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Economy

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Gold set for strong quarterly rise after interest rate-driven drop

On the last trading day of 2022, spot gold rose 0.2% to $1,818.70 per ounce.
By TRENDS Desk
December 31, 2022 10:52 am
  • Gold prices moved up on Friday, as the non-yielding metal is on course to close its best quarter since June 2020
  • Back-to-back rate hikes by the US central bank pushed gold to a more than two-year low in September

Washington, United States – On the last trading day of 2022, spot gold rose 0.2 percent to $1,818.70 per ounce by 2:17 p.m, while U.S. gold futures settled unchanged at $1,826.2, Reuters reported.

Bullion is only down about 0.5 percent in 2022 as back-to-back rate hikes by the U.S. central bank pushed gold to a more than two-year low in September, but prices have pared losses since.

The reaction of global central banks to rising inflation will dictate market sentiment through 2023, according to economists quoted by Reuters.

Gold prices moved up on Friday, as the non-yielding metal is on course to close its best quarter since June 2020, thanks to predictions of fewer interest rate hikes by the U.S. Fed following a drop from record highs earlier this year.

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