Source: Reuters
Security & Justice
Southern Lebanon Endures Massive Damage: 40,000 Homes Leveled Across 37 Towns
Israeli forces have systematically destroyed entire neighborhoods in southern Lebanon, leveling more than 37 towns and wiping out over 40,000 residential units, according to Lebanon's National News Agency.
Tuesday, November 5, 2024
Gaps in Coastal Radar Enabled Israeli Raid in Batroun, Army Commander Says
Lebanon’s army chief, General Joseph Aoun, detailed to Caretaker Prime Minister Najib Mikati how Israeli forces likely exploited gaps in the country's coastal radar system during the recent raid carried out in Batroun. The briefing comes as Lebanese officials seek answers on how Israel’s elite Shayetet 13 unit carried out the landing undetected.
Monday, November 4, 2024
Opinion
The Emptying of Baalbek Is a Moment to Take Stock
“Large numbers of people continue to flee their homes every day, as Israel’s military operations in Lebanon have been going on unabated.” These disturbing words could be from almost any news report about Israel’s invasion of its northern neighbour over the past month. However, they can be found in a report by the Norwegian Refugee Council’s Internal Displacement Monitoring Centre issued on July 27, 2006.
Saturday, November 2, 2024
A Future Without Hezbollah
At the end of September, when Israel’s campaign to destroy Hezbollah was reaching its height, I met one of the group’s supporters in a seaside café in western Beirut. He was a middle-aged man with a thin white beard and the spent look of someone who had not slept for days. He was an academic of sorts, not a fighter, but his ties to Hezbollah were deep and long-standing.
Thursday, October 31, 2024
Sports
Tottenham Forward Son Heung-min Crowned Asia’s International Player of the Year
Tottenham forward Son Heung-min was crowned as Asia’s International Player of the Year for the fourth time by the Asian Football Confederation at its annual awards ceremony Tuesday.
Wednesday, October 30, 2024
Real Madrid Launch Investigation into Racist Insults After El Clasico Defeat
Real Madrid has launched an investigation into racist insults directed at players during Saturday’s 4-0 home loss to Barcelona in LaLiga, it said on Sunday.
Monday, October 28, 2024
Wednesday 22 May 2024 12:39:27
Gold Prices Ease as Focus Turns to U.S. Fed Minutes
Gold prices inched down but hovered above the key $2,400 level on Wednesday, as investors awaited minutes from the Federal Reserve's latest policy meeting for fresh signals on the timing of U.S. interest rate cuts.
Spot gold was 0.3% lower at $2,415.33 per ounce, as of 0733 GMT. Bullion hit a record high of $2,449.89 on Monday.
U.S. gold futures were down 0.3% at $2,419.00.
One of the "factors supporting gold is fiat currency debasement undertaken by the U.S. and the developed nations due to the rising budget deficits," said Kelvin Wong, a senior market analyst for Asia Pacific at OANDA.
"There's a potential that stimulus fiscal policy will play a higher role in stimulating these countries, and if this takes shape, the confidence of the individual country currency will be eroded."
Minutes of the Fed's May policy meeting is due at 1800 GMT. Traders are currently pricing a 60% chance of a rate cut by September.
Recent data suggested U.S. inflation resumed its downward trend, but Fed policymakers said on Tuesday the central bank should wait several more months to ensure inflation really is back on track to its 2% target before cutting interest rates.
Lower interest rates and geopolitical uncertainty make bullion a favourable investment.
Gold has been solidifying above the $2,400 level ahead of a potentially looser interest rate environment later in the year, but for it to hit record highs, a pullback in the dollar or bond yields, or an increase in safe-haven demand may be required, said Tim Waterer, chief market analyst at KCM Trade.
Spot silver fell 0.8% to $31.71 after hitting an over 11-year high on Monday.
"Silver price is more momentum driven and the break out of major resistance level is more of a catch up play given resilient gold prices," OANDA's Wong said.
Platinum edged 0.1% lower to $1,045.35 and palladium dropped 1% to $1,017.00.
