Gold and oil fall amid rate outlook
The Strait of Hormuz experienced a sharp decline in navigation, with only 12 ships passing through, reflecting escalating tensions and regional crisis that are impacting global shipping. Gold prices in the UAE also increased, with 24-karat gold reaching approximately 527.50 dirhams. Meanwhile, oil and gold prices globally have decreased as investors await interest rate policies. Additionally, Qatar's gas projects have been affected, and some plans have been postponed due to the crisis. Meanwhile, the global economy continues to strive for balance amidst increasing political and economic challenges.
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