Sana'a: Gold prices rose on Wednesday, supported by a drop in oil prices following the decision to extend the ceasefire with Iran. This helped ease concerns about rising inflation and the continued tightening of monetary policy and interest rate hikes. Spot gold rose 0.9 percent to $4,755.11 per ounce by 02:25 GMT, after falling to its lowest level since April 13 on Tuesday. U.S. gold futures for June delivery rose 1.1 percent to $4,772.90.
According to Yemen News Agency, oil prices fell after rising by about a dollar in early Asian trading, as investors assessed the prospects for peace talks between the United States and Iran following the ceasefire extension. Brent crude futures fell 21 cents, or 0.2 percent, to $98.27 a barrel by 0039 GMT, after touching $99.38 earlier in the session. U.S. West Texas Intermediate crude futures fell 28 cents, or 0.3 percent, to $89.39, after rising to $90.71.