???? Gold’s Worst Week in 3 Months!

Hala,

At the 97th Academy Awards, Anora took home five Oscars, including Best Picture, while Adrien Brody earned his second Best Actor trophy. ???? Meanwhile, Mikey Madison won Best Actress, and Kieran Culkin’s supporting role had him taking home a golden statue—clearly, he’s not just “Culkin” around! (1) ????

• The U.S. government is expanding its crypto reserve, now holding XRP, Solana (SOL), and Cardano (ADA) alongside Bitcoin (BTC) and Ether (ETH). That’s a sharp pivot from President Donald Trump’s Bitcoin-maxi stance at the Bitcoin 2024 conference, where he pushed for a BTC-only stockpile. The shift follows his Jan. 23 executive order, tasking regulators with assessing a national crypto reserve and stablecoin framework—while slamming the door on any CBDC research.
• The policy shift hasn’t gone unnoticed. Bitcoin purists, who expected a BTC-exclusive play, are now crying foul. The move signals a broader embrace of digital assets, but it also raises regulatory uncertainty as the administration navigates a crypto policy balancing act. With the White House crypto summit set for March 7, expect more fireworks as lawmakers and market players weigh in.
• Institutional investors are watching closely. With regulatory clarity still up in the air, crypto markets could see fresh volatility, as big players reconsider their exposure to Bitcoin versus alternative assets. Will the White House’s new stance fuel an altcoin rally or just add to the chaos? Traders will be watching every headline.

Stock Market Update

???? Wall Street wobbled on Friday when U.S. President Donald Trump and Ukraine President Volodymyr Zelenskyy’s Oval Office showdown sparked geopolitical jitters—but the markets shook it off like a champ. The S&P 500 rose 1.59% to 5,954.50, the Dow climbed 1.39% to 43,840.91, and the Nasdaq 100 advanced 1.62% to 20,884.41.(2) Seems like the market found its footing in time for the weekend. ????

????? Meanwhile, UAE markets hit turbulence as oil slipped and tariff worries took off. Abu Dhabi fell 0.5% to 9,565, while Dubai shed 0.8% to 5,318.(3) ???

???? GoldTakes a Tumble!

Once a mighty oak standing tall in the financial forest, gold has shed its luster in a surprise late-winter storm. With strong winds of a rising dollar shaking its branches and profit-taking knocking off its golden leaves, the once-dazzling bullion now finds itself dulled. Investors, ever the cautious squirrels, are bracing for what’s ahead as inflation data and Fed expectations swirl in the breeze.(4) ????

???? Golden Nuggets (or Not-So-Golden?)

• Price Plunge: Spot gold slipped 1% to $2,846.96 an ounce, marking its worst week since November.
• Dollar Drama: A strong U.S. dollar index left gold gasping for air, making it pricier for overseas buyers.
• Fed Forecasts: Investors betting on rate cuts in June saw little shake-up from the latest inflation data.
• Silver, Platinum, and Palladium Slip: Spot silver fell 0.6% to $31.1, platinum lost 1.0% to $938.95, and palladium slipped 0.2% to $917.60, with all three metals on track for monthly declines.
• Trump Tariff Tensions: New trade tariffs set for March 4th, but gold’s safe-haven status couldn’t prevent the fall. ????

???? Will Gold Get Its Groove Back?

Gold’s been knocked off its pedestal, but will it rise again like a phoenix or remain a fallen relic for a while? With the Fed playing it cool and the dollar flexing its muscles, the road ahead looks uncertain. But if history’s taught us anything, it’s that gold never stays down for long. Keep your eyes on the market—this show isn’t over yet! ???

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Closer to Home?

• ?? Saudi Arabia’s GDP floored it, jumping 4.4% YoY in Q4 2024—its fastest sprint in two years! A 4.6% non-oil surge and a 3.4% oil boost kept the engine roaring.(5) No brakes, just gains! ??
• ?? SC Ventures Standard Chartered’s innovation, fintech investment and ventures arm, and Visa are joining forces to develop solutions that fuel SME growth across MENA.(6) Smarter tools, bigger growth. ??
• ??? Dubai’s Parkin cashed in on a growing city, posting a 13% YoY profit jump in Q4 2024 to AED120M ($32.7M)! With 206K+ spaces and a new variable pricing model rolling out in April, parking just got a little more interesting.(7) ??

What Else Is Trending

• U.S. consumer spending hit its first red light in two years, dropping 0.2% in January from the upwardly revised 0.8% increase in December, while the trade deficit ballooned as businesses rushed to dodge tariffs.(8) Talk about a plot twist.
• ?? China’s Honor is going all-in on AI, pledging $10B to level up from smartphone maker to AI powerhouse! With a deeper Google partnership, it’s playing in the big leagues—Apple and Samsung, take note.(9) ??
• ??? Meanwhile, oil prices slipped on Friday, marking its first monthly drop since November—as U.S. tariffs, and Iraq’s exports stirred the pot. Brent slid 1.16% to $73.18, and WTI dipped 0.84% to $69.76.(10) ?

??Quote of the Day

“Everything has its limit – iron ore cannot be educated into gold.” – Mark Twain, American writer and humorist

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amana.app

Sources:(1) Idaho News 6, (2) (4) (9) (10) CNBC, (3) (5) (7) Zawya, (6) Economy Middle East, (8) Reuters