Goldman Sachs says its end-2026 gold price forecast of $4,900/oz carries net upside risk but expects greater two-way volatility en route.

During a state visit to Germany this week the UAE announced plans to invest €40 billion ($46.4 billion) to deepen economic ties, targeting AI, digital infrastructure and energy, and signaling closer defense cooperation. The package includes roughly 1 GW of additional data center capacity and about €10 billion earmarked for Bavaria. Officials said the move is part of the UAE’s effort to diversify overseas investment away from oil.

Brent crude futures settled at $104.61 per barrel, down $3.02, or 2.81%.