Saudi Ambassador to US to Chair Int’l Women in Defense Program at World Defense Show

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
TT

Saudi Ambassador to US to Chair Int’l Women in Defense Program at World Defense Show

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)
Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program at the World Defense Show 2024 in Riyadh. (World Defense Show)

Saudi Ambassador to the United States Princess Reema bint Bandar bin Sultan bin Abdulaziz will chair the International Women in Defense Program, which aims to promote women's participation and celebrate their significant role in the defense sector.

The program is part of the upcoming World Defense Show 2024 that will be held in Riyadh in February under the patronage of Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al-Saud.

A press release from the organizers of the show quotes Princess Reema as emphasizing the Kingdom's commitment to promoting and supporting women's endeavors in all sectors, including in defense and security.

She highlighted the importance of empowering and integrating women in the Saudi labor market, as outlined in Saudi Vision 2030, adding that there have already been successful examples of women achieving excellence in different fields.

She underlined that such programs generate global momentum and reflect the Saudi government's commitment to empowering and boosting women's participation in all spheres.

The Women in Defense Program serves as a platform that increases opportunities to contribute to this ongoing success, she stated.

The program will bring together women CEOs and leaders from different countries to highlight their achievements, address challenges, and explore their contributions to the defense sector through a series of seminars and discussions.



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
TT

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.