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![Oil prices rally as U.S. crude inventories surge, Fed maintains interest rate](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Oil-prices-1.jpeg/w=1024,h=683)
Surprise increase in U.S. crude inventories and prospects of a ceasefire in the Middle East add downward pressure on prices
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Investor sentiment remains cautious ahead of the interest rate decision by the U.S. Federal Reserve
![Saudi Arabia gold prices decline, global rates marginally rise ahead of Fed’s policy decision](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Gold-prices.jpeg/w=1024,h=683)
Gold prices have declined more than $140 after reaching a record high of $2,431.29 on April 12
![Oil prices decline for the third day as U.S. crude inventories surge](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/05/Oil-prices.jpeg/w=1024,h=682)
U.S. crude production escalates to 13.15 million barrels per day in February
![Saudi Arabia gold prices dip as global rates decline ahead of U.S. Fed meeting](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-7.jpeg/w=1024,h=683)
Gold lost 2.2 percent last week amidst easing tensions in the Middle East
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Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices
![Saudi Arabia gold prices decline, global rates dip as hope for early rate cuts diminishes](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-6.jpeg/w=1024,h=683)
Gold could capitalize on potential downturns in U.S. macroeconomic data in the coming quarters
![Saudi Arabia gold prices rise as global rates increase ahead of key U.S. inflation data](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-5.jpeg/w=1024,h=683)
Despite the increase, gold prices were down around 2.3 percent, their biggest weekly drop since early December
![Saudi Arabia gold prices decline, global rates recover as markets await key U.S. economic data](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-4.jpeg/w=1024,h=683)
Gold could remain between $2,300 and $2,350 unless a fresh catalyst emerges
![Saudi Arabia gold prices decline as global rates hit over two-week lows on easing Middle East tensions](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-3.jpeg/w=1024,h=683)
Gold dipped more than 2 percent in the previous session, its largest intraday decline in over a year
![Saudi Arabia gold prices decline as Middle East tensions ease, global rates drop](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-10.jpg/w=1024,h=683)
Bullion loses safe-haven appeal amidst reduced geopolitical risks
![Saudi Arabia gold prices fall as global rates inch closer to all-time high on escalating geopolitical tensions](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-2.jpeg/w=1024,h=683)
Market analysts referred to gold as a geopolitical trade rather than a monetary policy trade at the moment
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Brent futures rose by $2.63, reaching $89.74 per barrel
![Saudi Arabia gold prices rise as geopolitical uncertainty boosts bullion’s global appeal](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-9.jpg/w=1024,h=683)
Gold maintains safe-haven appeal despite Federal Reserve's stance on rates
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Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
![Global gold prices down as Middle East geopolitical tensions persist, Saudi Arabia rates dip](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-1.jpeg/w=1024,h=683)
Strong dollar and rising treasury yields impact gold's appeal
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Brent oil futures fell 0.1 percent to $89.89 per barrel
![Saudi Arabia gold prices surge as global rates rise on Middle East tensions](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-8.jpg/w=1024,h=683)
Central bank buying and geopolitical tensions drive gold's rally near record-high
![Saudi Arabia gold rate surges amid rising Middle East tensions as global prices ease after hitting new high](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-7.jpg/w=1024,h=683)
Gold prices increased to an all-time high of $2,431.29 on Friday, gaining over 14 percent this year
![Saudi Arabia gold prices rally after global rates hit record highs yesterday](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices-6.jpg/w=1024,h=683)
Investors eye Federal Reserve meeting minutes and inflation figures for market direction
![Global gold prices continue record surge to $2,353.79, Saudi Arabia rates climb](https://economysaudiarabia.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economysaudiarabia.com/2024/04/Gold-prices.jpeg/w=1024,h=683)
Gold prices remained undeterred despite the robust U.S. job growth in March
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Investors await consumer price index data from U.S. and China later this week
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The rise in prices is fueled by geopolitical tension and supply concerns
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The asset management industry reached $1.1 billion by end of 2023