The quarterly gold demand (including OTC) soared to hit 1,313 tonne ($146 billion in value terms) mainly driven by a powerful combination of an uncertain and volatile geopolitical environment, according to a report by World Gold Council.
Gold and silver prices tumbled on Friday as investors around the world took profits after a historic rally that sent precious metals to record highs, a retreat accelerated by a rebound in the US dollar and shifting expectations around American monetary policy.
Precious metals kick-started the New Year on a strong note resuming their rally after unprecedented gains in 2025. Spot gold climbed 1.3% to $4,372 per ounce on Friday, while spot silver added 2.8% to hit $73.30 per ounce after hitting a record high last year.
Ithra Dubai has officially launched Dubai Gold District, a purpose-built destination designed to elevate Dubai’s position as the world’s leading destination for gold and jewellery trade.
Saudi Arabia has announced the names of 24 companies that have won licences in the ninth exploration licensing round, the largest in its history to date. The winning entities were awarded 172 mining sites across three mineralised belts in Riyadh, Madinah and Qassim regions.
