Gold prices rose on Thursday across Saudi Arabia, Egypt, the United Arab Emirates, Qatar and Kuwait, driven by a weakening dollar and declining U.S. Treasury yields.
Gold prices rose across five Middle Eastern countries on Thursday as the metal gained on global markets, supported by a decline in the U.S. dollar and falling Treasury yields. The increases were recorded in Saudi Arabia, Egypt, the United Arab Emirates, Qatar and Kuwait.
The rally came as markets awaited release of the U.S. jobs report, a key economic indicator that typically influences gold demand. The date of the report was September 5, 2024.
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