Overview:
Saudi Arabia's money supply expanded to 886.2 billion dollars by end-September 2026, according to central bank data released today, reflecting steady economic stimulus. Oil prices fell sharply as diplomatic hopes for ending Middle East conflict eased geopolitical risk premiums. Gold and precious metals recovered from prior session losses, while Chinese authorities deployed 15 billion dollars in stock market support measures.
Details:
The Saudi central bank reported money supply (M3) growth of 4.76% year-on-year to September, adding 155.47 billion riyals in the nine-month period. This expansion signals continued liquidity injection into the domestic economy under current monetary policy settings.
Crude oil declined 3.2% to 109.75 dollars per barrel for Brent futures and 3.3% to 100.69 dollars for West Texas Intermediate in early Asian trading. The selloff followed statements by United States Secretary of State Marco Rubio indicating the Trump administration prefers diplomatic resolution of the Iran conflict, reducing energy supply disruption fears.
Gold rose 0.7% to 3,900.90 dollars per ounce as lower oil prices eased inflation concerns. Silver climbed 1.8% to 49.97 dollars per ounce. In real estate, Rasf Development signed a cooperation agreement with Al-Issa, a kitchen and home furnishings company, to deliver integrated finishing packages for residential projects through international brands including IXINA, NOCE, and Klev. NHC reported construction progress at Sidayem development in Jeddah, with superstructure completion at 88%, infrastructure at 82%, and the commercial center at 95%.
Outlook:
Investors await United States jobs data and midterm election results this week to assess Federal Reserve rate trajectory. Goldman Sachs raised Brent price forecasts to 105 dollars per barrel for December 2026 and 88 dollars average for 2027, citing persistent geopolitical risks and potential supply disruptions.