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Gold surged to a fresh record high on Tuesday as investors sought safe-haven assets amid a prolonged US government shutdown and growing expectations of a Federal Reserve rate cut later this month. Spot gold rose 0.4% to $3,974.09 per ounce, trading near its all-time high of $3,977.19 earlier in the session. US gold futures for December delivery gained 0.5% to $3,996.40. The precious metal has climbed 51% so far this year, supported by strong central bank purchases, robust inflows into gold-backed exchange-traded funds, a weaker dollar, and increased demand from retail investors seeking protection amid heightened geopolitical and trade tensions. In other precious metals, spot silver was little changed at $48.52 per ounce, platinum rose 0.1% to $1,626.55, and palladium advanced 0.9% to $1,330.91.

Malabar Gold & Diamonds (MGD), the fifth largest jewellery retailer globally with over 410 showrooms across 14 countries has strengthened their presence in Australia with the launch of their second showroom in the country at Melbourne.The new showroom was inaugurated by acclaimed Bollywood actor and MGD brand ambassador Anil Kapoor in the presence of Malabar Group vice-chairman Abdul Salam K P, MGD’s international operations managing director Shamlal Ahamed, senior director Mayankutty C, Malabar Group executive directors Nishad A K, K P Veerankutty, MGD’s manufacturing head Faisal A K, finance and administration director Ameer C M C, Malabar Group chief digital officer Shaji Kakkodi, other senior management team members from Malabar Gold & Diamonds, customers and well-wishers.“As the first Indian international jewellery retailer in Melbourne, our presence is sure to transform the city’s jewellery and retail landscape,” Malabar Group chairman M P Ahammad said.“Our first showroom in Sydney, which was launched in 2023, was an immense success. With the Melbourne showroom being our 409th global outlet, we are one step closer to our goal of being the world’s no 1 jewellery retailer,” he added.Located at Westfield Fountain gate, the new showroom offers a selection of over 20,000 designs in gold, diamonds, and precious gem jewellery. Customers can explore more than 25 exclusive collections from MGDs’ vast design portfolio, alongside specialised services such as bespoke jewellery design and exclusive bridal creations.“The overwhelming reception of both our showrooms reaffirms the universal appeal of our design portfolio, service excellence and responsible operations, reinforcing our confidence in the long-term potential of this region”, commented Salam.“Australia is a cornerstone of our Asia-Pacific expansion, and the launch of our Melbourne showroom marks a significant step in strengthening our presence in the region,” said Shamlal Ahamed.“With upcoming launches planned in Brisbane, Perth, Adelaide, and another showroom in Melbourne, our rapid expansion reflects the deep trust and confidence our customers have placed in us,” he added.

Qatar Railways Company (Qatar Rail) has been recognized with the "Prestigious RoSPA Gold Award" by the Royal Society for the Prevention of Accidents (RoSPA), UK, for the year 2025. This global recognition was achieved thanks to the collaborative efforts and innovation of Qatar Rail, and its service provider, RKH's Occupational Health and Safety Teams, supported by robust health and safety management systems across all operations, said a press release from Qatar Rail. The RoSPA Adjudication Panel evaluated Qatar Rail's practices across a wide range of categories, including leadership, workforce involvement, planning and risk assessment, communication, monitoring, investigation, and performance review, among others. On this occasion, Senior QSHESE Director at Qatar Rail Eng. Abdulrahman Al Malik stated: "This achievement reflects Qatar Rail's leadership and its efforts in collaboration with RKH Qitarat to enhance the effective use of health and safety management systems, as well as its continuous commitment to adopting the best international practices. Additionally, it reflects our unwavering commitment to safeguarding the health and wellbeing of our employees, passengers, and partners. This accolade is also a testament to the culture of care, accountability, and continuous improvement that drives our operations and strengthens Qatar Rail's role as a leader in sustainable and safe mobility." Winning the RoSPA Gold Award places Qatar Rail among an elite group of international organizations that have demonstrated world-class leadership in health and safety. The award is particularly significant as it is recognized across industries globally, from transport and infrastructure to energy and healthcare, making it a hallmark of international excellence and trust. In 2017, Qatar Rail won three international awards from the Royal Society for the Prevention of Accidents (RoSPA) for the Lusail Tram and the Doha Metro Gold and Green Lines. The Lusail Tram won the Gold Award for Health and Safety for the second consecutive time, while the Doha Metro Gold and Green Lines won the Silver Award, and the main stations won the Guardian Angel Award. The Lusail Tram was awarded the RoSPA Gold medal in 2020 for winning RoSPA Gold for 5 consecutive years from 2016-2020. Each year, nearly 2,000 entries are received from over 50 countries, representing organizations that collectively employ more than seven million people. The RoSPA Awards recognize organizations that set the highest benchmarks in accident prevention, workplace safety, and employee wellbeing.

The price of gold in the Qatari market increased by 2.78 % this week to stand at $3,865.65000 per ounce on Thursday. Qatar National Bank (QNB) data showed that the price of gold increased from $3,760.83250 recorded last Sunday. As for other precious metals, silver rose by 2.53% on a weekly basis to reach $47.22800 per ounce compared to $46.05870 at the start of the week. Platinum fell by 0.44% to $1,567.84000 per ounce compared to 1,574.90530 at the beginning of the week.

Gold eased on Thursday from the record high hit the day before, pressured by profit-taking and a slight uptick in the dollar, although expectations of further US rate cuts and political uncertainty lent some support to prices. Spot gold was down 0.2% at $3,858.50 per ounce, after hitting an all-time high of $3,895.09 on Wednesday. US gold futures for December delivery fell 0.4% to $3,883.60. The dollar index was up 0.1% against its rivals, making gold more expensive for other currency holders. Elsewhere, spot silver slipped 0.5% to $47.07 per ounce, platinum fell 0.3% to $1,552.05, and palladium gained 1% to $1,256.93.

Gold prices surged to a record high on Wednesday, driven by investor demand for safe-haven assets after the official start of the US government shutdown and as soft labor data bolstered expectations of Federal Reserve rate cuts. Spot gold was up at $3,873.46 per ounce. Bullion logged about 12% rise in September, making it the metal's sharpest monthly rise since August 2011. US gold futures for December delivery gained 0.4% to $3,888.80. Elsewhere, spot silver was steady at $46.64 per ounce, platinum held its ground at $1,573.76 and palladium fell 0.4 % to $1,252.25.

Gold prices rose further to hit a fresh high on Tuesday and were poised for their best month in 14 years, as fears of a potential US government shutdown and growing expectations of further US interest rate cuts boosted demand for the safe-haven metal. Spot gold was up 1% at $3,869.75 per ounce. Bullion has risen 11.4% so far in September, on track for its best month since August 2011. US gold futures for December delivery gained 0.4% to $3,872. Spot silver was steady at $46.95 per ounce, platinum eased 0.2% to $1,597.58, and palladium fell 0.8% to $1,259.02.

The price of gold in the Qatari market increased by 1.36 percent this week to stand at USD 3736.71000 per ounce on Thursday. Qatar National Bank (QNB) data showed that the price of gold increased from USD 3686.22510 recorded last Sunday. As for other precious metals, silver rose by 2.03 percent on a weekly basis to reach USD 44.00570 per ounce compared to USD 43.13000 at the start of the week. Platinum increased by 5.17 percent to USD 1484.97000 per ounce compared to USD 1411.88850 at the beginning of the week.

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."