Gold prices in both global and local markets remained stable on Friday, although per tola rates continued to hover at record highs. In the international bullion market, the price of gold per ounce held steady at $3,865 with no change. Similarly, in local bullion markets, the price of gold per tola stayed unchanged at Rs407,778. In line with the global movement, domestic prices followed suit, with gold per 10 grams remaining stable at Rs349,603. Meanwhile, spot gold inched up 0.03% to $3,857.25 per ounce after hitting a record high of $3,896.49 on Thursday. The bullion has gained 2.6% so far this week. Among other precious metals, spot silver climbed 0.6% to $47.24 per ounce, platinum rose 0.5% to $1,576.25, and palladium gained 1.4% to $1,258. 25.
In July 2024, Dubai’s Jebel Ali Port set a new record by handling 1.4 million TEUs (twenty-foot equivalent units), surpassing its previous record set in July 2015. This milestone highlights the port’s ongoing importance in global trade and reflects a 3.9% year-on-year increase in container volumes for the first half of the year, totaling 7.3 million TEUs. The growth in container volumes is largely driven by robust inbound cargo movements, particularly from key Asian markets such as China, Japan, and South Korea. This achievement is a testament to the strategic investments made by DP World, which operates the port, in technology, infrastructure, and the utilization of its global network. Jebel Ali Port’s success also supports Dubai’s broader economic goals under the Dubai Economic Agenda D33, further solidifying the city’s status as a leading global trade hub. The port’s growth is closely tied to the expansion of the Jebel Ali Free Zone (Jafza), which now hosts nearly 10,500 compa...