Oil markets were supported by expectations that ongoing talks between the United States and Iran could help secure energy flows through the Strait of Hormuz, a key route for global crude shipments.

Gold and silver prices dived Friday, European stock markets ended the week up while Wall Street fell slightly with investors reassured by US President Donald Trump's pick to take over as head of the Federal Reserve.

While turbulence over Trump's ambitions for Greenland and pressure on the Federal Reserve have provided the most recent support for gold, the precious metal has, for two years, achieved all-time peaks on factors ranging from strong central bank demand and elevated inflation.

Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he blasted as part of Trump's pressure campaign for aggressive rate cuts.

London, United Kingdom -- Precious and industrial metals are surging to record highs as the year ends, driven by economic and geopolitical uncertainty, robust industrial demand and, in some cases, tight supply. Below AFP examines the reasons for the surge in demand.  Safe havens  Gold and silver are traditionally seen...

Tech firms also led the rally in Asia, with South Korea's Samsung Electronics, Taiwan's TSMC and Japan's Renesas among the best performers. Tokyo was the standout, piling on 1.8 percent thanks to a weaker yen.

Gold and silver tumbled for a second day Wednesday, bringing a rally in the precious metals to a juddering halt, while equities also sank after US President Donald Trump remarked that a meeting with Chinese counterpart Xi Jinping might not take place.

Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates, the US government shutdown, political turmoil in France and a Gaza ceasefire deal.

New York, United States - Gold topped $4,000 an ounce for the first time Wednesday as investors flocked to the safe haven metal on worries over the US government shutdown, France's political crisis and other global economic uncertainties. US and European stock markets rose while Asian equities fell as investors...

US and European stock markets mostly rose while Asian equities fell as investors also kept tabs on the AI investment boom and the prospect of further US interest rate cuts this year.

Gains for oil prices were relatively modest, while gas futures were unmoved after Israel's strikes Tuesday against Hamas in gas-rich Qatar. Gold, a traditional safe haven investment, traded close to its recent record highs.

Gold climbed to a new record Tuesday as investors sought out safe havens, while Japan's Nikkei and the Hang Seng pushed higher waiting for Wall Street's return after the Labor Day holiday.

Gold futures hit a record high Friday following reports of an unexpected tariff on the precious metal as global stocks finished the week on a mixed note.

Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices soaring as much as 13 percent at one point on fears about supplies from the region.

Both main crude contracts jumped around one percent after CNN reported multiple US officials as saying the government had received intelligence indicating Israel was preparing to target Iranian atomic facilities.

With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the release of key data that should give an insight into the impact of the US president's trade war. Several nations have moved to cut a deal with Washington to stem...

London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches record highs AFP explains why it remains such a trusted lifeline. The trading turmoil unleashed by US President Donald Trump's tariffs has triggered a record run for gold, widely viewed...

Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at the start of trading, with the blue-chip Dow falling below 40,000 points for the first time since August, a day after the S&P 500 experienced its largest drop since the...

Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow to the global economy. Wednesday of next week is now the focus of attention, with Trump labelling it "Liberation Day" as he prepares to unveil a raft of supposedly "reciprocal"...

Gold surpassed $3,000 for the first time Friday as US President Donald Trump's trade wars boost the safe-haven asset, while stock markets bounced on hopes US lawmakers will avert a government shutdown.

Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on parcels from China and Hong Kong

Hong Kong, China - Gold prices hit a record high above $2,700 on Friday as traders piled into the safe-haven commodity at a time of heightened geopolitical uncertainty, including in the Middle East after Israel said it killed Hamas chief Yahya Sinwar. Bullion hit an all-time high of $2,704.89 in early...

More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global equities after recent drops caused by worries of a possible US recession. Wall Street shares were up near midday deals while European markets closed in the green, a day after...

Expectations of US interest rate cuts weakened the dollar, while oil prices tumbled as weak Chinese demand expectations offset turmoil in the Middle East, according to traders. Gold rose to a record high of $2,500.16 an ounce as investors snapped up the haven investment in the face of an increasingly likely...

Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates in September following comments from Fed Chair Jerome Powell, CNBC reports. Spot gold prices Gold rose 0.5% to $2,482.29 per ounce, hitting an all-time high according to LSEG data. Gold...

London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as oil and gold prices shot up amid worries about the conflict in the Middle East widening. "Geopolitical worries have triggered some risk aversion, but worries about a growth slowdown have...

Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources on Wednesday announced six new mining opportunities for local and international investors. The opportunities are part of the fifth round of mining competitions for exploration licenses and encompass gold, copper, zinc, lead, and silver ores in various regions...

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely be appropriate to cut borrowing costs "at some point this year". Eyes are now on the release of US jobs figures due at the end of the week.

Oil prices rose around one percent, with Brent crude closing in on $90 per barrel, as OPEC experts met to discuss extending supply cuts. "Geo-political risks linked to conflict in the Middle East, OPEC supply cuts and better data out of China are helping to drive bullish sentiment currently," said...

Dubai, UAE -- A total of 2,692 new companies joined Dubai Multi Commodities Centre (DMCC) last year, bringing the total number of companies in DMCC to over 24,000. In its 2023 Annual Report, DMCC said 2023 was its second-best year on record as companies continue to flock to its business...

On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended the day down 1.7 percent, pulled down by firms including Apple and Tesla. Despite the gloomy trading day in New York, US stock indices are still up sharply on the...

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while traders awaited remarks from several Federal Reserve officials. According to Reuters, spot gold edged 0.2 percent higher to $2,047.29 per ounce, as of 0635 GMT, after hitting $2050.59 on Thursday...

The company's fourth-quarter net profit declined 12% YoY.

ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce within the next 12 to 18 months, subject to three potential catalysts, CNBC reported, citing Citi analysts. Aakash Doshi, Citi’s North America head of commodities research, told CNBC that gold...

Dubai, UAE - Gold prices extended losses on Wednesday as the US dollar strengthened after comments from a Federal Reserve official dampened expectations for a March interest rate cut, Reuters reported. Spot gold was down 0.2% at $2,023.49 per ounce, as of 0415 GMT, after stooping 1.3% in the previous...

Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently stands at $1.3 trillion, with a target to increase it to $1.5 trillion.Speaking at the third annual Future Minerals Forum (FMF) held in Riyadh on January 10-11, Al-Rumayyan said the...

Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a significant milestone in their exploration efforts. Initiated in 2022, the company's exploration program led to discovery of a promising gold resource potential spanning across a 100-kilometer stretch from the existing...

Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the Federal Reserve will cut interest rates in the new year. The precious metal struck $2,135.39 in early Asian trade, topping the previous all-time high set in 2020, during the pandemic....

Dubai, UAE - Gold prices surged over 3% on Friday, heading for their most robust weekly performance in seven months, as escalating tensions in the Middle East prompted investors to seek refuge in safe-haven assets, Reuters reported on Friday. The price of spot gold increased by 3.2% to reach $1,928.15...

Tehran, Iran - Iran's in-situ and proven mineral reserves are now worth more than $15 billion,  the director general of Iran's Department of Exploration Affairs announced on Tuesday.   The reserves, according to Ebrahim Ali Molabeigi, encompass six different minerals comprising iron ore, lead and zinc, gold, copper, antimony, and coal....

Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees for its Shariah Compliant Spot Gold Contract as it expects the move to increase trading volumes. In a statement, DGCX said after having received regulatory approval from the UAE Securities...

Doha, Qatar -  The international reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged last July to reach QR 241.572 billion ($66.26 billion), marking a 14.13 percent increase compared to QR 211.325 billion ($58.17 billion) in the same month the previous year. The data released on Monday by...

BUENOS AIRES, ARGENTINA- The Argentine government said it will use a loan from Qatar amounting to $775 million to make a payment to the International Monetary Fund as it awaits approval of a disbursement from the IMF for $7.5 billion. The credit operation would allow Qatar to lend Argentina Special Drawing...

Doha, Qatar -- International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion ($66.11 billion) in June, an increase of 14 percent, compared to QR 211.176 billion last year, Qatar News Agency (QNA) reported. The figures issued Thursday by QCB showed an increase...

Doha, Qatar-- In order to remove obstacles facing the gold and jewellery sector in the country, Qatar Chamber has reviewed the results of a survey conducted by the chamber's Gold and Jewellery Committee last month. Qatar Chamber board member and Chairperson of the Gold and Jewellery Committee Naser bin Suleiman...

Abu Dhabi, UAE-- The UAE and Turkey economic ties have witnessed a great leap in the last decade with non-oil intra-trade between the two countries crossing $103 billion, divided into $56 billion in imports, about $35 billion in exports, and more than $13 billion in re-exports, according to Federal Competitiveness...

ABU DHABI, UAE -  UAE Ministry of Economy organized two workshops, in Arabic and English, to promote the awareness of suspicious transactions among traders and business owners in the gold and precious stones sector. The workshops, through the Department of Anti-Money Laundering, also made the traders and business owners aware...

SHARJAH, UAE- The fourth edition of Jewels of Emirates Show at the Expo Center Sharjah has so far seen record footfall as it runs into its third consecutive day. The event received an overwhelming response from visitors, with exhibitors unveiling a stunning array of exclusive and rare jewelry pieces. It...

SHARJAH, UAE - The fourth edition of the Jewels of Emirates Show, the first Emirati exhibition dedicated to diamond jewelry, gold, silver, pearls, luxury watches, and perfumes commenced here on Thursday. The Expo Center Sharjah with the support of the Sharjah Chamber of Commerce and Industry (SCCI) is hosting the...

Sharjah, UAE - The upcoming fourth edition of the Jewels of Emirates Show, the UAE’s first of its kind showcasing diamond jewelry, gold, silver, and luxury watches, is set to become the largest in the event's history. Sharjah Expo Centre has organized the event scheduled to run from June 1-4,...