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Gold Eases on Higher Yields, Firm Dollar; US-Iran Talks in Focus

Gold bracelets displayed at a jewelry store in Varanasi, India (AFP)
Gold bracelets displayed at a jewelry store in Varanasi, India (AFP)
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Gold Eases on Higher Yields, Firm Dollar; US-Iran Talks in Focus

Gold bracelets displayed at a jewelry store in Varanasi, India (AFP)
Gold bracelets displayed at a jewelry store in Varanasi, India (AFP)

Gold edged lower on Thursday as higher Treasury yields and a firm dollar weighed on the metal, while hopes of a resolution to the US-Iran conflict limited losses.

Spot gold was down 0.3% at $4,528.03 per ounce, as of 0611 GMT. Bullion had gained more than 1% on Wednesday after falling to its lowest level since March 30 earlier in the day.

US ‌gold futures for ‌June delivery fell 0.1% at $4,528.90.

The dollar rose ‌0.1%, ⁠making greenback-priced bullion expensive ⁠for other currency holders.

"Inflation expectation, rising yields, and stronger dollar are the headwinds keeping gold prices under pressure. And these factors will continue to remain in place until we get clarity on how long the conflict is going to persist," said ANZ analyst Soni Kumari.

Gold has fallen more than 14% since the war began in late February, as ⁠the non-yielding metal tends to decline on expectations of ‌higher interest rates.

Iran said it ‌was reviewing Washington's latest position on ending the war after US President Donald ‌Trump suggested he was prepared to wait a few days to "get ‌the right answers" from Tehran, Reuters reported.

The yield on the US 10-year Treasury bond was up 1 basis point at 4.578%, resuming its climb after snapping a three-day streak of declines.

Markets are increasingly pricing in possibilities of the Federal Reserve ‌tightening monetary policy this year, with a 39% chance of a 25 basis-point hike expected in December, ⁠per CME Group's ⁠FedWatch tool.

"The overall trend of 10-year US Treasury yield, since the start of early March, is still in a medium-term uptrend phase. Hence, gold bulls may not be so aggressive in beating up prices at this juncture," said Kelvin Wong, a senior market analyst at OANDA.

Minutes of the Fed's April meeting showed a majority of policymakers felt "some policy firming would likely become appropriate" if inflation stays persistently above the central bank's 2% target.

Gold is expected to remain weak in the upcoming sessions, with resistance seen at $4,645 levels and support at $4,456 levels, said Wong.

Spot silver was down 1.1% at $75.19 per ounce, platinum lost 0.9% to $1,933.13, and palladium fell 0.8% to $1,359.20

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Business

Saudi Arabia Requires Shipping Companies to Let Consumers Inspect Packages Before Accepting Delivery

An employee of the General Authority for Transport inspects postal parcel warehouses (SPA). 
An employee of the General Authority for Transport inspects postal parcel warehouses (SPA). 
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Saudi Arabia Requires Shipping Companies to Let Consumers Inspect Packages Before Accepting Delivery

An employee of the General Authority for Transport inspects postal parcel warehouses (SPA). 
An employee of the General Authority for Transport inspects postal parcel warehouses (SPA). 

Saudi Arabia’s Ministry of Commerce issued an official directive requiring all private-sector shipping and delivery companies to allow consumers to open packages, inspect their contents, and examine them in the presence of the delivery representative before completing final delivery or providing the verification code.

According to information obtained by Asharq Al-Awsat, the move is aimed at increasing transparency, strengthening consumer protection, and putting an end to inconsistent practices, and comes as Saudi Arabia’s e-commerce sector experiences record growth.

Active commercial registrations in the sector grew by 9 percent during the first quarter of this year, surpassing 45,600 commercial registrations, in line with the key objectives of the National Transformation Program supporting Vision 2030.

This advanced measure adopted by the Saudi Ministry of Commerce forms part of a broader global legal and legislative movement aimed at addressing the trust gap in the e-commerce environment, particularly during what is legally referred to as the “inspection before acceptance” stage. International practices — including the Vienna Convention on Contracts for the International Sale of Goods and civil laws in countries such as Germany and France — generally hold that a buyer is not legally obligated to accept goods or make final payment until given a “reasonable opportunity to inspect” them.

The measure is also expected to resolve one of the biggest legal disputes in shipping: establishing the “condition of the product at the moment of delivery,” thereby preventing the shifting of responsibility among the retailer, the shipping company, and the consumer.

The official spokesperson for the Ministry of Commerce, Abdulrahman Al-Hussein, recently addressed the issue in a video statement, settling the debate by stressing the importance of not providing the shipment code to the delivery representative before inspecting the package. He explained that the code constitutes an official acknowledgment by the consumer that all purchased items were received properly and met standards of safety and quality.

Al-Hussein emphasized that if a product is defective or does not match the agreed specifications, the consumer has the right to refuse delivery, underscoring the importance of safeguarding rights and obligations in e-commerce transactions.

According to the information obtained, the Ministry of Commerce notified all private-sector companies that customers must be allowed to open shipments and inspect their contents in front of the delivery representative before being asked to provide the product delivery verification code.

In recent months, consumers have increasingly called for tighter regulation of package delivery procedures, particularly following repeated cases involving shipments that did not match orders, arrived damaged, or were missing items. This prompted authorities to stress the necessity of allowing customers to verify shipments before completing delivery, thereby strengthening confidence in the e-commerce market and protecting the rights of all parties.

Growth of E-Commerce

Strengthening the e-commerce business ecosystem is one of the objectives of the National Transformation Program in support of Vision 2030, given the sector’s importance and its role in boosting the national economy. Saudi Arabia ranks among the world’s top 10 fastest-growing countries in this sector.

During the first quarter of this year, the e-commerce sector recorded 9 percent growth in active commercial registrations, exceeding 45,600 registrations by the end of the quarter, compared with 41,800 during the same period in 2025.

Riyadh accounted for the highest number of these registrations, with more than 20,000, followed by Makkah Province with 11,500. The Eastern Province came next with approximately 6,800 commercial registrations.

 

 

Business

GCC, Britain Announce Historic Trade Deal

From the signing ceremony of the joint statement concluding the free trade agreement negotiations (GCC)
From the signing ceremony of the joint statement concluding the free trade agreement negotiations (GCC)
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GCC, Britain Announce Historic Trade Deal

From the signing ceremony of the joint statement concluding the free trade agreement negotiations (GCC)
From the signing ceremony of the joint statement concluding the free trade agreement negotiations (GCC)

The Gulf Cooperation Council and Britain have announced a trade deal worth $5 billion a year in the long run, deepening economic ties between the two sides and making Britain the first G7 nation to sign such an agreement with the Gulf bloc.

The agreement was first discussed in 2017 following Britain's vote to leave the European Union, with formal negotiations commencing in June 2022.

The British government said Wednesday that the deal would be worth £3.7 billion ($4.96 billion) each year in the long term.

The deal will remove 93% of GCC tariffs on British goods, equivalent to the removal of £580 million worth of tariffs by the deal's tenth year, with ⁠two-thirds of the tariffs being removed as soon as the deal comes into force.

In return, Britain has lowered tariffs to the GCC, though the countries' main exports to Britain, oil and gas, are already tariff-free.

GCC Secretary-General Jasem Mohamed Albudaiwi said following the signing that the agreement had a framework designed to achieve "tangible and measurable" economic benefits for businesses, investors ⁠and citizens of ⁠the seven signatory countries, according to a statement by the GCC.

He said the agreement spans trade in goods and services, financial services, digital trade, investment protection, telecommunications and others.

Business

Airbnb Expands into Hotels, Cars, Groceries

The rollout marks the latest step in Airbnb's push to capture more of the travel spending that currently flows to competitors like Booking.com and Expedia. SCOTT OLSON / GETTY IMAGES NORTH AMERICA/AFP
The rollout marks the latest step in Airbnb's push to capture more of the travel spending that currently flows to competitors like Booking.com and Expedia. SCOTT OLSON / GETTY IMAGES NORTH AMERICA/AFP
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Airbnb Expands into Hotels, Cars, Groceries

The rollout marks the latest step in Airbnb's push to capture more of the travel spending that currently flows to competitors like Booking.com and Expedia. SCOTT OLSON / GETTY IMAGES NORTH AMERICA/AFP
The rollout marks the latest step in Airbnb's push to capture more of the travel spending that currently flows to competitors like Booking.com and Expedia. SCOTT OLSON / GETTY IMAGES NORTH AMERICA/AFP

Airbnb, facing tighter local regulations on short-term home rentals, announced Wednesday it is adding boutique hotels, car rentals and grocery delivery to its app in a bid to transform itself into a one-stop travel shop.

The rollout marks the latest step in Airbnb's push to capture more of the travel spending that currently flows to competitors like Booking.com and Expedia, said AFP.

This evolution -- 18 years after the company's scrappy beginnings in San Francisco -- is one of Airbnb's answers to increasingly tough restrictions on short-term rentals in key markets.

In December, Spain hit the company with a 65-million-euro ($75 million) fine over more than 65,000 non-compliant listings, and Barcelona decided not to renew thousands of rental licenses when they expire in 2028.

New York has banned nearly all short-term private rentals since 2023, and Paris stepped up its crackdown on illegal listings in 2026.

"Travel shouldn't just be convenient. It should be meaningful," CEO Brian Chesky said in a statement. "The best trips help you explore, learn, and come home a little different than when you left."

The updated app adds grocery delivery through Instacart in more than 25 US cities, as well as airport and train station transfers and luggage storage services in more than 160 cities worldwide.

The platform will also offer car rentals, though the company has not yet named its partners.

The app is also getting a range of artificial intelligence features, including a virtual support assistant available in 11 languages.

Airbnb posted revenue of $2.68 billion in the first quarter of 2026, up 18 percent from a year earlier.