International News
Gold prices fluctuate amidst escalating Middle East tensions and hawkish US Fed stance
Gold prices are attempting a recovery from weekly lows near $3,360 today, as renewed geopolitical concerns in the Middle East counterbalance a hawkish signal from the US Federal Reserve.
The yellow metal found fresh buyers near $3,363 early Thursday following reports that the United States is considering military action against Iran as early as this weekend, with potential strikes on Iran’s Fordow nuclear facility. This development has significantly heightened risk aversion in Asian trading, boosting gold’s traditional safe-haven appeal. Iran’s Supreme Leader Ayatollah Ali Khamenei had issued a stern warning yesterday, stating that any US military involvement would result in “irreparable damage.”
However, gold’s upward movement is being tempered by a resurgent US Dollar, which is also benefiting from safe-haven demand. The Greenback gained strength after the Federal Reserve maintained its policy rates (4.25%-4.5%) and kept projections for two interest rate cuts this year. Yet, the Fed’s decision was perceived as “hawkish” by markets due to trimmed expectations for cuts in 2026 and 2027, along with an upgraded inflation outlook amidst persistent trade and geopolitical uncertainties.
Consequently, gold price breached a key support level at $3,377 on Wednesday after the Fed’s announcement. Looking ahead, the Juneteenth holiday in the US could lead to thin trading conditions, potentially exaggerating gold price movements. Traders will be closely monitoring developments in the Middle East for further direction
International News
DMCC Launches ‘DMCC FinX’ To bridge institutional capital, trade and technology
DMCC – the leading international business district that drives the flow of global trade through Dubai – officially launched DMCC FinX today during the 13th Dubai Precious Metals Conference (DPMC) at Atlantis The Palm. Bringing together more than 1,000 senior industry figures, the conference convened global leaders from precious metals, finance, policy and technology to examine the forces reshaping the future of the sector.

Held under the theme “The Future of Precious Metals: Tariffs, Tokenisation and Trade Flows,” DPMC 2025 explored the rapid transformation of global commodities markets as geopolitical realignment, emerging technologies and reconfigured trade corridors redefine how value moves worldwide. Discussions centred on the convergence of precious metals, digital assets and finance; the rise of tokenisation; and Dubai’s accelerating role as a centre of trust, transparency and innovation for the global gold and precious metals industry.
Keynote speeches were delivered by H.E. Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, Ruth Crowell, Chief Executive of the London Bullion Market Association (LBMA) and global financial commentator Grant Williams. The conference featured senior representatives from leading exchanges, refineries, bullion banks and regulatory bodies, including the World Gold Council, the Shanghai Gold Exchange, CME Group and the UAE Ministry of Economy. Panel sessions explored the realignment of global trade flows, the harmonisation of international standards, responsible sourcing in artisanal mining and the evolving role of bullion banks in a multipolar economy.

One of the headline announcements of the day was the formal launch of DMCC FinX – a strategic expansion designed to connect capital market participants, trade finance professionals and fintech innovators with DMCC’s rapidly growing community of more than 26,000 companies. Built on DMCC’s established financial and commodities infrastructure – including the Dubai Gold & Commodities Exchange (DGCX), its central counterparty and clearinghouse the Dubai Commodities Clearing Corporation (DCCC), DMCC Crypto Centre, DMCC Tradeflow platform, and key industry partnerships with regulatory players such as the Dubai Virtual Assets Regulatory Authority (VARA) – DMCC FinX will bridge real-world commerce, capital markets and digital assets, reinforcing Dubai’s position as a global hub where finance and trade intersect
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