Gold Soars Over 1% as U.S.-China Tariff War Heats Up, Investors Rush to Safe Haven

Gold prices surged more than 1% on Thursday, buoyed by a flight to safety after U.S. President Donald Trump escalated tariffs on China, raising fresh concerns over inflation and global growth. Despite a temporary tariff pause for other countries, the move intensified the ongoing trade war between the world’s two largest economies. 🔥 Tariff Tensions Reignite Demand for Bullion Trump announced a tariff increase on Chinese imports to 125% from 104%, prompting investors to seek refuge in gold, a traditional hedge during economic and geopolitical uncertainty. The latest tariffs overshadowed the administration’s decision to temporarily ease duties for other nations. “If we enter a slow growth period, which is our base case, we think rates will eventually head lower and push gold higher,” said Edward Meir, analyst at Marex, adding that $3,200/oz could be reached “by month-end, if not earlier.” 📈 Factors Fueling the Gold Rally in 2025 Gold has already gained more than 18% this year, fueled by: 📊 Fed’s Balancing Act Minutes from the Fed’s latest meeting reveal that most policymakers are concerned about the economy facing “higher inflation alongside slower growth.” This puts pressure on the Fed’s future rate decisions, with possible trade-offs looming. Gold, which yields no interest, typically underperforms when rates are high. However, its role as an inflation hedge keeps it attractive amid uncertainties. 🔍 What’s Next? Investors are now eyeing key U.S. data: These indicators could provide further clues on inflation trends and Fed policy direction. 🪙 Other Precious Metals

Zelensky Accuses China of Supplying Fighters to Russia: 155 Chinese Nationals Allegedly Involved

Ukrainian President Volodymyr Zelensky has made a significant and controversial claim that at least 155 Chinese citizens are currently fighting alongside Russian forces in the ongoing war in Ukraine. His statement follows the recent capture of two Chinese fighters in the eastern Donetsk region—marking Kyiv’s first official accusation of China providing manpower to Russia. “We Have Names and Passports” – Zelensky Speaking to the press on Wednesday, Zelensky emphasized that Ukraine has documented evidence, including passport data, of these individuals. He stated that his intelligence agencies have been tracking these developments and that “there are many more” Chinese nationals involved than publicly acknowledged. Zelensky claimed: “Russia is actively recruiting Chinese citizens through social media platforms, providing them with training in Moscow, migration documents, and financial incentives before deploying them to the frontlines.” China Denies Allegations, Urges Caution In response, China’s Foreign Ministry acknowledged that they are in contact with Ukraine to verify the claims but dismissed the idea of state-sponsored involvement. Spokesperson Lin Jian reiterated that: “The Chinese government always instructs its citizens to avoid areas of armed conflict and prohibits participation in any military operations.” He also urged Ukraine to “correctly view China’s constructive role” in seeking a political resolution to the conflict. Rising Concerns Over China-Russia Military Ties This incident comes amid growing Western scrutiny of China’s role in the Ukraine conflict. The U.S. State Department called the reports “disturbing,” reflecting rising concerns over China’s indirect support to Russia. The U.S. has previously accused China of: China’s Balancing Act China has long maintained that it is a neutral actor in the war, denying any transfer of lethal military aid to Moscow. It insists that all trade complies with international laws and internal regulations on dual-use goods. North Korea Also in Focus The fresh allegations against China come shortly after Ukraine captured two injured North Korean soldiers in Russia’s Kursk Oblast, pointing to what Kyiv believes is a broadening coalition of nations—directly or indirectly—supporting Russia’s war effort. With global tensions already high, Zelensky’s public claims regarding Chinese involvement mark a new flashpoint in the geopolitical dimensions of the war, potentially straining China-Ukraine and China-West relations further. All eyes will now be on Beijing’s response, as well as any further evidence Kyiv might release.

Barcelona Crush Dortmund 4-0, Take Giant Step Toward UCL Semifinals

CAMP NOU — Barcelona delivered a statement performance in the first leg of their Champions League quarterfinal, thrashing Borussia Dortmund 4-0 on Wednesday night to all but secure a semifinal berth for the first time since 2019. ⚽ Scorers: 🔥 Key Highlights: 🗣️ “We are confident, but not overconfident,” said Xavi post-match. “It’s only half the job done—we still have to perform in Dortmund.” 📊 Match Stats: 🎯 Tactical Brilliance: 🚨 Injury Concern: 🏆 Quadruple Hopes Alive: With La Liga leadership, a place in the Copa del Rey final, Spanish Super Cup already secured, and now a foot in the UCL semis, Barcelona’s quadruple dream remains very much alive.

Tom Cruise’s Mission: Impossible – The Final Reckoning to Premiere at Cannes on May 14, Releases in India on May 23

The much-anticipated Mission: Impossible – The Final Reckoning, starring Tom Cruise, is set to have its world premiere at the Cannes Film Festival on May 14, where it will be screened out of competition. Cruise will walk the red carpet alongside director Christopher McQuarrie and other cast members, marking his return to Cannes in style. This seventh installment in the legendary franchise promises high-octane action and emotional closure, as it is expected to conclude Ethan Hunt’s story arc. Key Details: With The Final Reckoning, the Mission: Impossible saga aims to go out with a bang — combining adrenaline-pumping stunts, espionage, and a fitting farewell to Cruise’s iconic character.

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