NiKi Gains Following Rate Increase
Gold prices in the UAE rose slightly due to a decline in oil prices and a weakening dollar, as the drop in the dollar supported gold prices. This coincided with the Nikkei index reaching its highest level in 31 years after interest rate hikes, reflecting monetary policy trends and their impact on the global market. At the same time, oil prices fell, with Brent dropping to $104, amid decreased ship traffic through the Strait of Hormuz and the Bab el-Mandeb. Additionally, other news reports mention the United States planning to sell F-35 fighter jets to Saudi Arabia for over $24 billion, while Belgium is planning to cut its budget by €10 billion in 2029.
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