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The Ministry of Commerce and Industry in Kuwait has launched an extensive enforcement campaign targeting the country’s precious metals sector, resulting in the detection of 134 financial violations involving gold shops and jewelry retailers accused of breaching anti-money laundering regulations and technical compliance standards. The aggressive regulatory operation reflects the government’s escalating effort to shield the national economy from illicit financial activity while

Italian authorities have dismantled a sophisticated criminal network accused of trafficking illicit precious metals between the Veneto region and Austria after a large-scale enforcement operation led by the Finance Police of Verona and Vicenza resulted in the seizure of €1.3 million in assets, including high-purity gold, luxury property, vehicles and large quantities of cash. The operation culminated in the arrest of two Italian nationals from Vicenza who are now facing ser

Detectives in Nairobi have apprehended a second individual in connection with a multi-million shilling gold fraud scheme that allegedly swindled an American citizen out of USD 217,900. The suspect, Mohammed Noor Muhyadhin Mohammed, was arrested by officers from the Operation Support Unit on allegations of money laundering linked to a fraudulent gold transaction that had promised the delivery of 495 kilograms of gold but ultimately produced nothing. Authorities say the elabora

Gold prices jumped more than 5 per cent on Tuesday, putting the metal on pace for its strongest single-day performance since November 2008, while silver also rallied sharply as precious metals rebounded from their steepest two-day decline in decades. Market analysts say the recovery may have further to run, with expectations that both metals could reach new record highs later this year. Spot gold rose 5.8 per cent to $4,935.56 an ounce by 0818 GMT. The move followed a sharp s

Gold climbed to a new all-time high on Wednesday, while global equity markets retreated, as investors reacted to escalating geopolitical tensions and awaited the arrival of US President Donald Trump at the World Economic Forum in Davos. Precious metals advanced, stocks weakened, and concerns over the US dollar resurfaced amid a deepening dispute between the United States and the European Union over Greenland. The price of gold surged past $4,800 per ounce, marking another

Gold prices remained largely unchanged on Friday, with stronger U.S. Treasury yields countering the support typically provided by a softer dollar, while market participants looked ahead to key inflation data that could shape expectations for the Federal Reserve’s next policy moves. As of 0524 GMT, spot gold was steady at $4,215.92 per ounce, positioning the metal for a 0.3% weekly decline. U.S. gold futures for December delivery inched 0.1% higher to $4,245.70 per ounce.