day by 2027.
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Hear the highlights from the week gone by on Dubai Eye 103.8. Listen again to the best interviews, advice and the top stories that has gripped our conversation this week.
UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
Apple Inc. shares fell Monday after a closely followed analyst warned that demand for the firm’s new iPhone 16 Pro model has been lower than expected. Is this a sign that the AI software just isn’t ready?
Does working from home kill productivity or can it benefit staff by giving them more flexibility and a better work/life balance?
Dubai’s current population is more than double compared to almost twenty years ago, which now stands at 3.7 million. Lots of families are also moving to the UAE now. So what does it mean for the property market?
Glory Ehirim Nkiruka is Noon’s first ever female delivery driver. In her first ever interview, she explained why she loves her job, despite the heat!
