Goldman Sachs

China–UAE News

Investors Track China Interventions, Dubai Yulan Bond Debut, and Interest Rates

Market participants are monitoring key financial metrics including state-backed Chinese ETF purchases and Bank of China Dubai's landmark Yulan bond debut on Nasdaq Dubai. The two-year, 2 billion yuan bond issue was more than five times oversubscribed, with sovereign accounts taking over 30 percent. Other major indicators include Standard Chartered's 46 percent profit rise and steady benchmark interest rates in the US and Hong Kong.

Industry News

Gold Producers Shift to Domestic Refining and Bullion Reserves Amid Dollar Concerns

Emerging gold-producing countries across Asia are increasingly retaining domestic gold production through local refining, export duties, and central bank purchases rather than exporting raw ore to Western financial hubs. The trend is driven by efforts to protect sovereign reserves against foreign asset freezes and to reduce reliance on the US dollar. Analysts note that major central banks, including China's, have significantly expanded their bullion holdings while trimming US Treasury holdings.

Industry News

Gold Surges Past $4,150 Amid Slower US Jobs and Central Bank Inflows

Spot gold rose 0.4% to $4,158.17 an ounce after weak US employment figures reduced the perceived probability of an October Federal Reserve rate hike. The price recovery was supported by safe-haven buying from Middle East tensions, record global ETF inflows, and a 20-tonne gold purchase by China's central bank in August.

Industry News

Chinese Refined Fuel Export Suspension Pushes Brent Crude Past $100 per Barrel

Chinese refiners have suspended refined-product exports beyond Hong Kong and Macau until further notice, pushing Brent futures above $100 per barrel. The move comes as Middle East crude exports rebounded to 17.5 million barrels per day following the restart of Saudi Arabia's East-West Pipeline.