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
Dubai Records Highest-Ever Diamond Trade In 2025
Natural Diamonds Continued To Dominate The Market, Contributing US$39.9 billion, Or 96% Of Dubai’s Total Diamond Trade Value In 2025.
Dubai achieved a record performance in its diamond trade in 2025, reaching its highest-ever levels in both value and volume, according to the Dubai Multi Commodities Centre (DMCC).
The total value of diamond imports and exports increased 16% year-on-year to US$41.7 billion, up from US$35.8 billion in 2024. Trade volume also surged 43% to 359.5 million carats, marking the first time Dubai has recorded all-time highs in both value and physical volume.
DMCC CEO Ahmed Bin Sulayem said the strong performance reflects Dubai’s long-term strategy of building a transparent, connected, and efficient global hub for the diamond trade. Since 2020, diamond trade through Dubai has doubled in volume and grown nearly 140% in value.
Natural diamonds continued to dominate the market, contributing US$39.9 billion, or 96% of Dubai’s total diamond trade value in 2025.
Trade in rough diamonds reached 205.2 million carats, the second-highest volume on record and around 34% higher than in 2024. The value of natural polished diamond trade rose nearly 25% to US$18.7 billion. Since 2020, the value of natural polished diamond trade through Dubai has increased by 246%.
Over the past decade, Dubai’s overall diamond trade has grown 63% in value and 44% in volume, reinforcing its position as one of the world’s leading diamond trading centres.
The emirate also recorded strong growth in other precious stones. Coloured gemstone trade climbed 48% to a record US$1.1 billion, supported by a 69% increase in imports and a 34% rise in exports. Meanwhile, synthetic and industrial diamonds accounted for around 39% of the total diamond trade volume in 2025.
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