Evest uplifts spirits at Al Jalila Children’s Hospital

In a heartwarming gesture of community support, Evest organized an initiative to bring joy to the young patients at Al Jalila Children’s Hospital. This effort aimed to uplift children grappling with health challenges by giving them thoughtful gifts designed to brighten their spirits.

The event was filled with warmth and laughter as Evest’s team interacted with the children, creating memorable moments of joy. Each carefully chosen gift served as a token of kindness and a source of hope and encouragement, reminding these brave young fighters and their families that they are not alone. The gifts, from toys to arts and crafts supplies, were selected to inspire creativity and provide comfort during difficult times.

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Video: what you need to know about online trading

Are you venturing into online trading?
Ali Hasan, CEO of Evest, discusses 2021’s big moment for online trading, how you can get involved and the importance of educating yourself before taking the plunge

The start of 2021 has certainly been an interesting moment for online trading. Non-professional investors made global headlines when they started buying up shares in video game retailer Gamestop this month, with a campaign on Reddit making global headlines and creating unprecedented awareness of terms such as short selling. This followed a bumper year for the online trading space, as millions of people worldwide sought to diversify their income streams during the pandemic.

Here, Ali Hasan, CEO of online trading platform Evest, talks about building a passive income, how to assess the credibility of various platforms, and where he sees his own going in two years.

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Evest’s participation at Crypto Expo Dubai 2023 will highlight women’s engagement in digital investments:

With the Crypto Expo Dubai 2023 coinciding with the celebrations of International Women’s Day in March, the leading digital platform for trading wants to empower women with knowledge in investments and trading

What factors contributed to the rise in gold prices?

A number of factors contributed to the golden gains for the yellow metal during the current year, including the spread of interest rate-cutting fever in many central banks, as the Federal Reserve cut interest rates by three-quarters of a percentage point for the first time since the pandemic, the European Central Bank cut interest rates three times during the year, and the Bank of England cut interest rates during 2024 by about 50 basis points. 

Geopolitical tensions in the Middle East have also fueled gold prices as a safe haven in times of economic uncertainty, and increased demand from central banks.

Read also: Gold prices rise by more than 1% as the dollar weakens and US interest rates are cut

Ahmed Osama, chief economic analyst at Evest, told CNBC Arabia: “Gold has seen increases of more than 54% during the last 12 months, witnessing one of the biggest historical upward waves, noting that there are several reasons supporting these increases. Gold has become one of the most important safe havens in the markets during the recent period, as a result of central banks’ trend since the beginning of the year to try to move towards an easing policy by reducing interest rates, which was not an easy matter for major banks, which prompted investors to resort to buying gold strongly.”

 

Osama said that lowering interest rates puts pressure on currencies and makes gold and stock markets more attractive to investors. This has pushed gold to record highs, especially after the Federal Reserve cut interest rates by 50 basis points for the first time in four years last September. 

Gold purchases by major central banks, particularly China, have contributed to increased demand and a significant rise in prices. Although central bank purchases have recently slowed, markets believe this pause is only temporary, and demand for gold is likely to rebound if interest rates continue to fall, financial crises in some countries escalate, and global geopolitical tensions intensify, according to Osama.