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ChainCatcher News, the spot gold price remains above the $4,100 mark due to signs of weakness in the US labor market and Congress nearing the end of a government shutdown. New private sector data shows that US companies averaged 11,250 layoffs per week in the four weeks ending late October, reinforcing expectations for further interest rate cuts this year. Meanwhile, Soojin Kim, an analyst at Mitsubishi UFJ Financial Group, stated: "The government is about to reopen, and it is expected that access to official economic data will resume, providing clarity for future monetary policy decisions." Supported by central bank purchases and its appeal as a hedge against global uncertainty, the precious metal has maintained a 56% increase this year. (Golden Ten Data) Risk Warning

ChainCatcher News, the UAE Ministry of Finance and the Dubai Department of Finance have announced the completion of the first transaction in the Digital Dirham central bank digital currency (CBDC) pilot phase, marking the first major milestone since the project was launched. This transaction was executed through the government payment platform mBridge, signifying a key step for the UAE in applying the national digital currency to both government and private sector operations. Ahmed Ali Meftah, Executive Director of Central Accounting at the Dubai Department of Finance, stated that this transaction aimed to test the technical integration and operational readiness of the central bank system. The entire process took less than two minutes, demonstrating the potential of the Digital Dirham to improve settlement efficiency and shorten intergovernmental payment cycles. According to a policy document released by the UAE Central Bank in July, the issuance of the Digital Dirham will be carried out in phases, initially limited to payment purposes to avoid competition with savings or interest-bearing products. The project is regarded as an important initiative by the UAE Central Bank to address the evolution of the monetary system in the digital economy era. According to statistics from the Atlantic Council, currently only Nigeria, the Bahamas, and Jamaica have officially issued CBDCs, while another 49 countries are in the pilot phase.