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Gulf Today Report
Gold advanced by 1% on Tuesday as the prospects of a large stimulus package to help the economy remains high.
Spot gold increased by 1.1% to $1,881.39 per ounce by 06:05 GMT. US gold futures rose 1.3% at $1,878.70.
Prices decreased by 5.2% on Monday following US drugmaker Pfizer Inc experimental COVID-19 vaccine being more than 90% effective.
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Lachlan Shaw, head of commodity research at National Australia Bank said inflation due to increment in economic activity from the vaccine will boost gold.
Gold will most likely gain from stimulus as it is a shield against inflation and currency debasement.
Silver rose 0.2% to $24.12 an ounce. Platinum gained 0.2% to $868.45 and palladium was 0.3% higher at $2,484.67.
Spot gold was down 0.3% at $1,734.31 per ounce by 03:45 GMT while US gold futures were also down 0.3% at $1,733.70 per ounce.
Spot gold was steady at $1,711.61 per ounce by 02:57 GMT while US gold futures dipped 0.3% to $1,710.20.
Spot gold rose 0.4% to $1,707.81 per ounce by 05:23 GMT while US gold futures climbed 0.4% to $1,704.90.
Spot gold was up 1% at $1,750.24 per ounce by 05:44 GMT, after rising as much as 1.1% earlier in the session while US gold futures rose 1.1% to $1,748.50.
The World Expos like Expo 2020 Dubai, have provided a platform to showcase or announce the greatest innovations that have shaped the world we live in today. The Expo 2020 continues the tradition as a number of latest technologies on display at various pavilions.
The Ministry of Culture and Youth unveiled its strategic agenda and announced a series of international conferences for Expo 2020 Dubai, which opened its doors to visitors on October 1, 2021. The Ministry’s programme aims to showcase the richness and diversity of the UAE’s cultural landscape,
Another breakthrough was sealed between the UAE and Israel on Wednesday morning with the signing of a Memorandum of Understanding (MoU) on space exploration. Details of the MoU, signed at the Leadership Pavilion within the Expo 2020 Dubai, by UAE Minister of State for
Economic progression happens where businesses are making massive transactions to further trade of good ad services. Kashif Ansari, CEO Juwai IQI speaking to Gulf Today exclusively from Kuala Lumpur shared his thoughts that with global economy opening, investors and travellers.