Saudi Minister of Industry Visits Columbia University, Engages with Saudi and International Students

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits Columbia University on Wednesday. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits Columbia University on Wednesday. (SPA)
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Saudi Minister of Industry Visits Columbia University, Engages with Saudi and International Students

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits Columbia University on Wednesday. (SPA)
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visits Columbia University on Wednesday. (SPA)

Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef visited on Wednesday Columbia University in the United State, the oldest university in New York State.

He was briefed on the latest academic programs supporting the industrial and mining sectors and met with faculty members, as well as Saudi, American, and international students from around the world.

During an interactive discussion with academics and students, Alkhorayef discussed Saudi Arabia’s industrial and mining transformation journey, focusing on promising industrial sectors being developed and localized as part of the national industrial strategy.

He emphasized the goals of Vision 2030 to transform the Kingdom into a leading global industrial power by maximizing the economic contribution of the industrial and mining sectors, diversifying income sources, and increasing their contribution to the GDP.

Alkhorayef highlighted the importance of the scholarship program as a vital cultural bridge for fostering civilizational communication among nations.

He stressed that the Kingdom relies on and invests in its citizens to shape the future, citing the Custodian of the Two Holy Mosques' Scholarship Program and the Human Capacity Development Program, both aimed at developing national talents and equipping them with the skills needed to compete globally across various fields.

He noted that the industrial and mineral resources ecosystem is keen on engaging with scholarship students abroad, helping them explore future opportunities in the industrial and mining sectors through various programs and initiatives.

The visit to Columbia University is part of Alkhorayef's ongoing tour of the United States, which runs until September 28 and includes stops in New York, California, and Nevada. The tour aims to boost industrial and mining cooperation, attract quality investments to the Kingdom, and explore mutual opportunities in advanced industrial sectors.



Safe-Haven Gold Breaks $2,700/Oz Level as Uncertainty Looms

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
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Safe-Haven Gold Breaks $2,700/Oz Level as Uncertainty Looms

FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo
FILE PHOTO: Gold bullions are displayed at GoldSilver Central's office in Singapore June 19, 2017. REUTERS/Edgar Su/File Photo

Gold breached the $2,700-per-ounce level on Friday for the first time ever, as US election jitters and simmering Middle East tensions boosted safe-haven demand, while a looser monetary policy environment also added fuel to the rally.
Spot gold firmed 0.6% to $2,709.28 per ounce by 0430 GMT and gained 2% this week. US gold futures rose 0.6% to $2,724.50.
Gold could gather further traction given the fluidity of election developments and geopolitical uncertainties, said OCBC FX strategist Christopher Wong.
Hezbollah said it will escalate war with Israel after the killing of Hamas leader Yahya Sinwar.
Elsewhere, with less than three weeks remaining to cast votes this US presidential election, Democratic Vice President Kamala Harris and Republican former President Donald Trump are stretching for the support of every last voter.
"Gold has scoffed at a surging dollar and rallies at every chance it gets. It's just a bull market that shows no signs of exhaustion," said Tai Wong, a New York-based independent metals trader.
US economic data released overnight pointed to a strengthening economy, which boosted the US dollar. But traders still see a 90% chance of a Federal Reserve rate cut in November. The European Central Bank cut interest rates for the third time this year as the euro zone economy sags.
Lower rates increase the non-yielding bullion's appeal.
Bullion will continue to perform well over the long term, benefiting from the precarious fiscal situations of many Western nations, and the global desire for a store of value independent of other assets and institutions, said Ryan McIntyre, senior portfolio manager at Sprott Asset Management.
Delegates to the London Bullion Market Association's annual gathering
predicted
gold would rise to $2,941 over the next 12 months and silver to $45.
Spot silver rose 0.9% to $31.97 and headed for a weekly gain. Platinum added 0.6% to $997.80 and palladium increased 0.6% to $1,048.55.