688 Trucks Loaded With Syrian Goods Enter Saudi Market

A woman shops for snacks at a supermarket in the capital Riyadh, Saudi Arabia, Oct. 18, 2020. (AFP Photo)
A woman shops for snacks at a supermarket in the capital Riyadh, Saudi Arabia, Oct. 18, 2020. (AFP Photo)
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688 Trucks Loaded With Syrian Goods Enter Saudi Market

A woman shops for snacks at a supermarket in the capital Riyadh, Saudi Arabia, Oct. 18, 2020. (AFP Photo)
A woman shops for snacks at a supermarket in the capital Riyadh, Saudi Arabia, Oct. 18, 2020. (AFP Photo)

The Saudi General Authority of Customs confirmed the smooth flow of Syrian exports through Saudi ports to the local markets, indicating that trucks coming from Syria have entered according to the approved regulations and in line with the customs procedures.

In remarks to Asharq Al-Awsat, the Customs Authority said that Al Haditha crossing, which is located on the northern borders of the Kingdom, saw the passage of more than 688 trucks from August 2016 until the end of last October, loaded with goods from Syria, while more than 799 trucks left Saudi territory during the same period.

There is no specific mechanism or procedure for Syrian trucks, Customs officials said. The same procedures and regulations are applied for all exporting countries.

Asked whether there was a list of specific Syrian goods allowed to enter the Saudi territory, the officials said: “There are no specific goods; but only items and goods that are permitted to enter according to the approved regulations in the Kingdom.”

Meanwhile, sources in the Saudi retail markets told to Asharq Al-Awsat that Syrian products were always available, “and they include various types of vegetables, fruits, and other products and commodities that are sold in many Saudi cities.”



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.