president erdoan arrives
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President Erdoğan arrives in Saudi Arabia for tri…

ByJustpaste.in

President of Türkiye Recep Tayyip Erdoğan has arrived in Saudi Arabia to participate in the high-level trilateral summit.

President Erdoğan received a warm welcome upon his arrival at Jeddah Airport, with ceremonial scenes reflecting the significance of the visit.

The summit is expected to focus on strengthening regional cooperation, enhancing diplomatic engagement, and advancing shared strategic interests amid evolving geopolitical developments in the Middle East.

Earlier, Prime Minister Muhammad Shehbaz Sharif was received by Saudi Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz Al Saud at Al-Safa Palace in Makkah on Friday, where the two leaders commenced high-level bilateral talks aimed at further strengthening Pakistan-Saudi Arabia strategic ties.

The Prime Minister is accompanied by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Field Marshal Syed Asim Munir, Chief of Army Staff and Chief of Defence Forces, and Defence Minister Khawaja Muhammad Asif.

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    Gold prices extended their upward momentum on Tuesday, climbing for a third consecutive session as investors turned their attention to key US inflation figures that could influence expectations for the Federal Reserve’s next interest-rate decision. The precious metal continued to attract buying interest amid renewed safe-haven demand and growing expectations that US monetary policy could become less restrictive if economic data point to a cooling economy. Spot gold gained around 1% to reach $4,432.74 per ounce by 0217 GMT, its highest level since June 5. US gold futures also advanced, rising 1.7% to $4,492.60 per ounce. Market analysts said several factors were contributing to the latest rally, including investors who had stayed on the sidelines during gold’s earlier decline and are now returning to the market as prices recover. IG market analyst Tony Sycamore said the move was partly being driven by a fear of missing out among investors who had failed to take advantage of the previous decline toward the $4,000 level. He also pointed to short-covering by speculative traders and renewed demand for gold as a safe-haven asset. Sycamore added that gold could have further room to advance over the medium term, potentially opening the way for a stronger recovery toward the $5,000-per-ounce mark. US inflation data in focus Investors are now closely watching the latest US inflation figures, with the consumer price index (CPI) scheduled for release on Wednesday and producer price data due on Thursday. The reports are expected to provide important clues about the future direction of US interest rates. Markets have already reduced expectations for further monetary tightening following weaker-than-expected US employment data released last week. The latest jobs figures raised concerns about the strength of the US economy and encouraged traders to reassess expectations for the Federal Reserve’s policy path. At its July meeting, the Federal Reserve left interest rates unchanged, although three policymakers dissented and supported an increase. The split among officials highlighted uncertainty over the appropriate direction of monetary policy as the central bank continues to balance inflation risks against signs of economic weakness. Gold generally benefits from a lower-interest-rate environment because the metal does not provide interest or other regular income. When bond yields and interest rates decline, the opportunity cost of holding non-yielding bullion becomes less significant, potentially increasing its appeal among investors. Fawad Razaqzada said that if incoming economic data continue to indicate a slowing US economy without a significant acceleration in inflation, financial markets could further reduce expectations for tighter monetary policy. Such a development could weigh on the US dollar while creating a more supportive environment for gold, he said. Geopolitical tensions add to safe-haven demand Geopolitical developments also remained an important factor in precious-metals markets. US President Donald Trump responded to Iran’s conditions for a potential peace agreement with demands of his own, including calls for compensation over people killed during wars, attacks and protests. The exchange has added uncertainty to diplomatic efforts aimed at resolving the conflict and reopening the Strait of Hormuz, a strategically important waterway for global energy shipments. Any prolonged disruption or renewed tensions around the Strait could increase concerns over global energy supplies and economic stability. Such uncertainty often encourages investors to seek traditional safe-haven assets, including gold. Analysts are therefore watching both economic indicators and geopolitical developments for signs that could influence bullion prices in the coming sessions. Other precious metals also gain Gold was not the only precious metal to advance during Tuesday’s trading. Spot silver increased by 0.9% to $66.30 per ounce, maintaining its recent strength. Platinum also moved higher, gaining 0.7% to $1,765.26 per ounce. Meanwhile, palladium rose 0.8% to $1,394.00 per ounce. With US inflation figures due later in the week, traders are expected to remain cautious while assessing whether the latest economic data will reinforce expectations for a shift toward easier monetary policy. For gold, a combination of softer US economic indicators, a potentially weaker dollar, lower interest-rate expectations and continued geopolitical uncertainty could provide additional support to prices in the near term.

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