Overview:
The General Authority for Transport approved an executive regulation for autonomous passenger vehicle services, creating an integrated regulatory framework to support modern transportation technologies. Concurrently, gold prices recorded a 0.9% gain to reach 4,095.49 dollars per ounce, approaching two-week highs as the dollar weakened and U.S. Treasury bond yields fell. Oil prices rose 3.98% for Brent crude to 98.39 dollars per barrel following steep prior declines linked to shifting geopolitical risk assessments.
Details:
The transport authority's approval of the autonomous vehicle regulation establishes requirements for licensing and operations, along with service provider responsibilities and technical specifications. The framework aims to enable modern technologies in the transport sector, create an investment-friendly environment, and support innovation in smart mobility services aligned with the National Transport and Logistics Strategy.
Gold trading reflected currency dynamics and bond market shifts. Spot gold moved up 0.9% to 4,095.49 dollars per ounce, with intraday highs reaching 4,146.63 dollars—the strongest level since October 20. Silver fell 0.5% to 51.95 dollars per ounce, while platinum gained 1.8% to 1,523.33 dollars and palladium rose 3.6% to 1,040.75 dollars.
Oil markets reversed sharp declines after U.S. midterm election results shifted geopolitical expectations. Brent crude futures for January delivery climbed 2.78 dollars to 98.39 dollars per barrel, and West Texas Intermediate rose 2.77 dollars to 90.89 dollars per barrel, as traders purchased at reduced price levels.
Outlook:
Investors are assessing how autonomous vehicle regulations will affect transport sector competition and venture capital flows into mobility startups. Commodity markets remain sensitive to U.S. monetary policy signals and Middle Eastern supply dynamics, particularly developments affecting Strait of Hormuz shipping and Iranian nuclear negotiations.