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Brent oil futures expiring in July had risen by 0.5 percent to reach $83.73 per barrel
Brent crude futures rose by 28 cents, or 0.3 percent, reaching $83.24 per barrel
Diminishing geopolitical concerns and a reevaluation of interest rate expectations impact bullion
OPEC+ is likely to extend its voluntary oil output cuts of 2.2 million barrels per day beyond June
Surprise increase in U.S. crude inventories and prospects of a ceasefire in the Middle East add downward pressure on prices
U.S. crude production escalates to 13.15 million barrels per day in February
Gold lost 2.2 percent last week amidst easing tensions in the Middle East
Market expectations for any rate cuts have been pushed out, which could boost the U.S. dollar and potentially dampen oil demand and prices
Despite the increase, gold prices were down around 2.3 percent, their biggest weekly drop since early December
According to experts, the Kingdom is the region's fastest-growing IT market
Gold could remain between $2,300 and $2,350 unless a fresh catalyst emerges
Gold dipped more than 2 percent in the previous session, its largest intraday decline in over a year
Bullion loses safe-haven appeal amidst reduced geopolitical risks
Market analysts referred to gold as a geopolitical trade rather than a monetary policy trade at the moment
Brent futures rose by $2.63, reaching $89.74 per barrel
Venezuela's oil exports had grown 12 percent in 2023 to 700,000 bpd after the easing of some U.S. sanctions
Strong dollar and rising treasury yields impact gold's appeal
Brent oil futures fell 0.1 percent to $89.89 per barrel
Central bank buying and geopolitical tensions drive gold's rally near record-high
Businesses need to be agile, adapt their strategies and invest in digital infrastructure
Gold prices increased to an all-time high of $2,431.29 on Friday, gaining over 14 percent this year
Gold prices remained undeterred despite the robust U.S. job growth in March
Investors await consumer price index data from U.S. and China later this week
The rise in prices is fueled by geopolitical tension and supply concerns
