Gold Falls as Inflation Fears Pressure Fed Rate-cut Outlook

AFP_96 Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna
AFP_96 Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna
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Gold Falls as Inflation Fears Pressure Fed Rate-cut Outlook

AFP_96 Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna
AFP_96 Gold bars weighing 1000 grams each are displayed at the Austrian Gold and Silver Refinery _Oegussa_ in Vienna

Gold prices dipped on Monday, pressured by concerns that surging oil costs could stoke inflation further and prompt a more hawkish policy stance by major central banks including the US Federal Reserve, dulling the appeal of the non-yielding asset.

Spot gold fell 0.7% to $4,983.17 per ounce, as of 0944 GMT. US gold futures for ‌April delivery ‌fell 1.5% to $4,987.30.

"The gold market has moved its ‌focus ⁠from looking at ⁠the implications of the Hormuz trade closure, and towards implications of longer-term inflation," said Bernard Dahdah, an analyst at Natixis.

"Higher oil prices mean higher inflation and this has repercussions on the Fed. The Fed could pivot, stop cutting rates and that puts downward pressure on gold prices."

Oil held above $100 a ⁠barrel, up more than 40% this month ‌to its highest levels since 2022, ‌after US-Israeli strikes on Iran prompted Tehran to halt shipments through ‌the Strait of Hormuz.

US President Donald Trump on Sunday pressed ‌allies to help secure the Strait of Hormuz as Iranian forces continue attacks on the vital waterway amid the US-Israeli war on Iran, now in its third week.

The Fed will meet this week ‌for a two-day policy meeting, where it is widely expected to hold interest rates steady.

Other ⁠central ⁠banks including the European Central Bank, the Bank of England and the Bank of Japan will also meet this week, with the focus on policymakers' assessment of the Iran war on inflation, growth and future policies.

"But we expect central banks to be watchful of inflation risks without making knee-jerk policy rate hikes," UBS said in a note.

"In addition, the longer the US-Iran conflict goes on, the higher the risk of negative economic impacts, which should support hedging demand for gold."

Elsewhere, spot silver fell 2.6% to $78.46 per ounce. Spot platinum held steady at $2,024.85 and palladium slid 0.5% to $1,542.92.



Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)
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Riyadh Ranked Among Top 100 Global Innovation Clusters

A view of Riyadh, Saudi Arabia. (SPA)
A view of Riyadh, Saudi Arabia. (SPA)

The Global Innovation Index has ranked Riyadh among the top 100 innovation clusters worldwide for 2026, making it the only Gulf city to attain this classification.

Riyadh placed 92nd globally, with key metrics including 419 venture capital deals in innovation and 162 international patent applications filed.

The report highlighted the main entities contributing to the capital's position in research and innovation. In research, King Saud University, Princess Nourah bint Abdulrahman University, and Prince Sultan University led the efforts, while SABIC and Aramco spearheaded innovation contributions.

The ranking reflects the Kingdom's integrated research and innovation ecosystem, supporting researchers and innovators in line with Saudi Vision 2030.


Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
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Türkiye to Start Oil-Targeted Drilling in Western Black Sea Soon, Minister Says

Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)
Türkiye's Energy Minister Alparslan Bayraktar speaks as he meets with reporters at Antalya Diplomacy Forum in Antalya, Türkiye, April 18, 2026. (Reuters)

Türkiye will soon begin drilling a challenging oil-targeted well in the western Black Sea, Energy Minister Alparslan Bayraktar said ‌on Wednesday.

"We ‌will soon ‌begin ⁠drilling an oil-targeted ⁠well in the western Black Sea. It will be a difficult ⁠drilling operation and will ‌take ‌some time," ‌Bayraktar told broadcaster ‌CNBC-e.

Türkiye has previously said it plans six exploration ‌wells across the western, central and eastern ⁠Black ⁠Sea in 2026 as it seeks new oil and natural gas discoveries.


Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
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Epson Makes Riyadh Its Regional Headquarters for Middle East and North Africa

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 
Husam Al Zughayyar, Regional Head of Sales at Epson Middle East (Asharq Al-Awsat) 

Japanese technology company Epson is strengthening its presence in Saudi Arabia and across the Middle East and North Africa with the opening of its regional headquarters in Riyadh, reflecting the Kingdom’s growing importance as a regional business and technology hub.

The headquarters is part of Epson’s strategy to expand its business in Saudi Arabia, where it has operated for more than 15 years, focusing on sectors including education, healthcare and entertainment and offering technology solutions tailored more closely to local market needs.

It will also strengthen links between Epson’s regional operations and its research and development centers in Japan, supporting the development of new solutions in innovation, sustainability and digital transformation.

Husam Al Zughayyar, Regional Head of Sales at Epson Middle East, told Asharq Al-Awsat that selecting Riyadh as the company’s MENA headquarters was part of its Saudi expansion strategy, describing the Kingdom as a strategic market for Epson.

“Establishing the regional headquarters for the Middle East and North Africa in Riyadh reflects the company’s long-term commitment to the Kingdom and its confidence in the potential of its market,” Al Zughayyar said. “Epson has operated in Saudi Arabia for more than 15 years, and the new headquarters represents an important step in expanding this presence and strengthening our operations in the Kingdom and the region.”

He noted that Epson was committed to improving service levels, strengthening ties with its local distribution network, and expanding its presence in the education sector to better serve customers in the Kingdom.

The regional headquarters will serve as a direct link with Epson’s research and data centers in Japan, allowing local insights and requirements to help shape next-generation technologies. The company plans to expand in strategically important sectors such as education, healthcare and entertainment, with solutions tailored to Saudi market needs.

Al Zughayyar highlighted Epson’s long-standing cooperation with Saudi Arabia’s education sector, including its partnership with Tatweer Educational Technologies Company (TETCO), a strategic technology arm of the Ministry of Education.

“We will provide interactive display solutions for schools and universities in the Kingdom, supporting the development of smart classrooms and interactive learning,” he stated, adding that the cooperation aligns with Saudi Vision 2030 objectives for education, digital transformation and technology investment.

Al Zughayyar expressed strong optimism about the Saudi market, citing its size and the rapid economic and technological transformation underway under Vision 2030, alongside growing adoption of digital technologies.

These developments are creating opportunities for technology companies in education, healthcare, financial services, tourism and hospitality, retail and government, he underlined.

Continued investment in digital infrastructure and smart cities, together with improvements in the business environment, is strengthening Saudi Arabia’s position as a regional hub for technology and innovation and its ability to attract international investment.

Epson sees substantial opportunities to offer innovative and sustainable solutions in printing, scanning, visual communications, manufacturing and lifestyle products tailored to evolving customer needs.

The company is also supporting digital transformation and local talent development. Epson launched a graduate program in 2022 to provide young professionals with practical experience and develop their skills, with three graduates subsequently joining its workforce.

Between 2022 and 2024, Epson increased its investment in facilities across the region by 28.6 percent and investment in human resources by 45 percent.

The company plans to expand its partner and channel network in Saudi Arabia, deepen relationships with local customers and partners and establish more direct links with its research and data teams in Japan.