Solidcore Resources, a leading gold producer in Kazakhstan, has announced that it has entered into an agreement with Minerals Development Oman (MDO) to establish a joint venture to explore and develop the Khabiyat copper-gold project in the sultanate.
Anjali Precious Metals, one of the UAE's renowned family-owned precious metals businesses, has announced the launch of Anjali Digital Metals, a premium mobile platform that marks the company's entry into the digital investment space after more than 23 years of serving customers across the UAE.
The UAE's non-oil foreign trade surged by 13% during the first half to hit nearly AED2 trillion ($527.5 billion), driven by a surge in exports, said a report. The country’s non-oil exports jumped 24% from a year to hit AED452.8 billion ($123.3 billion), accounting for 23.4% of total non-oil trade.
Global markets are set to close the first week of March under the growing influence of geopolitical risk stemming from the Middle East conflict. One of the most visible market responses has been the sharp appreciation of the US Dollar which climbed to a three-month high, said an expert.
Gold prices are currently navigating heightened uncertainty trading at around $4,605 per ounce, caught between opposing forces that make it difficult to establish a clear short-term trend. On the one hand, the macroeconomic backdrop in the US has reinforced expectations of higher interest rates for longer.
Escalating tensions in the Middle East have sent shockwaves through global markets, pushing oil and gold sharply higher and raising questions on near-term outlook for regional equities, said a financial expert. Brent crude surged by 13% to $82 a barrel driven by fears of disruption in Strait of Hormuz.
Metso, a leading provider of end-to-end solutions for the aggregates, minerals processing and metals refining industries, has won a contract to deliver its crushers to Grupo Mexico’s La Caridad copper concentrator plant.
Gold was steady on Wednesday but remained on track for its strongest annual gain in over four decades, while other precious metals fell sharply as investors booked profits after a strong, record-setting rally.
Gold and silver prices logged new record highs today, driven by demand for safe-haven assets and growing expectations of another cut in US interest rates next year. Platinum and palladium prices also saw notable gains, said a report.
Sudan’s state-owned Mineral Resources Company has announced the arrival of 16 mining-waste processors into the country as gold production rebounds, amid concerns over artisanal mining, resource control and environmental damage.
