International News
Gold, silver regain ground after a sharp fall on renewed safe-haven demand
Bullion rebounds as geopolitical risks revive safe-haven buying, even as higher oil prices delay expectations of Federal Reserve rate cuts.
Gold and silver regained ground on Wednesday (March 4) after a sharp fall on Tuesday (March 3), reflecting renewed safe-haven demand amid geopolitical tensions and market volatility.
Gold had retreated sharply overnight as markets moved beyond initial Middle East tensions and shifted focus to Federal Reserve policy repricing. While threats to the Strait of Hormuz lifted crude prices, the inflationary impact of higher energy costs complicated bullion’s outlook. Elevated oil prices challenge the Fed’s disinflation path, prompting traders to push expected rate cuts from June/July toward September.
The threat to the Strait of Hormuz has driven crude prices higher, but the implications for Gold are more complex than a simple risk-off rally. While geopolitical tensions typically support bullion, the resulting spike in energy costs also raises the prospect that global inflation could remain elevated for longer than previously expected.
Higher oil prices act as a direct challenge to the Fed’s disinflation narrative. Energy costs effectively operate as a tax on economic activity while simultaneously pushing headline inflation higher. As a result, traders have begun pushing back expectations for the next Fed rate cut from June or July toward September.
That shift implies a longer period of policy restraint as the Fed waits to assess how persistent the energy shock may prove. If inflation expectations begin to rise again, policymakers are likely to remain cautious, preferring to keep rates higher for longer until the second-round effects of oil prices become clearer.
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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