LONDON: Gold firmed on Monday, edging back toward last week’s 4-1/2-month peak as the dollar held near its weakest since late February, with investor focus turning to key economic readings from the US this week.
Spot gold was up 0.2 percent at $1,883.25 per ounce, having last week reached its highest since Jan. 8 at $1,889.75. US gold futures gained 0.4 percent to $1,884.30.
Following last week’s volatility, gold has moved above its 200-day moving average, supported by a weaker dollar and bond yields and questions about inflation, said independent analyst Robin Bhar. Gold is considered a hedge against inflation. The dollar was pinned near three-month lows, while US Treasury yields stayed subdued.
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Partisan groups in Lebanon return to language of war in light of deadly stalemate, say politicians
Speaker Nabih Berri, MP Gebran Bassil join denouncement in wake of Hezbollah-backed rallies
Updated 42 min 34 sec ago
NAJIA HOUSSARI
May 24, 2021 21:11
BEIRUT: Lebanese political parties have reacted strongly to a Beirut demonstration on Sunday by the Syrian Social Nationalist Party (SSNP), with the speaker of the Lebanese parliament reiterating the need for a national government on Monday.
Chants by SSNP members were “a return to the language of the civil war,” the parties said.
The demonstration, authorized by the Ministry of Interior, took place in light of a complex and deadly political stalemate.
JEDDAH: The Saudi Tourism Development Fund (STDF) on Monday signed two agreements with the Arab National Bank (ANB) to increase the financing of tourism projects in the Kingdom.
One agreement includes the provision of joint financing mechanisms between the two parties to support tourism projects in the Kingdom. The other deal spells out mechanisms to provide STDF with financial guarantees to provide financing solutions to small and medium enterprises (SMEs) in the tourism sector.
STDF CEO Qusai Al-Fakhri said the agreements will give a boost to the Kingdom’s tourism sector.
He said the initiative will help develop tourism agencies in major cities.
JEDDAH: Twenty-five-year-old student Abdullah Al-Aidroos came up with the idea for “By Zikir” because he wanted to be able to give gifts that represented his religion and tradition but were also unique.
“I believe that this is a better gift to give to your loved ones; instead of things that are widely found in the market,” he told Arab News.
“By Zikir” is a startup that sells Subhah (beads that are used to keep count while saying prayers). These beads are a part of the Islamic tradition and are often carried in a pocket or a bag. In Al-Aidroos’s opinion, gifts are meant to be individual and that was the main driver behind setting up of his business.
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