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Ma’aden Included on Forbes 2000 List of World’s Largest Public Companies

Forbes Global 2000 included the Ma’aden in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues.
Forbes Global 2000 included the Ma’aden in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues.
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Ma’aden Included on Forbes 2000 List of World’s Largest Public Companies

Forbes Global 2000 included the Ma’aden in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues.
Forbes Global 2000 included the Ma’aden in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues.

Forbes Global 2000 has included the Saudi Arabian Mining Company (Ma’aden) in the World’s Largest Public Companies List based on its asset value, market value, net income and revenues, reported the Saudi Press Agency.

The list included 40 Arab companies, 16 of which were Saudi.

Ma'aden stated that this achievement was made possible by the company's unwavering commitment to production rates and customer service.

Ma'aden commodities are available in over 21 countries worldwide, contributing positively to financial performance.

Ma'aden's brand market value has lately increased by 69 percent to over SR1.8 billion, making it the largest multi-commodity mining company's brand in the Middle East.

Its strategy plan emphasizes portfolio diversification and growing the quantity of extracted minerals, as well as adherence to the highest environmental, social, and governance standards.

Ma'aden is one of the world's fastest-growing mining companies and the Middle East's largest multi-commodity mining and metals company.

Because of its market value, Ma'aden ranks among the top ten mining companies in the world.

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Gold Hits Record High on Trade War Woes, Weak Dollar

FILE PHOTO: Gold bars are displayed at a gold jewelery shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma//File Photo
FILE PHOTO: Gold bars are displayed at a gold jewelery shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma//File Photo
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Gold Hits Record High on Trade War Woes, Weak Dollar

FILE PHOTO: Gold bars are displayed at a gold jewelery shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma//File Photo
FILE PHOTO: Gold bars are displayed at a gold jewelery shop in the northern Indian city of Chandigarh May 8, 2012. REUTERS/Ajay Verma//File Photo

Gold scaled a record peak on Monday, spurred by concerns over global economic growth amid the US-China trade war, while a weaker dollar further boosted the rally.
Spot gold advanced 1.9% to $3,391.02 an ounce as of 0641 GMT after hitting a record high of $3,391.62 earlier in the session.
US gold futures firmed 2.2% to $3,402.80.
The dollar index hit a three-year low, making gold more attractive for other currency holders, Reuters said.
"Fundamentally, markets are pricing in heightened geopolitical risks, driven by US tariff tensions and stagflation concerns, while resilient central bank demand offers an added tailwind for prices as well," said IG market strategist Yeap Jun Rong.
US President Donald Trump announced "reciprocal tariffs" on dozens of countries on April 2, and while his administration paused levies for some countries, it has ratcheted its trade battle with China.
On Monday, China warned countries against striking a broader economic deal with the US at its expense, a move Trump is reportedly seeking from countries looking for tariff reductions or exemptions.
Meanwhile, Trump launched a series of attacks against Federal Reserve Chair Jerome Powell, with his team evaluating whether they could fire Powell.
On the geopolitical front, Russia and Ukraine accused each other of thousands of attacks that violated the one-day Easter ceasefire declared by President Vladimir Putin, with the Kremlin saying there was no order to extend the pause in frontline fighting.
These issues bode well for the safe-haven bullion.
However, gold's relative strength index (RSI) stands at 75, indicating that the metal is overbought.
"The next potential milestone for gold could be around the $3,500 level, though positioning may appear crowded in the near term and technical indicators suggest near-term overbought conditions," IG's Rong said.
Spot silver added 0.8% to $32.84 an ounce, platinum gained 1% to $976.60, while palladium fell 0.2% to $961.50.