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Gold prices surged on Friday, reaching a fresh all-time high, as various factors such as expectations of a US interest rate cut, speculative buying, and central bank acquisitions sustained the precious metal’s ongoing rally, despite robust job growth in the United States during March.

Securities and Commodities Authority (SCA) of the UAE actively enforced a regulation (pdf) since last Sunday, prohibiting onshore banks from promoting or marketing foreign funds to retail investors. This regulation allows only funds registered with the SCA to be marketed in the UAE to retail investors.