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Riyadh Metro Launches Red and Green Lines

The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
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Riyadh Metro Launches Red and Green Lines

The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA
The Red Line is 25.1 kilometers long while the Green Line is 13.3 kilometers long. SPA

The Royal Commission for Riyadh City (RCRC) announced the roll-out of two additional lines (Red: King Abdullah Road, and Green: King Abdulaziz Road) of the Riyadh Metro on Sunday; passengers have access to stations on the two lines from 6:00 am to 12:00 am.
Five out of the six metro lines are now operational.
The Red Line is 25.1 kilometers long, and runs from east to west along King Abdullah Road, connecting King Fahd Sports City to King Saud University across 15 stations, including the Riyadh International Convention and Exhibition Center.
It intersects with the Blue Line at the STC Station, with the Green Line at the Ministry of Education Station, and with the Purple Line at Al Hamra Station.
The Green Line, King Abdulaziz Road, is 13.3 kilometers long, and runs from King Abdullah Road along the Ministry of Education all the way to the National Museum.
Its 12 stations serve several government entities, including the Ministry of Defense, the Ministry of Finance, and the Ministry of Commerce, as well as several commercial, service, and residential facilities.
All stations on the line will be open to the public on Sunday, except the Ministry of Finance and the National Museum stations, which will be operational at a later date.
The Green Line intersects with the Red Line at the Ministry of Education Station, and with the Blue Line at the National Museum Station.
According to the previously announced roll-out plan, the Orange Line (which covers Madinah Road) will open on January 5, 2025, making the Riyadh Metro network fully operational.
Passengers may identify destinations and purchase tickets using the “Darb” mobile application or at the Riyadh Metro stations.

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Gold Edges Down as Markets Eye Fed's 2025 Monetary Policy Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
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Gold Edges Down as Markets Eye Fed's 2025 Monetary Policy Outlook

Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. REUTERS/Arnd Wiegmann/File Photo

Gold prices edged lower as the dollar held firm on Wednesday, with investors awaiting a key US Federal Reserve decision expected to shape market sentiment and gold's trajectory by outlining the central bank's 2025 outlook.

Spot gold slipped 0.3% to $2,637.13 per ounce by 10:00 a.m. EST (1500 GMT). US gold futures were down 0.3% at $2,653.20.

The Fed's 2025 economic projections and decision are due at 2 p.m. EST (1900 GMT), followed by Fed chair Jerome Powell's press conference at 2:30 p.m. EST, Reuters reported.

"What markets will truly focus on is the tone set by Jerome Powell. A hawkish stance could drive Treasury yields higher and bolster the dollar, putting downward pressure on gold prices," said Ricardo Evangelista, senior analyst at ActivTrades.

"Conversely, a more cautious tone might provide some support for bullion."

While markets are pricing in a 99% probability of a 25 basis point rate cut during this meeting, the chances of another reduction in January stand at only 17%.

Non-yielding gold tends to do well in a low-interest-rate environment.

Traders are also watching out for key US GDP and inflation data due later this week that could further shape expectations around monetary policy.

"I do see the consolidation as a continuation pattern within the longer term uptrend in gold. I think that trend will re-exert itself in the first quarter of 2025," said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Grant highlighted that bullion remains underpinned by easing central bank policies, geopolitical tensions, sustained buying by central banks, and rising global political instability.

UBS echoed this sentiment in a note, predicting gold would "build on its gains in 2025." The bank emphasized that central banks are likely to continue accumulating gold as they diversify reserves, while heightened demand for hedges could drive inflows into gold-backed exchange-traded funds (ETFs).

Spot silver fell 1.1% at $30.19 per ounce, platinum slipped 1.3% to $926.90, while palladium declined 1.3% to $922.19.