Gold prices edged higher on Thursday as a softer U.S. dollar supported bullion before fresh U.S. inflation data. Spot gold rose 0.3% to $4,414.28 an ounce by 0419 GMT. U.S. gold futures for December delivery slipped 0.1% to $4,457.20. The early gain kept spot gold above $4,400 after a sharp reversal during Wednesday’s trading. Gold had initially moved lower before finishing that session more than 1% higher.

Egypt’s net international reserves rose to a record $57.2145 billion at the end of August 2026. Reserves stood at $56.2939 billion at the end of July. That means the total increased by about $920.6 million during August, or roughly 1.6%. The latest reading extends a series of monthly gains in 2026 and takes Egypt’s official foreign reserves above $57 billion for the first time.

The Panama Canal may reduce daily ship traffic to about 29 vessels in February or March 2027 if drought conditions continue, its new administrator said. Ilya Espino de Marotta took office on Sept. 7 and raised the possibility as El Niño pressures reservoir levels. The canal needs freshwater from rainfall-fed lakes to operate its locks. The Panama Canal Authority has already begun staged capacity cuts after below-expected precipitation across the watershed.

Under the joint ownership framework, Tel Aviv-based investment firm Aurelius Capital will assume a majority equity stake in the facility, while the state government of Lower Saxony, Volkswagen’s second-largest shareholder, will hold a minority interest. The initial anchor project for the repurposed site involves a manufacturing partnership with state-owned Israeli defense contractor Rafael Advanced Defense Systems. Operational plans focus on the domestic fabrication of specialized systems and mechanical components for air defense infrastructure intended for procurement by Germany and European allied nations.

The ministerial summit, running from September 8 to 11, operates under the theme of leveraging artificial intelligence and communications networks for African structural transformation. South Korean Prime Minister Han Seong-sook is scheduled to deliver opening addresses alongside leadership delegations from the African Development Bank Group. Delegations will focus on combining South Korean technological manufacturing expertise with African human capital and critical mineral reserves. Korea Africa chart new course AI digital infrastructure strategies as continental planners seek to bridge an estimated $400 billion annual development financing deficit.

South Korea’s consumer prices rose 3.1% in August from a year earlier, official data showed. The increase accelerated from 2.8% in July and returned headline inflation above 3%. Fuel costs remained a major source of price pressure during the month. Petroleum product prices climbed 14.2% from a year earlier, though the increase slowed from July. Diesel prices jumped 19.6%, while gasoline prices rose 11.5%. Mobile phone service charges also recorded a sharp annual increase. Mobile service prices rose 26.7% from August 2025, reflecting an unusually low comparison base. Core consumer prices, excluding food and energy, rose 3.4% from a year earlier. Industrial product prices rose 3.7% from a year earlier in August. Agricultural, livestock and fishery product prices moved in the opposite direction, falling 2.6% from a year earlier.