A strong rise in gold prices at the end of last week’s trading:
Gold prices witnessed a strong rise during last Friday’s trading,
approaching $2,100 per ounce.
This rise is due to strong demand for the precious metal and the weakness of the US dollar,
in addition to negative economic data that raises fears of a reduction in US interest rates.

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US indices continue to achieve new records

India defends its oil imports from attacks in the Red Sea

A strong rise in gold prices at the end of last week’s trading

US indices continue to achieve new records

This was driven by an improvement in the technology sector’s performance
and a decline in fears that the Federal Reserve will postpone interest rate cuts.
The latest Institute for Supply Management (ISM)
data showed that factory activity contracted more than expected in February.

The US Federal Reserve’s preferred PCE inflation report provided some relief from inflation pressures,
as expectations of interest rate cuts in June rose due to higher-than-expected initial unemployment claims.

NVIDIA shares rose more than 4%,
while Apple lost about 0.6% after being excluded from Goldman Sachs’s list of stocks with opportunities.

The Standard & Poor’s 500 index recorded a weekly rise of 0.97%,
and the Nasdaq index rose by 1.74%, recording their seventh positive week out of the last eight weeks.
However, the Dow Jones Index fell by 0.11%.

India defends its oil imports from attacks in the Red Sea

India’s oil imports depend on the Red Sea navigation channel to a large extent,
as India’s total oil imports are estimated at 88% of total imports,
which puts India under pressure and risks increasing attacks on commercial ships.

With the increase in attacks, Indian naval forces are combing the vicinity
of the navigational course of the Red Sea and the Arabian Sea.
Last week, an Indian naval fighter rushed to rescue the merchant ship (Islands)
and its crew from the danger of Houthi attacks.
The Munich Security Conference strengthened discussions between the US Secretary of State
Anthony Blinken and his Indian counterpart, Subramaniam Jaishankar.
Regarding the tensions in the region, Blinken indicated that the position
of India and the United States regarding the current events reinforces
the common position of the two countries, in light of these geopolitical tensions,
we may witness pressure on oil prices.

A strong rise in gold prices at the end of last week’s trading

Gold prices rose during Friday’s session, approaching $2,100 per ounce.
The increase is due to strong demand for precious metals in addition
to the weakness of the US dollar

as well as negative macroeconomic data that raises fears of a cut in US interest rates.

During Friday’s trading, spot gold contracts rose by 1.90% reaching approximately $2,083.03 per ounce.
On the other hand, gold futures contracts rose by 1.81% and reached about $2,091.85 per ounce.

The US dollar index continued to decline during current trading, falling by approximately 0.23%,
and settled below the level of 104.00 points,
where it is currently trading at 103.92 points.
This decline in the US dollar contributed to strengthening gold prices
due to the inverse relationship between the two parties.

A strong rise in gold prices at the end of last week’s trading

A strong rise in gold prices at the end of last week’s trading

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