Dear followers everywhere, welcome to a new global tour of the financial, business, companies, and energy markets around the world, and everything new for today, Monday, December 9, 2024.. coming to you from Banker.
Starting with the global gold markets, which rose on Monday, as investors awaited the release of US inflation data this week in search of clues about the direction of the Federal Reserve’s monetary policy.
The spot gold price rose by 0.11 percent to reach $2,635.82 per ounce, after reaching $2,647.99 earlier in the session.
Gold futures in the United States also settled at $2,658.10 per ounce.
From the gold markets to oil, oil prices rose on Monday, as rising tensions in the Middle East overshadowed concerns about weak demand, especially from China.
In this context, Saudi Aramco, the largest oil exporter in the world, announced the reduction of the official selling price of its Arab Light crude oil to buyers in Asia for the month of January 2025 to the lowest level since early 2021, as the price was reduced by 80 cents to become an increase of $0.90 per barrel above the average. Amman/Dubai.
By 04:06 GMT, Brent crude futures were up 26 cents, at $71.38 per barrel.
The next news in our global tour about the dollar, which witnessed a state of fluctuation as investors awaited US inflation data this week, while the Australian and New Zealand dollars rose following China’s announcement of changes in its monetary policy.
While the euro maintained its stability in volatile trading against the US currency.
While markets almost certainly expect the Federal Reserve to cut interest rates by a quarter point next week, investors are awaiting US consumer price data scheduled for release on Wednesday.
Among the corporate news on our global tour is Apple’s announcement of its plans to expand in Saudi Arabia, starting with the launch of the “Apple Store” online store in the summer of 2025.
The company revealed that starting in 2026, it will begin opening its first stores in the Kingdom, as a first step, followed by the opening of a number of other stores.
Apple CEO Tim Cook also revealed the company’s plans to open a store in the Diriyah area.
The last news in our round is from the World Bank, which announced a record financing package of $100 billion, to replenish the resources of the International Development Association (IDA), representing a crucial step in supporting global development efforts.
This financing aims to help low-income countries address increasing development challenges, including recovering from the COVID-19 pandemic, adapting to climate change, and promoting inclusive economic growth.
