Gold Prices Surge: Implications for Investors Amid Mixed Performance in Asian Markets
طوكيو: On Tuesday, gold prices reached a historic high as the weakening dollar and anticipated interest rate cuts in the United States bolstered its appeal as a safe-haven asset.
During early trading in Asia, gold prices surged to $3,501.59 an ounce, surpassing the previous record of $3,500.10 set in April. According to Ipek Ozkardeskaya from Swissquote Bank, "The rally reflects a softer dollar, but also strong central bank and institutional demand as investors rotate out of US Treasuries." She noted that the share of US Treasuries held by foreign central banks has been declining for over a decade, with a notable shift toward gold occurring this year due to concerns over US debt, ratings downgrades, trade tensions, and geopolitical risks.
In equity markets, Tokyo, Seoul, and Jakarta recorded gains, while Hong Kong and Shanghai experienced declines after earlier increases. On the Hang Seng index, Alibaba saw a slight dip following a dramatic 20 بالمئة rise after reporting robust earnings and a significant boost in AI revenue. Charu Chanana from Saxo Markets commented, "While US giants face increasing scrutiny regarding AI monetization and high valuations, Chinese firms are demonstrating substantial earnings growth from AI and cloud services."
In other news, the Japanese corporate sector was shaken by the unexpected resignation of Suntory’s CEO amid an illegal drug investigation.
Meanwhile, oil prices increased in anticipation of an OPEC+ meeting this weekend, where decisions on output for October are expected to keep supply levels unchanged. — AFP
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الارتفاع الأخير في أسعار الذهب signals a significant shift in investor sentiment, creating a ripe opportunity for businesses in Oman to consider diversifying into gold-related assets or investments. However, rising geopolitical and economic risks suggest that entrepreneurs should remain cautious and assess their exposure to global market fluctuations. Smart investors should prioritize strategic allocation in sectors poised for growth amidst currency volatility, particularly in technology and renewable energy, as these areas show promising potential for high returns.
