Expo! Expo! MENA Opens in Riyadh

The International Association of Exhibitions and Events holds Expo! Expo! MENA in Riyadh
The International Association of Exhibitions and Events holds Expo! Expo! MENA in Riyadh
TT

Expo! Expo! MENA Opens in Riyadh

The International Association of Exhibitions and Events holds Expo! Expo! MENA in Riyadh
The International Association of Exhibitions and Events holds Expo! Expo! MENA in Riyadh

Riyadh International Exhibition and Conference Center, in partnership with the Saudi Conventions and Exhibitions General Authority (SCEGA), hosts on Sunday the Expo! Expo! MENA exhibition, organized by 1st Arabia Tradeshows and Conferences.

The International Association of Exhibitions and Events holds Expo! Expo! MENA in Riyadh, marking the debut of the event outside the US, where it takes place each December.

The three-day exhibition acts as a platform for exchanging opinions and experience, finding opportunities, capabilities and solutions, learning about the latest developments in the industry, as well as showcasing the Saudi experience, which has become a milestone in the exhibition, conference and events sector.

1st Arabia Tradeshows and Conferences CEO Bilal Al-Barmawi said that more than 100 exhibitors from different countries participate in the exhibition, where Saudi Conventions and Exhibitions General Authority Acting CEO Amjad Shaker delivers the opening speech.

There’s also a lineup of speakers from different countries, authorities and organizations.

Throughout the working sessions, decision makers and experts will present best practices, innovations, new services and products, and there will be opportunities to strike partnerships and develop the business.

The exhibition enables participants and attendees to learn about investment opportunities in the Kingdom, which will help boost the sector and achieve its goals in line with Vision 2030.



Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold Hits Four-week Peak on Safe-haven Demand

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices rose to a near four-week high on Thursday, supported by safe-haven demand, while investors weighed how US President-elect Donald Trump's policies would impact the economy and inflation.

Spot gold inched up 0.4% to $2,672.18 per ounce, as of 0918 a.m. ET (1418 GMT). US gold futures rose 0.7% to $2,691.80.

"Safe-haven demand is modestly supporting gold, offsetting downside pressure coming from a stronger dollar and higher rates," UBS analyst Giovanni Staunovo said.

The dollar index hovered near a one-week high, making gold less appealing for holders of other currencies, while the benchmark 10-year Treasury yield stayed near eight-month peaks, Reuters reported.

"Market uncertainty is likely to persist with the upcoming inauguration of Donald Trump as the next US president," Staunovo said.

Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.

Trump will take office on Jan. 20 and his proposed tariffs could potentially ignite trade wars and inflation. In such a scenario, gold, considered a hedge against inflation, is likely to perform well.

Investors' focus now shifts to Friday's US nonfarm payrolls due at 08:30 a.m. ET for further clarity on the Federal Reserve's interest rate path.

Non-farm payrolls likely rose by 160,000 jobs in December after surging by 227,000 in November, a Reuters survey showed.

Gold hit a near four-week high on Wednesday after a weaker-than-expected US private employment report hinted that the Fed may be less cautious about easing rates this year.

However, minutes of the Fed's December policy meeting showed officials' concern that Trump's proposed tariffs and immigration policies may prolong the fight against rising prices.

High rates reduce the non-yielding asset's appeal.

The World Gold Council on Wednesday said physically-backed gold exchange-traded funds registered their first inflow in four years.

Spot silver rose 0.7% to $30.32 per ounce, platinum fell 0.8% to $948.55 and palladium shed 1.4% to $915.75.