Source: MENA FN
Security & Justice
With Destruction at Lebanon Border, Israel Could Seek Buffer Zone
Israel appears to be trying to create a buffer zone in south Lebanon to remove the threat from Hezbollah but its effectiveness in preventing cross-border attacks remains to be seen, observers say.
Saturday, November 23, 2024
Israeli Army Reaches Outskirts of Litani River in Southern Lebanon
Israeli forces have launched their largest ground incursion into southern Lebanon since the conflict began, reaching the outskirts of the Litani River near Deirmimas.
Saturday, November 23, 2024
Opinion
Lebanon's Economy—Not Battlefield—May Have the Final Word
Time and again during this most recent war in Lebanon, we hear the phrase, “The battlefield has the final word”. It has become the sole and wholly unsatisfactory refrain of Hezbollah and the so-called 'Axis of Resistance'.
Wednesday, November 20, 2024
Flying Above the Bombs, a Lebanese Airline Becomes an Unlikely National Hero
It used to be like almost any other national carrier, fielding gripes about flight delays, ticket prices and bad food.
Wednesday, November 20, 2024
Sports
Israel Face France in Paris Football Match Under Tight Security
Israel face France in a Nations League football match in Paris on Thursday surrounded by a huge security operation to prevent a repetition of the attacks on Israeli fans in Amsterdam last week.
Thursday, November 14, 2024
Alcaraz Beats Rublev to Open ATP Finals Account
Carlos Alcaraz opened his account at the ATP Finals on Wednesday with an entertaining 6-3, 7-6 (10/8) win over Andrey Rublev which boosted his hopes of reaching the semifinals.
Wednesday, November 13, 2024
Wednesday 6 March 2024 12:45:46
Gold Prices Decrease, Remain above USD2,100 Per Ounce
On Wednesday, gold prices underwent a slight decrease while managing to maintain a position above the significant threshold of USD2,100 per ounce. This dip followed a surge in speculation around a potential cut in US interest rates anticipated for June, propelling the precious metal to achieve record highs in the preceding session. The market awaited the testimony of Jerome Powell, Chairperson of the Federal Reserve, to gauge insights into the central bank's monetary policies.
Spot transactions indicated a marginal decline of 0.2 percent, settling at USD2,124.46 per ounce by 0229 GMT, while gold futures in the US experienced a 0.4 percent decrease to USD2,132.90. The previous night witnessed spot transactions soaring to an all-time high of USD2,141.59 per ounce, marking the fifth consecutive session of upward momentum.
Amidst economic indicators, the growth in the US services sector exhibited a slight deceleration in February, accompanied by a downturn in employment. Additionally, new orders for manufactured goods in the US saw a more substantial decline than anticipated in January. Concurrently, the yield on the ten-year US Treasury bonds hovered around its lowest point in a month, contributing to heightened demand for non-yielding assets like gold.
Traders' sentiments, as indicated by LSEG's interest rate forecast tool, suggest a growing probability of a 71 percent chance of a US interest rate cut in June, up from 65 percent the previous day. Such a move towards lower interest rates typically amplifies the demand for gold, given its status as a non-yielding asset.
Investor attention remained focused on the commencement of Powell's semi-annual testimony before Congress, aimed at providing insights into the current state and future trajectory of the US economy.
In the realm of other precious metals, platinum experienced a modest decline of 0.1 percent, reaching USD879.46 per ounce, while palladium dipped by 0.2 percent to USD946.51. The price of silver also saw a decrease of 0.4 percent, settling at USD23.59 per ounce.
