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The rise, and rise, of the price of gold in recent years has attracted much commentary. It has risen by more than 40% in the past year – from around $2,300 per ounce at the beginning of July 2024 to $3,680 per ounce in mid-September 2025. The precious metal, historically used as a currency and which has few industrial applications, is seen as a safe source of value at a time of high public sector debt and declining confidence in paper currencies.Yet it is not the only metal or mineral to have increased substantially in value. According to the UN Trade and Development Department, the price of metals, ores and minerals rose 23.6% between March 2024 and March 2025. The price of precious metals jumped 37.4%.The hi-tech economy relies upon a complex network of supply chains and a diverse range of raw materials. Precious and rare-earth metals are of global strategic significanceMuch of the increase in demand is for industrial reasons, neither speculative nor as a currency hedge. Nickel, lithium and cobalt are in demand. Use of copper is projected to rise by more than 40% by 2040, the UN group noted. This would require an estimated 80 new mines and $250bn in investment. More than half of copper reserves are located in five countries.Rare earth metals have emerged as commodities of global strategic importance. There are a total of 17 chemically similar metals categorised as rare earths, and they are essential for the manufacture of many hi-tech products, including smart phones, televisions, cars, wind turbine engines and military devices. They are also used in medical devices, such as MRI scans and laser surgery.According to the International Energy Agency, China controls 61% of rare earths extraction, and 92% of its refining. It was notable that this control was a significant bargaining chip in the trade negotiations between China and the US in Geneva in May. China had restricted export for seven rare earth metals – not a ban, but exporters had to apply for a licence – and ending this restriction for non-military purposes was a key outcome of the negotiations which resulted in a substantial reduction of tariffs. The seven are samarium, gadolinium, yttrium, terbium, lutetium, dysprosium, and scandium.Specialist magnets require rare earths, are used in many products. China manufactures many of the magnets, as well as mining and refining the metals.Demand for rare earths is projected to rise 50-60% by 2040. The US has identified its own sources for rare earth metals, investing in mines in its own territory, in Brazil and South Africa. But developing and scaling supply would take time.The metaphor of the ‘cloud’, referring to shared computer storage place, gives the impression of a nebulous space. But AI and the cloud involve engineering: Huge energy-consuming data centres with cooling systems. Data centres require rare earths, gallium, copper and silicon.A time of rising global tension and conflict has resulted in increased military expenditure. Defence is now hi-tech – it could almost be categorised as a sub-branch of the computing and AI industry, following rapid advances in drone warfare in the Russia-Ukraine conflict. Many hi-tech weaponry uses a diverse range of materials, including rare earth metals.High-volume commodities, notably oil and liquefied natural gas (LNG) also remain in high demand. The energy transition involves a strategic switch from fossil fuels to renewable sources, but it will take decades to complete, moreover oil and gas have more applications than their direct use for generating electricity and the internal combustion engine. Oil is the primary raw material for manufacturing plastics, including for components used in electric vehicles, for example.The economy of the 21st century features AI, cryptocurrencies, cloud computing and renewable energy, but this hi-tech superstructure rests upon the traditional foundations of mining, cargo ships, refining plants and factories – features that never went away and are not about to go out of fashion.Investing in commodities and the companies that refine and supply them has growing appeal. Commodities have tangible value, real-world applications and are finite in supply. Gold is precious, but perhaps samarium, gadolinium, yttrium, terbium, lutetium, dysprosium, and scandium are more precious still.The author is a Qatari banker, with many years of experience in the banking sector in senior positions.

Gold prices remained steady on Monday as investors awaited a widely expected rate cut by the US Federal Reserve this week, while profit-taking and a firmer dollar kept gains in check. Spot gold held its ground at $3,642.65 per ounce.US gold futures for December delivery were down 0.2% at $3,680.20.Elsewhere, spot silver was up 0.1% at $42.20 per ounce, platinum gained 0.5% to $1,397.59, and palladium rose 0.2% to $1,197.88.

Gold rallied to a fresh record as an unexpectedly weak US employment report bolstered wagers that the Federal Reserve will cut interest rates later this month, reports Bloomberg. Bullion rallied as much as 1.5% to hit a fresh all-time high above $3,600 an ounce, extending a steep rally this week as bets on rate cuts intensify.The move came as a pivotal US payrolls report on Friday showed a slowdown in hiring, while unemployment rose to the highest level since 2021. Lower borrowing costs tend to boost the appeal of non-yielding gold, which has also seen support from strong haven demand amid concerns over the US central bank’s future.

The arid Dawkah valley is home to one of Oman's most prized resources: not oil or gas but frankincense trees, their fragrant sap harvested for millennia by residents who call it "white gold".Located in Oman's southern Dhofar region, bordering Yemen, the valley is the world's largest such reserve, home to around 5,000 frankincense trees that dot the barren earth, their trunks bearing kernels that exude a distinctive woody scent."For us, frankincense is more precious than gold. It's a treasure," said Abdullah Jaddad, a frankincense harvester resting in the shade of a tree.The oil extracted from the sap of the frankincense tree is used in perfume and skincare but it is also sold as solid beads of fragrance in local markets.The high-end Omani perfume-maker Amouage, which manages the reserve, sells its luxury scents internationally for hundreds of dollars a bottle -- with one limited edition perfume containing frankincense sold for nearly $2,000.The Dawkah valley is one of the rare places in the world where the Boswellia tree, from which frankincense resin is extracted, grows. Since 2000, it has been a Unesco World Heritage Site as part of the Land of Frankincense listing, along with Khor Rori, Al Baleed and Shisr.With its unique earthy scent, frankincense has long been used as incense, but also in traditional medicine, and even religious rituals.Before modern technology, the frankincense trade, which began in the third millennium BC, extended from Dhofar via sea and caravan routes to Mesopotamia, the Indus Valley and Ancient Egypt, all the way to Greece, Rome and even China."Frankincense had roughly the same value as oil today," according to Ahmed al-Murshidi, who heads the Khor Rori site.The ancient port of Samahram, which forms part of the Khor Rori site, served as the gateway for frankincense to the world.As Jaddad collected dried beads of sap from the trees, he told AFP that the type of frankincense found in the valley was the Najdi -- one of four main varieties.The Najdi and Hojari varieties are used for their medicinal properties, according to Faisal Hussein Bin Askar, whose father founded the Bin Askar frankincense shop, in business since the 1950s."The cleaner and purer the frankincense, the more suitable it is for drinking as a treatment, while the rest is used as incense," he said, adding that several factories in Dhofar are specialised in frankincense skincare and oils.The highest-grade and rarest frankincense has a light green colour.'QUICK TO ANGER'The resin is harvested by hand using traditional methods that involve cutting the bark to release the sap and leaving it for a few days to harden.Harvesting the tree requires care and skilled craftsmanship.As one guide put it to a group of tourists at the Land of Frankincense Museum in Salalah: "the frankincense tree is quick to anger"."We strike the tree in specific, small spots, about five times, to preserve" the plant, said Musallam bin Saeed Jaddad, who works in the reserve."No one should cut open a frankincense tree... it could kill it," he said.In 2022, Amouage partnered with Omani authorities to develop the Dawkah reserve and provide jobs for the local community, only harvesting a fifth of the trees to preserve them.Each tree has a unique code and is monitored by a team of specialists, with donations open to anyone wanting to help the reserve in exchange for small gifts of frankincense products every year.A distillery is set to be built in the reserve to extract the frankincense oil, a process for now completed in France, said Mohammed Faraj Istanbuli, the reserve supervisor."The government is carrying out vital projects, like building roads for example, which threatens other areas where frankincense trees grow," he said."We bring those trees... to the reserve. We have saved about 600 trees so far."

The Dubai-based investor and founder of Alluca Financial is quickly becoming one of the most trusted global voices in the alternative wealth space. Unlike influencers pushing the latest financial trends, Chiniborch has built his reputation by promoting stability over hype — and putting physical gold at the center of the conversation.A Warning to the OverleveragedChiniborch’s warning isn’t rooted in fear — it’s rooted in history. From the fall of fiat-backed empires to the collapse of modern banks, he believes today’s economic environment mirrors every bubble that came before:overconfidence, overleverage, and an underestimation of risk.“We’ve normalized trillion-dollar bailouts and negative real interest rates. The average person is sitting in a system designed to inflate everything except their true wealth.”Gold Doesn’t Inflate — It ProtectsWhere fiat currencies can be printed at will, gold remains what it always has been: limited, tangible, and universally trusted. It doesn’t rely on counterparty risk, app updates, or central bank confidence.That’s why Chiniborch advocates for gold not as a speculative asset, but as a form of self-defense. He calls it “freedom insurance.”“You don’t need gold to get rich. You need gold to stay rich,” he often says. “In the next financial reset, the winners won’t be the ones holding paper promises — they’ll be the ones holding weight.”A Balanced but Unapologetic ApproachUnlike some gold maximalists, Chiniborch also acknowledges the role of digital assets like Bitcoin — but he emphasizes the difference between volatility and value. His message is one of balance and truth: diversify, but never forget the one asset that’s weathered every storm.As governments continue to increase debt ceilings and expand money supply, his words are resonating with investors across continents.

Malabar Gold & Diamond (MGD), the fifth largest jewellery retailer globally with over 400 showrooms across 13 countries, has unveiled their Gold Rate Protection offers, a statement said Monday.Customers can block the gold rate until October 19, 2025 by paying just 10% as an advance, it was explained. If gold rate increases at the time of purchase, customers can avail the blocked rate and if it reduces they can still draw mileage of the reduced rate.For example, a customer intending to buy gold jewellery worth QR10,000 just needs to pay QR1,000 to avail the gold rate protection offer and in turn get protected from the increasing gold rates. Customers can also avail a complimentary diamond voucher for first advance bookings made on or before September 28.The offer will be valid across all MGD showrooms. Customers can either pay the advance directly at the showroom or online, via MGD mobile app.“The Gold Rate Protection scheme has consistently been a customer favourite, offering peace of mind in times of unpredictable gold prices. Especially now, with the festive season approaching and market rates fluctuating, this initiative empowers customers to secure their jewellery at the prevailing price with just a 10% advance, ensuring that their festive purchases remain unaffected by future price movements. What makes the process even simpler is our mobile app, which allows customers to make an advance with complete ease and security,” said Shamlal Ahamed, managing director - International Operations, MGD.In addition to the 10% advance option, customers can also pay 50% and 100% of the amount as advance to get gold rate protection for 90 days and 180 days respectively. This option will be available to customers throughout the year across all showrooms of MGD, the statement added.