Connect with us

Business

Gold bolts past $3,200 on dollar slide, safe-haven flows

Published

on

Gold prices breached the key $3,200/oz level for the first time on Friday, fuelled by a weaker dollar and an escalating trade war that sent investors rushing toward safe-haven assets.

Spot gold was up 1.4% at $3,217.78 an ounce as of 0350 GMT. Bullion scaled an all-time peak of $3,219.84 earlier in the session, and has gained almost 6% this week, Reuters reported.

U.S. gold futures climbed 1.9% to $3,237.50.

“The rapid weakening of the U.S. dollar seems to be the main driver of gold’s rebound at the moment. That seems to reflect an ongoing exodus from USD-based assets, with stocks and bonds’ selloff amid tariff policy uncertainty,” said Ilya Spivak, head of global macro at Tastylive.

The dollar was down nearly 1% against its major peers, making greenback-priced bullion cheaper for overseas buyers.

Major stock indexes also fell after U.S. President Donald Trump ratcheted up tariffs on Chinese imports to 145%, but hit a 90-day pause on previously announced tariffs for dozens of countries.

China has been matching Trump’s tariff hikes, sparking fears that Beijing could push duties on the U.S. beyond the current 84%.

“$3,500 is the next round number people will be looking at. I suspect we won’t get there immediately or without bumps along the way,” Capital.com’s financial market analyst Kyle Rodda said.

Apart from tariffs, central bank demand, expectations of interest rate cuts by the Federal Reserve, geopolitical instability in the Middle East and Europe, and increased flows into gold-backed exchange-traded funds also fuelled the metal’s rally this year.

U.S. consumer prices fell unexpectedly in March but inflation risks are tilted to the upside, data showed.

Traders now bet that the Fed will resume cutting rates in June and probably reduce by a full percentage point by the end of 2025.

Spot silver added 0.3% to $31.29 an ounce, while platinum dipped 0.1% to $936.85. Palladium gained 0.8% to $916.18.

Business

Afghani strengthens nearly 10% against US dollar amid banking sector reforms

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

Published

on

Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.

Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.

Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.

Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.

They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.

Continue Reading

Business

Uzbekistan delivers over 290 tons of aid to Afghanistan

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

Published

on

Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.

Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.

Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.

The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.

Continue Reading

Business

Turkmenistan, Afghanistan discuss steps to speed up land acquisition for TAPI pipeline

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

Published

on

Officials from Turkmenistan and Afghanistan have held talks aimed at accelerating land acquisition for the long-planned Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, according to Afghanistan’s Ministry of Agriculture, Irrigation, and Livestock.

The issue was discussed during a meeting between TAPI project head Murad Amanov, Afghanistan’s acting Minister of Agriculture, Irrigation, and Livestock Mullah Attaullah Omari, and Turkmenistan’s ambassador to Afghanistan Hoja Ovezov.

Amanov briefed Afghan officials on recent progress and emphasized the need to accelerate procedures related to land acquisition and the determination of land prices in line with the framework agreement signed by the four participating countries.

Meanwhile, vessels operated by the Azerbaijan Caspian Shipping Company (ASCO), part of AZCON Holding, have begun transporting pipes for the project. The shipments are being carried from the Port of Baku to the Turkmenbashi International Seaport.

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!