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Gold prices fell more than 7% on Friday, falling below the $5,000 milestone as the dollar strengthened with the impending appointment of a new Federal Reserve chairman, but the safe-haven gold is still on course for its biggest monthly gain since 1999 after hitting multiple record highs. Other precious metals also fell sharply due to profit-taking. Spot gold fell 7.5% to $4,992.05 an ounce by 0947 GMT. US gold futures for February delivery fell 6.4% to $4,985. Gold hit a record high of $5,594.82 on Thursday and is still up more than 15% this month, heading for its sixth straight…

The Saudi Ministry of Foreign Affairs announced that the Kingdom of Saudi Arabia welcomes the statement issued by the Syrian government regarding the ceasefire agreement between the Syrian government and the Syrian Democratic Forces (SDF), based on a comprehensive agreement that includes integration into the Syrian government and Syrian state institutions. The ministry said in a statement released on Friday that Saudi Arabia expects this comprehensive agreement to support Syria’s path to peace, security and stability, and contribute to realizing the aspirations of the brotherly Syrian people and strengthening national unity, SPA reported. Saudi Arabia also reiterated its full support…

The Turkish President’s Office announced that President Recep Erdoğan spoke by phone today (Friday) with his Iranian counterpart Masoud Pezeshkian and informed him that Turkey is ready to act as a mediator between Tehran and the United States in order to reduce tensions and resolve issues between the two countries, while Iranian Foreign Minister Abbas Araqchi, who is visiting Ankara, confirmed that his country would not negotiate on defense capabilities.A climate of mutual trustTehran’s state television reported that President Pezeshikian assured Erdogan that “the fundamental condition for the success of any diplomatic endeavor is the demonstration of good faith and…

Gold prices fell more than 8% on Friday, falling below the $5,000 milestone as the dollar strengthened with the impending appointment of a new Federal Reserve chairman, but the safe-haven gold is on course for its biggest monthly gain since 1982 after hitting multiple record highs. Other precious metals also fell sharply due to profit-taking. Spot gold fell as low as $4,957.54 early in the session, but was down 5% to $5,124.37 an ounce by 11:32 a.m. Japan time. US gold futures for February delivery fell 3.9% to $5,118.40. Gold hit a record high of $5,594.82 on Thursday and is…

TOKYO/LONDON – The dollar rose on Friday, recouping some of this week’s losses after U.S. President Donald Trump said he would soon announce his nominee for head of the Federal Reserve, with reports saying Kevin Warsh was the frontrunner. The euro recently fell 0.3% to $1.1932, the pound fell 0.4% to $1.3765, and the dollar rose 0.5% against the yen to 153.88 yen. As a result of the above, the dollar index rose 0.37% to 96.48 against the six same currencies. President Trump said Friday that he plans to name candidates to replace Federal Reserve Chairman Jerome Powell. Bloomberg News…

WASHINGTON — U.S. President Donald Trump said it would be “very dangerous” for Britain to deal with China after Prime Minister Keir Starmer arrived in Shanghai on the third day of his visit to the country.The US president was reacting to an agreement between the UK and China aimed at increasing business and investment, announced after Mr Starmer met with Chinese President Xi Jinping.On Thursday, at the premiere of a documentary about first lady Melania Trump, Trump called Xi a “friend” and said he “knows” the Chinese president “very well.”Starmer’s visit to China is the first by a British prime…

The unusual combination of rising fuel demand and expanding refining capacity is drawing global commodity traders to India, with companies such as Trafigura seeking long-term partnerships with national oil companies. With consumption growth slowing in most major economies, trading executives said at the India Energy Week conference that they see opportunities across crude oil, refined fuels and liquefied natural gas (LNG). “We think there is a huge opportunity in India,” Trafigura India CEO Sachin Gupta said, pointing to strong demand for diesel, gasoline and liquefied petroleum gas, adding that India would buy “significant quantities” of liquefied natural gas. Mr. Gupta…

OPEC+ is likely to continue suspending oil production increases in March at its meeting on Sunday, five participants told Reuters at its meeting on Sunday, even as oil prices have soared above $70 a barrel on concerns that the United States could launch a military attack on OPEC member Iran. The meeting of eight OPEC+ members, which pump about half of the world’s oil, took place as Brent crude rose to nearly $72 a barrel, its highest since August, despite speculation that a glut would push prices down. Eight countries – Saudi Arabia, Russia, the United Arab Emirates, Kazakhstan, Kuwait,…

Saudi Arabia emphasizes institutional and geographical integrity of Gaza and West Bank Saudi Arabia emphasizes the need to implement UN Security Council Resolution 2803 (To End the Gaza Conflict) as the main legal and political framework, particularly with regard to the work of the Peace Council, the withdrawal of Israeli forces, the end of the occupation, and the creation of conditions conducive to political progress. Dr. Manal Radwan, Minister of Foreign Affairs and Plenipotentiary of Saudi Arabia, said that increased diplomatic efforts, dialogue and concerted action are needed at this stage to keep the peace process in line with the…

ANKARA – Iranian Foreign Minister Abbas Araghchi has arrived in Turki for high-level talks, intensifying diplomatic efforts to avert military conflict between the United States and Iran. According to Iran’s Mehr news agency, upon arriving in Istanbul on Friday, Aragushi said Iran and Turkey needed “close consultations” in light of what he described as serious developments in the region, especially in light of the goals and positions presented by the United States.Araghchi said the visit had been planned for several months and would focus on reviewing bilateral relations and regional and international issues.Mehr said Araghçi will meet with Turkey’s Hakan…