India gold demand to revive in second half

Indian jewelry demand would also rise as there are more days considered lucky for weddings in the second half. (Reuters)
Updated 02 August 2018
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India gold demand to revive in second half

  • Higher demand from the world’s second-biggest gold consumer could support global prices
  • Despite the fall, the WGC maintained a 2018 demand estimate of between 700 and 800 tons versus 763.4 tons last year

MUMBAI: Indian gold demand is set to improve in the second half of 2018, after falling 6 percent in the first half, as government steps to boost farmers’ incomes are expected to lift rural buying power, the World Gold Council (WGC) said on Thursday.
Higher demand from the world’s second-biggest gold consumer could support global prices that are trading near their lowest in a year, although a rise in imports of the precious metal would widen India’s trade deficit.
A hike in crop prices and farm loan waivers would improve rural demand in the second half of the year, Somasundaram PR, managing director of WGC’s Indian operations, told Reuters.
Two-thirds of India’s gold demand comes from rural areas, where jewelry is a traditional store of wealth.
India last month raised the government-mandated price for summer-sown crops such as rice and cotton by the most since Prime Minister Narendra Modi came to power in 2014, a move that analysts said was aimed at wooing millions of poor farmers ahead of a general election next year.
In the April-June quarter, Indian gold demand fell 8 percent from a year ago to 187.2 tons, hit by a rally in local prices due to a depreciating rupee, the WGC said in a report published on Thursday.
Despite the fall, the WGC maintained a 2018 demand estimate of between 700 and 800 tons versus 763.4 tons last year.
“If the monsoon delivers lower rainfall then we may end at the lower end of the range,” Somasundaram said.
India’s demand has averaged 840 tons a year over the last decade.
India is likely to receive below-normal monsoon rains this year, a weather forecaster said on Wednesday, raising concerns over farm output and economic growth in Asia’s third-biggest economy, where half the farmland lacks irrigation.
Investment gold demand fell 9 percent in the first half of 2018 from a year ago to 71.6 tons as the stock market was giving better returns than bullion, WGC said.
In the second half also, investment demand will remain under pressure as a rise in interest rates makes bank deposits attractive for some investors, Somasundaram said.
The Reserve Bank of India raised interest rates for its second straight meeting on Wednesday.
Jewelry demand would also rise as there are more days considered lucky for weddings in the second half, Somasundaram said. Gold is an essential part of a bride’s dowry in India and a popular gift from family and guests at weddings.
Spot gold was holding near $1,220 an ounce on Thursday, not far off a one-year low hit in mid-July at $1,211.08.


Saudi youth turn to AI for art and culture

Updated 11 sec ago
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Saudi youth turn to AI for art and culture

  • Creativity, heritage and technology converge in a new generation of artists

RIYADH: As Saudi Arabia’s Vision 2030 places creativity, culture and technological innovation at the core of national development, the impact of these priorities is becoming increasingly visible across a wide range of disciplines and practices.

Through the use of artificial intelligence, young Saudis are integrating technology into their creative work both as a practical tool and as a medium in its own right. In doing so, they are expanding their capabilities, exploring personal and collective identity, and finding new ways to preserve and reinterpret cultural heritage.

“AI gives young Saudis a new way to interact with their own cultural inheritance,” said Dmitry Zaytsev, founder of Dandelion Civilization, a platform designed to help individuals shape unique professional paths.

“Traditional design elements such as calligraphy or geometric motifs were once difficult to modify. Experimentation required resources and formal approval. AI removes that barrier and makes exploration immediate. A creator can test many versions of a pattern and see which ones still feel authentic to them,” he told Arab News.

According to Zaytsev, this emerging form of expression does not signal a rejection of tradition, but rather a deeper engagement with it. “The young creator discovers what can change and what must remain constant. AI becomes a sketchbook that allows culture to evolve through curiosity rather than fear. When creators correct a model or push it toward local rhythm, they strengthen rather than dilute cultural identity,” he explained.

Sarah AlBaiz, an art adviser, researcher and artist, uses code to blend visual art with concepts drawn from culture and philosophy. While her early practice focused primarily on painting, her trajectory shifted during the 2020 AI Artathon, a pioneering international event highlighting collaboration between humans and machines in artmaking, where she discovered how to merge her engineering background with her creative work.

DID YOU KNOW?

• Saudi youth are using AI as a creative tool to reinterpret heritage, from calligraphy to folklore.

• AI is helping artists experiment faster without the traditional barriers of resources or formal approval.

• The Kingdom is backing creative AI nationally, with programs like SAMAI aiming to empower 1 million Saudis for an AI-driven future.

Operating within the field of computational creativity, where technology actively participates in the artistic process, AlBaiz explores themes of finance and faith. “Because they’re two sides of who I am,” she said. “When you talk about values, for example, that is both a term used in finance and trade from an objective perspective, but also moral and spiritual value.”

“When you understand prompting in AI, you can get it to produce almost anything. But it’s also informed by the training data it has,” she said.

Sarah Albaiz's "Diriyah II (2020)" melds a traditional Saudi landmark with the avant-garde. This generative artwork rejuvenates the historic Alsalwa Palace in Diriyah. By infusing Munira AlTheeb's artistry through GAN style transfer, the piece stands as a testament to the evolving narrative of Saudi heritage. (Supplied)ed2edde

Rather than relying on a single platform, AlBaiz experiments with multiple AI models to test their limitations and audience reception. “I work a lot with language as well, so large language models are right up my street when it comes to computational creativity.”ee

Her work has gained international recognition. At the 2022 Islamic Arts Biennale in Jeddah, she co-created an artwork under the banner of Super Artistic AI that generated Al-Qatt Al-Asiri motifs from southern Saudi Arabia. The piece received an Audience Award.

Beyond her artistic practice, AlBaiz is developing an intelligent art advisory system aimed at helping users navigate the Saudi art landscape. Designed as an initial point of contact, the system would guide users through potential pathways before they engage with a human adviser.

Inverting established gender norms, Sarah Albaiz's digital collage reimagines masculinity. Set against a generative backdrop, its core message "real men cry" challenges familial WhatsApp discourses. (Supplied)

“It’s about understanding what role AI plays in the pursuit of what you want,” she said. “When I decided to focus on Qantara and building the advisory, I recognized that many of the systems required would need to be intelligent systems that offload a lot of work from me and the team.”

“When AI is an enabler rather than the end result, it becomes less intimidating because it feels risk-free for the end user,” she added.

Zaytsev echoed this idea, describing AI as a kind of rehearsal space. “Young people practice conversations, explore sensitive topics and organize their thoughts without social risk. This builds emotional clarity and confidence,” he said.

While generative tools such as large language models attract much of the attention, AI’s creative applications extend far beyond text and image generation.

Fairooz Alawami, trained as both an architect and engineer, uses AI to create self-expressive visual works inspired by dance.

Fairooz AlAwami's work

“My practice is focused on contextualizing movement,” she said. “Because of my architectural training, I work with 3D modeling software called Rhino, which includes a visual coding language. Within that environment, you can also write code in Python, JavaScript or C#.”

Alawami employs OpenPose to analyze videos of her dancing by mapping points across her body. She then applies another computer vision model, MIDAS, which converts images or videos into depth frames. “If OpenPose gives me a skeleton, MIDAS gives me depth,” she explained. The resulting data is fed into 3D modeling software, where it is refined and manipulated into finished artworks.

She began dancing at a young age. “I didn’t find it, it found me,” she said. Movement later became the foundation of her artistic practice, leading to her first major project around three years ago while completing her master’s degree using the Grasshopper plugin. At the time, the workflow was slow and fragmented, but the arrival of ChatGPT helped streamline the process by making it easier to write and learn code.

“I think my love for dance and my love for art and design came together in a way that felt uniquely me,” she said. “Once I found that space, I just ran with it. It is my singular voice.”

Her work also draws heavily on cultural and musical heritage. One recent project was inspired by folklore referenced in the iconic song “Al Leila wa Leila” by Umm Kulthum. Alawami extracted musical stems from the track and mapped them to characters within the narrative. “The vocals were Shahrazad, the storyteller, and each stem represented a different narrative element,” she said. Earlier works were influenced by Islamic architecture and the geometric patterns found throughout Saudi Arabia and the wider Arab world.

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“There are some incredible artists using generative AI to do very impressive things, and I don’t think I fall into that camp,” she said. “For me, AI is more like a skills-gap tool that helps me reach where I want to go.

“As humans, whether we realize it or not, the act of creating feeds us in some way. Lowering the barrier to entry makes creativity less intimidating.”

Today, Saudi Arabia’s creative sector is supported by expanding national infrastructure. Initiatives such as the Cultural Scholarship Program place Saudi students in more than 60 universities worldwide, spanning disciplines from archaeology and literature to design, filmmaking and culinary arts. In parallel, the Kingdom launched the SAMAI initiative last year, aiming to equip 1 million Saudis with the skills needed to engage confidently in an AI-driven world.

Within Vision 2030, culture, tourism, digitalization and AI are treated as strategic sectors rather than peripheral concerns. As Saudi Arabia develops its creative economy as a form of soft power, its youth are becoming increasingly digitally fluent. AI tools are now embedded within creative workflows, enabling a new generation to explore heritage, remix traditional aesthetics and develop narratives that resonate on a global stage.