International News
Gold price struggles to capitalize on intraday gains amid receding Fed rate cut bets
Concerns about Trump’s trade tariff and a modest USD weakness underpin the XAU/USD pair.
Gold price (XAU/USD) builds on the previous day’s bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains some follow-through positive traction for the second straight day on Thursday. A fresh leg down in the US Treasury bond yields exerts downward pressure on the US Dollar (USD), which, in turn, is seen benefiting the USD-denominated commodity. Apart from this, worries about US President Donald Trump’s tariffs and a global trade war underpin the safe-haven bullion.
Meanwhile, the hotter US consumer inflation figures released on Wednesday reaffirmed market expectations that the Federal Reserve (Fed) will stick to its hawkish stance and hold interest rates steady for an extended period. This could act as a tailwind for the US bond yields and the Greenback, which, in turn, acts as a headwind for the non-yielding Gold price amid still-overbought conditions on the daily chart. Traders now look forward to the release of the US Producer Price Index (PPI) for some meaningful impetus.
International News
Kerala Jewellers Account For Approximately 20% Of The Total Gold Trade In UAE:K. Surendran
State President of KGSMA Highlighted The Strong Presence and Growing Economic Impact Of Kerala’s Retail Gold Sector In The Region.
Kerala jewellers account for approximately 20% of the total gold trade in the United Arab Emirates, according to K. Surendran, State President of the Kerala Gold and Silver Merchants Association (KGSMA).
Speaking at the General Body Meeting of the Dubai Kerala Jewellery Association held at the Novotel Hotel in the Dubai Gold District, Surendran highlighted the strong presence and growing economic impact of Kerala’s retail gold sector in the region.
The meeting was presided over by Association President Muneer Thangals, with KGSMA State General Secretary Adv. S. Abdul Nazar delivering the keynote address.
Key discussions during the session focused on:
Business Opportunities: Capitalizing on emerging trends within the UAE gold and jewellery retail landscape.
Industry Challenges: Addressing operational and trade issues faced by Kerala-origin jewellers in Dubai.
Member Welfare: Strengthening support networks and welfare initiatives for trade community members.
The event featured addresses from prominent industry leaders, including Dubai Kerala Jewellers Association General Secretary Mujeeb Rahman Tajvi, Treasurer Shuhaib Zia, KGSMA State Vice President Faisal Amin, Legal Advisor Adv. Abraham P. John, alongside Shameer A.G.D., C.K. Nasi, and Rafeeq Maharaja.
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