Gold prices rise after a sharp loss, supported by softer US inflation and the US-China tariff deal.

NEW YORK, May 14: Gold prices rebounded on Tuesday, driven by bargain-hunting after a sharp loss the previous day, with softer-than-expected inflation data from the U.S. providing additional support.

As of 1357 ET (17:57 GMT), spot gold rose 0.4% to $3,246.95 per ounce, recovering from a low of $3,207.30 on Monday. U.S. gold futures also settled 0.6% higher at $3,247.8.

Bart Melek, head of commodity strategies at TD Securities, commented on the price movement: “We had a big correction in gold on Monday following the news of a deal between the U.S. and China. However, with tariffs on China still at 30%, this remains negative for the economy.”

The U.S. and China announced a 90-day pause on tariffs on Monday. As part of this agreement, the U.S. agreed to reduce tariffs on Chinese imports from 145% to 30%, while China pledged to lower duties on U.S. imports from 125% to 10%.

Gold prices had surged to multiple record highs in 2025, driven by concerns over economic slowdowns following U.S. President Donald Trump’s sweeping tariffs, strong central bank buying, geopolitical tensions, and increased investment in gold-backed exchange-traded funds.

In other news, the U.S. Consumer Price Index (CPI) increased by 0.2% last month, according to the Bureau of Labor Statistics. Economists had forecast a 0.3% rise.

Jim Wyckoff, senior analyst at Kitco Metals, pointed out that the inflation report “leans slightly favorable for the precious metals markets because it does not pose a problematic inflation scenario that would deter the Federal Reserve from cutting interest rates.”

Markets expect the Federal Reserve to resume its policy easing in September, which typically makes non-yielding assets like gold more attractive.

Other precious metals saw gains as well, with spot silver rising nearly 1% to $32.89 an ounce, platinum climbing 1.4% to $985.92, and palladium gaining 1% to $955.15.

KCCI team meets the delegation from Maldives

KUWAIT CITY, May 13: Kuwait Chamber of Commerce and Industry (KCCI) received a delegation from the Republic of Maldives, led by the Minister of Foreign Affairs Dr. Abdulla Khalil on Tuesday, May 13 in the presence of several Kuwaiti business owners. According to a press release issued by KCCI, the meeting began with KCCI expressing its appreciation for the delegation’s visit, as it underscores the growing ties between Kuwait and the Maldives, founded on friendship, mutual respect, and shared aspirations for economic and cultural cooperation. It explained that the trade relations between the two countries have significantly strengthened over the past decade, with a notable increase in Kuwaiti exports to the Maldives.

The partnership between the two countries is further strengthened by their distinct strengths, particularly the excellence of Maldivian companies in the tourism and maritime industries, which attract the interest of Kuwaiti investors. At the same time, Kuwaiti companies excel in sectors such as finance, logistics, healthcare, and energy, providing a solid foundation for productive cooperation and investment. Meanwhile, Maldives Foreign Minister Dr. Abdulla Khalil outlined the most prominent investment opportunities available in his country, mainly in sectors such as tourism, investment, alternative energy, logistics, ports, housing cities, agriculture, and fisheries.

Kuwait’s Acting Prime Minister during the signing of MoUs between Kuwait and Hong Kong.

Kuwait Acting Prime Minister Sheikh Fahad Yousef Saud Al-Sabah on Tuesday held official round table discussions with Chief Executive of the Hong Kong Special Administrative Region John Lee Ka-chiu at Bayan Palace. During the session, they reviewed the bilateral ties and ways to boost them, in addition to exchanging visions and opinions on regional and international issues of common interest. Following the official talks, the two sides signed a Memorandum of Understanding in direct investment promotion, inked on the Kuwaiti side by Director General of Kuwait Direct Investment Promotion Authority Sheikh Dr. Meshal Jaber Al-Ahmad Al-Sabah and on behalf of the Government of Hong Kong the Acting Assistant Director General for Investment Promotion Loretta Lee. The two sides also signed a Memorandum of Understanding in the field of direct investment promotion between Kuwait Direct Investment Promotion Authority and the Hong Kong Trade Development Council (HKTDC).

The MoU was signed on the Kuwaiti side by Director General of Kuwait Direct Investment Promotion Authority Sheikh Dr. Meshal Jaber Al-Ahmad Al-Sabah and on behalf of the Government of Hong Kong by Executive Director of the HKTDC Margaret Fong. The meeting was attended by senior Kuwaiti officials including Minister of Foreign Affairs, Minister of Public Works and Minister of Commerce and Industry. The Acting Prime Minister hosted an official luncheon in honor of the Chief Executive of the Hong Kong Special Administrative Region and his accompanying delegation. (KUNA)