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Gold prices fall amid easing geopolitical tensions, outlook

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KUWAIT: Gold prices recorded a sharp decline last week, with the price of an ounce dropping to USD 3,274, reflecting a daily loss of more than 1.5 percent, according to a report issued Sunday by Dar Al-Sabaik Company. The drop was attributed to a decline in geopolitical tensions and signs of improvement in global trade activity. A specialist at Dar Al-Sabaik explained that the retreat in gold prices was largely driven by easing concerns in the Middle East, notably the reduced tension between the Zionist entity and Iran. Media reports indicating a potential end to the conflict in Gaza within two weeks further contributed to the decline in demand for gold as a safe-haven asset.

The report noted that progress in the global trade arena also weighed on gold prices. A formal agreement was recently signed between the United States and China to resolve ongoing trade disputes, with additional agreements expected before July 9, potentially involving countries such as South Korea, Vietnam, and members of the European Union. Under the agreement, China will expedite shipments of rare metals, while the US will lift certain retaliatory trade measures – a move that has bolstered confidence in global trade recovery.

In addition, recent US economic data showed the core personal consumption expenditures (PCE) index rose to 2.7 percent in May, surpassing market expectations. Meanwhile, the overall inflation rate held steady at 2.3 percent, reinforcing expectations of a potential interest rate cut by the US Federal Reserve in September. The report further highlighted a rise in consumer confidence as measured by the University of Michigan index, along with declining inflation expectations among US households. These factors boosted equity markets, with the Nasdaq and S&P indices hitting record highs. Similarly, Asian markets reached their highest levels in more than three years. Despite a decline in the US dollar index and steady bond yields, gold failed to capitalize on the positive indicators, showing signs of temporary weakness as a hedge against market volatility. — KUNA

Dar Al-Sabaik’s report suggested that unless new factors emerge to support gold’s upward trajectory, the market may witness a deeper price correction amid ongoing uncertainty. Global markets are now closely watching key developments, including the conclusion of US trade negotiations before the July 9 deadline for customs tariffs, and the upcoming European Central Bank forum. Federal Reserve Chair Jerome Powell and several central bank governors are expected to speak on the future of monetary policy.

Markets are also anticipating a series of economic reports this week, including US job data, inflation figures in the Euro-zone, and activity indicators from China, Germany, Japan, and Australia. On the domestic front, the report stated that the price of 24-karat gold stood at KD 32.32 (approximately USD 99) per gram, while 22-karat gold was priced at KD 29.62 (around USD 91). The price of silver reached KD 402 per kilogram (about USD 1,313). The ounce—commonly used in precious metal markets—is equal to 31.103 grams. — KUNA

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410 students benefit from Educational Care Bank project

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KUWAIT: Al-Safa Charitable Society announced that 410 students across various educational stages have benefited from the Educational Care Bank project for the 2024-2025 academic year. The initiative, implemented in collaboration with the General Secretariat of Endowments, provided a total of KD 100,000 (approximately $330,000) in educational support within Kuwait. Chairman of Al-Safa’s Board of Directors Mohammad Al-Shaya said in a press statement on Monday that the project reflects a shared commitment to supporting future generations by creating an educational environment free from financial obstacles. He emphasized that the initiative also aims to alleviate the financial burden faced by low-income families amid ongoing economic challenges.

Al-Shaya praised the General Secretariat of Endowments for its continued sponsorship of impactful and innovative projects that serve the community, particularly those focused on education. He noted that the Secretariat’s support for this program underscores its strong belief in education as a cornerstone for societal advancement and sustainable development. He added that Al-Safa Charitable Society, through this partnership, seeks to nurture a knowledgeable and responsible generation capable of contributing meaningfully to national development. The project, he explained, targets students who face difficulty in paying tuition fees, reaffirming the association’s belief in the right to education for all—without discrimination or financial barriers. — KUNA

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97,000 reverts and counting: IPC’s role in spreading Islam

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KUWAIT: Although it has been three months since the end of Ramadan, Islamic da’wah in Kuwait is far from limited to the holy month. Through organizations like the Islam Presentation Committee (IPC) — one of the country’s largest and oldest da’wah institutions — outreach efforts continue year-round. Since its founding in 1987, IPC has helped more than 97,000 people embrace Islam, including 2,702 in the past year alone. With over 3.4 million expatriates living in Kuwait — many from diverse religious backgrounds — the country often becomes more than just a place of work.

For many, it becomes the first space where they encounter Islam in a meaningful way. IPC’s efforts extend beyond traditional settings like mosques and religious centers. Thanks to the organization’s efforts, this Ramadan Kuwait did experience a significant increase in conversions to Islam, marking the highest number of conversions in the past seven years. Approximately 730 individuals from various nationalities embraced Islam by the 29th day of Ramadan.

This achievement is attributed to the efforts of 78 male and female preachers and the success of the “Change Their Lives” campaign, which included lectures and the distribution of preaching materials across the country. Much of IPC’s outreach focuses on laborers and domestic workers, meeting them in everyday environments such as markets, salons, workplaces, hospitals, farms, labor inspection offices, and even deportation centers.

Following initial outreach, new reverts begin a structured learning journey starting with a “Basic Islam” course that covers essential beliefs and practices. As they progress, students can enroll in advanced courses on Quranic interpretation, Tajweed, Islamic jurisprudence, Prophetic biography, and Islamic history — all offered free of charge.

Available in 14 languages

Arabic language classes are also available for non-native speakers, including non-Muslims who wish to understand Islamic texts or culture. IPC also supports lifelong Muslims, recognizing that many — especially those from non-Arabic-speaking countries — may never have had the chance to study Islam formally. “We don’t just teach the students — we create a community for them,” said Haya Alawadhi, head of IPC’s Salmiya branch. “A good circle of friends, emotional support from teachers and staff, and even financial assistance when needed.”

Many new Muslims face personal challenges — including separation from family and friends. IPC responds by fostering a family-like environment where instructors and fellow students offer compassion, inclusion and support. After carefully assessing individual needs, IPC also provides financial aid and job placement assistance to ease the transition. With lectures and materials available in 14 languages, the organization ensures accessibility for newcomers of all backgrounds. In 2024 alone, the committee recorded 8,455 students from 39 nationalities enrolled in its programs.

“We don’t call each other by titles”

“We don’t call each other by titles,” Alawadhi added. “We say ‘sister’ and ‘brother.’ You might find an American sitting next to an Asian or a European, and everyone is treated the same. If someone walks in with bias, it fades once they become part of this place.” To further its reach, IPC has expanded into digital outreach, offering social media campaigns, interactive online lectures, and Islamic content to engage younger audiences and remote learners.

IPC’s da’wah efforts are not limited to blue-collar communities. The organization also engages diplomats, professionals, and high-profile guests, presenting them with traditional Kuwaiti gift boxes that include a translated Quran, a tourism brochure, and Islamic educational materials. In 2024 alone, IPC organized around 881 training courses. Alawadhi also shared that IPC trains new Muslims to become future Islamic educators and preachers. “Some of our most active preachers today were once IPC students who converted to Islam,” she added. IPC runs around 14 branches and centers that are spread across Kuwait’s governorates.

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Oil Ministry highlights nuclear radiation risks, underscores preventive measures

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KUWAIT: The Ministry of Oil affirmed that nuclear radiation remains one of the most serious health and environmental challenges of the modern era, emphasizing Kuwait’s strong commitment to addressing this issue through an integrated regulatory framework, well-structured emergency plans, and advanced scientific monitoring networks covering various regions of the country. These efforts aim to ensure the highest standards of environmental and public health safety.

This statement was made by Sheikha Tamader Khaled Al-Ahmad Al-Sabah, Director of Public Relations and Media at the Ministry of Oil, during a health awareness seminar held Monday under the title “Risks and Damages Resulting from Nuclear Reactors and Their Impact on Human Health.” The seminar is part of the ministry’s ongoing initiative to raise community awareness and promote a culture of prevention among oil sector employees.

Sheikha Tamader lauded the efforts of governmental and technical agencies in enhancing public understanding of nuclear radiation dangers and preventive measures. She highlighted the role of such scientific forums in fostering a sustainable preventive culture across both public and private sectors. She added that the Ministry of Oil, in collaboration with relevant authorities, is actively conducting educational programs and specialized workshops to raise awareness about nuclear reactor risks and radiation leakage, while developing national infrastructure for preparedness and response to radiological and nuclear emergencies.

She stressed that prevention begins with awareness, and investing in education, training, and readiness is key to protecting people and the environment. She called for continued support of scientific and awareness initiatives and the strengthening of institutional cooperation among state ministries and regulatory bodies to guarantee community safety and environmental sustainability. In a related address, Salem Al-Azmi, Head of Radiology at the Radiation Protection Department of the Ministry of Health, reviewed the health risks associated with nuclear reactors, their operating mechanisms, and the preventive measures adopted locally and internationally.

Al-Azmi explained that nuclear reactors are among the world’s most important sources of energy due to their ability to generate large amounts of electricity efficiently, but they carry serious health and environmental risks if not managed under strict controls. He described nuclear reactors as power plants that produce electricity through nuclear fission — a process where an atom’s nucleus splits into smaller nuclei, releasing thermal energy that heats a coolant, usually water, to create steam. The steam then drives turbines connected to electric generators.

He noted that while nuclear power plants operate similarly to conventional power plants that burn coal, oil, or natural gas, the primary heat source in nuclear plants is atomic fission. He pointed out that nuclear energy has comparatively low environmental impact on Earth and natural resources.

Al-Azmi outlined the potential environmental hazards in the event of a radioactive leak, such as contamination of air, water, and soil with substances like cesium-137 and iodine-131. However, he reassured that these materials naturally degrade over time and that effective environmental rehabilitation and mitigation plans are in place. He highlighted that potential effects on wildlife and agriculture, including temporary declines in crop and animal quality, can be managed and mitigated through safety protocols and environmental restoration.

Regarding preventive actions, Al-Azmi advised sheltering indoors in well-sealed spaces, which can reduce radiation exposure by half, using closed basements or airtight shelters, and wearing protective masks for the nose and mouth. He also presented information on Iran’s Bushehr nuclear reactor, noting that it is solely dedicated to electricity generation with a capacity of 1,000 megawatts. The reactor operates under full international supervision, is non-military, does not produce nuclear weapons, and is located approximately 280 kilometers east of Kuwait. — KUNA

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