Houthis Threaten International Navigation Twice in 10 Days

Tugboats are seen near a ship in the Red Sea port of Hodeidah, Yemen. (Reuters)
Tugboats are seen near a ship in the Red Sea port of Hodeidah, Yemen. (Reuters)
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Houthis Threaten International Navigation Twice in 10 Days

Tugboats are seen near a ship in the Red Sea port of Hodeidah, Yemen. (Reuters)
Tugboats are seen near a ship in the Red Sea port of Hodeidah, Yemen. (Reuters)

For the second time in ten days, international maritime navigation in the Red Sea came under direct threat from Yemen’s Houthi militias.

Official reports stated that the militias launched a ballistic missile towards south of Red Sea near al-Mandeb Strait through which a third of the world’s oil carriers pass.

Sources said the missile most likely fell in international waters in the Red Sea.

The missile, launched from Hajjah governorate, is the second threat to the navigation in the Red Sea following the attack on al-Mokha port with a bomb-laden boat.

The attack was deemed by the Saudi-led coalition as a threaten to the international navigation and regional and international security. The coalition added that the threat impeded the arrival of humanitarian and relief aid to the Yemeni people.

Only three months after operation Decisive Storm was launched in 2015, Houthis began targeting navigation in the Red Sea. Back then, the coalition forces took control of an island which the militants made a storage for ready-to-launch missiles.

As the Yemeni army takes control of larger areas of the country, militias are trying to implement a “preemptive” strategy by escalating attacks, whether against Saudi territories or threatening the security of international navigation.

Head of Foreign Affairs Committee of the Saudi Shura Council Zuhair al-Harthi believed that the attempts to impede the navigation is Iran’s main goal through its Houthi affiliates, who had been trained in Lebanon’s Bekaa region under the supervision of the Iran-backed “Hezbollah”.

Harthi informed Asharq Al-Awsat that main goal is to expand Tehran’s presence in the region by destabilizing countries that overlook the Mandeb Strait.

According to his analysis, Iran is using Houthis to destabilize Saudi Arabia’s security through targeting Red Sea navigation.

He underlined the strategic location of Yemen from a geopolitical point of view, noting that it lies south of the largest oil-producing country in the world, overlooks Mandeb Strait and faces the Horn of Africa.

Harthi called on the international community to unite to confront Iran and its continuous attempts to create a chaos in the Red Sea by supporting Houthis pirates. He reiterated that any Iranian control of the Mandeb Strait will affect the international oil supply and create economic turmoil.

He stressed that Iran must be held accountable for its transgressions, adding that it is important for the stability of the region and safety of international navigation.



Gold on Track for Weekly Gain on Trump Uncertainty; US Jobs Report Awaited

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
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Gold on Track for Weekly Gain on Trump Uncertainty; US Jobs Report Awaited

A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk
A view shows ingots of 99.99 percent pure gold in a workroom during production at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, May 23, 2024. REUTERS/Alexander Manzyuk

Gold prices inched higher on Friday as uncertainty around US President-elect Donald Trump's policies firmed demand for bullion, while investors awaited a key jobs report to assess the Federal Reserve's rate cut trajectory.
Spot gold edged 0.2% higher to $2,675.49 per ounce as of 0725 GMT. Bullion has gained more than 1% so far this week, set for its highest weekly jump since mid-November. US gold futures rose 0.3% to $2,698.30.
The US non-farm payrolls report is due at 1330 GMT. According to a Reuters survey, payrolls are expected to have increased by 160,000 in December, following a jump of 227,000 in November.
"We expect gold to drop a little in case the non-farm payroll report comes on a higher side," said Jigar Trivedi, senior analyst at Reliance Securities.
"Gold found support after a weaker-than-expected private employment report for December reinforced the notion that the Fed may need to adopt a less cautious approach to rate cuts," Trivedi said.
Kansas City Fed President Jeff Schmid on Thursday signaled a reluctance to cut rates again as the Fed faces a resilient economy and inflation that remains above its 2% target.
Trump's proposed tariffs and immigration policies may also prolong the fight against inflation.
Traders now expect the first Fed rate cut this year in either May or June, according to the CME FedWatch Tool.
Gold acts as a hedge against inflation, but higher interest rates reduce the appeal of holding the bullion.
Spot silver was up 0.3% to $30.2 per ounce and the COMEX contract was trading at $31.17, both near one-month peaks.
"Our view is that the incoming US administration will tailor economic and trade policy to promote national prosperity, and that silver will recover along with gold in the second half (of 2025) to $35 per ounce," Deutsche Bank said in a note.
Platinum shed 0.4% to $955.97 and palladium added 0.9% to $934.16. All three metals were also set for weekly gains.