International News
Gold rally continues;US PCE Price Index data keenly awaited
Gold price extends its record-setting rally toward $3,100 after settling above $3,050 on Thursday. Sitting at record highs, Gold price keenly awaits the US Personal Consumption Expenditures (PCE) Price Index data and US President Donald Trump’s tariff updates for additional trading impetus.
The recent announcement of a 25% tariff on imported cars and light trucks, effective April 3, along with duties on auto parts beginning May 3, has reignited trade war fears. Reciprocal tariffs from key trading partners are expected to follow, creating an environment of uncertainty that further boosts gold’s appeal. Historically, protectionist policies have contributed to financial market instability, leading investors to shift capital into more stable assets such as gold.
Technical indicators suggest that gold prices are nearing the $3,080 resistance level, a crucial threshold for market sentiment. A breakthrough above this level could pave the way for prices to reach $3,100 and beyond. However, the Relative Strength Index (RSI) is currently at 72.50, indicating overbought conditions that may lead to a short-term correction. Key support levels to watch include $3,050 and $3,012, with $3,000 serving as a significant psychological barrier.
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.
Dubai Records Highest-Ever Diamond Trade In 2025
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