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Dubai: Gold prices rise slightly; analysts say global costs could jump over $4,100
Gold prices experienced a modest increase in Dubai on Tuesday, with 24K gold rising to Dh480.25 per gram, while 22K, 21K, and 18K gold stood at Dh444.75, Dh426.50, and Dh365.25 per gram, respectively. This slight uptick comes after a dip in global spot prices, which fell to $3,971.26 per ounce at 10am UAE time, with silver priced at $47.56. The decline in gold prices on Monday was attributed to fading hopes of another interest rate cut by the US Federal Reserve in December, causing prices to drop below $4,000 at the start of Tuesday’s trading session. However, analysts are now predicting a potential surge in gold prices, driven by a weak ISM Manufacturing PMI report. The PMI stood at 48.7, significantly lower than the expected 49.4, signaling a slowdown in the US economy. Nadir Belbarka, an analyst at XMArabia, described the weak PMI as a ‘gut punch’ for the Federal Reserve, suggesting that a rate cut in December could ‘supercharge’ gold’s appeal as a safe-haven asset. Belbarka also noted that the US dollar is under pressure, down nearly 0.6%, with further declines likely if risk-off sentiment intensifies. He anticipates gold could reach $4,100 this week as inflation fears subside and real yields decline. Last month, gold prices rallied to record highs before sharply falling towards the end of the month. Analysts expect no major movements in gold prices for the remainder of the year.
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UN official: China, EU to lead at COP30 amid US absence
As the United States is unlikely to have a significant presence at the COP30 United Nations climate change conference, China and the European Union are poised to take the lead in driving the agenda and outcomes of this critical global event. Scheduled for November 2025 in Belem, Brazil, COP30 will bring together nations to address pressing climate challenges. Inger Andersen, Executive Director of the UN Environment Programme, highlighted this shift in leadership during an exclusive interview with China Daily, emphasizing the pivotal roles China and the EU are expected to play. Andersen noted that both entities are not only supporting Brazil to ensure the conference’s success but are also spearheading transformative low-carbon investments in developing economies. These initiatives are anticipated to yield multilateral benefits, fostering sustainable development and global climate resilience. The absence of the US, a historically influential player in climate negotiations, underscores the evolving dynamics of international climate diplomacy, with China and the EU stepping up to fill the leadership vacuum.
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Trump: Cooperate with China amid competition
In a recent interview with CBS’ ’60 Minutes,’ former US President Donald Trump emphasized the potential for the United States to achieve greater strength and prosperity through strategic cooperation with China. Speaking on Sunday, Trump highlighted the importance of fostering a collaborative relationship with China, even as the two nations navigate intense global competition. His remarks underscore a pragmatic approach to international diplomacy, suggesting that mutual benefits can be derived from partnership rather than confrontation. This perspective aligns with broader discussions on the evolving dynamics of US-China relations, which have significant implications for global economic and political stability. Trump’s comments come at a time when both nations are exploring avenues to address shared challenges while managing their competitive interests.
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Japan’s new leader is praised for an ‘energetic’ diplomatic debut hosting Trump
Japanese Prime Minister Sanae Takaichi received mixed reactions in parliament on Tuesday following her recent diplomatic engagements, which included hosting U.S. President Donald Trump. While her efforts were lauded by some, opposition leader Yoshihiko Noda criticized her for what he termed ‘flattery diplomacy to the extreme,’ particularly regarding her plans to nominate Trump for the Nobel Peace Prize. Takaichi, Japan’s first female leader, held a summit with Trump just a week after assuming office and participated in two regional summits. Noda acknowledged her ‘big smiles’ and ‘energy,’ which earned Trump’s praise, but questioned her judgment in light of Trump’s controversial suggestion to resume nuclear testing—a sensitive issue in Japan given its history. Takaichi did not comment on whether she would proceed with the nomination. Meanwhile, her recent talks with Chinese President Xi Jinping and South Korean leader Lee Jae Myung, aimed at fostering stable relations, have been well-received. Takaichi has softened her previously hawkish stance, skipping a visit to the controversial Yasukuni Shrine and donating a religious ornament instead. Her approval ratings remain high, hovering around 80%, though her Liberal Democratic Party’s support remains stagnant at 20-30%. Takaichi’s government also launched a ministerial meeting to address foreigner-related issues, including investment, labor, and tourism, while distancing itself from xenophobia. Additionally, she initiated a task force to drive economic growth through public-private investment in key sectors like AI, semiconductors, and defense. During Trump’s visit, Takaichi reinforced her ties with former Prime Minister Shinzo Abe and pledged to usher in a ‘golden age’ of Japan-U.S. relations.
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Zimbabwe’s Williams sacked over ‘drug addiction’
Former Zimbabwe cricket captain Sean Williams has officially retired from international cricket after entering a rehabilitation program to address drug addiction, as confirmed by Zimbabwe Cricket (ZC). The 39-year-old all-rounder, who has amassed nearly 9,000 runs and taken over 150 wickets across all formats, has made himself unavailable for national selection, prompting ZC to announce that he will no longer be considered for the team. Williams withdrew from the T20 squad ahead of the World Cup Africa Qualifier series in Harare in September, citing personal struggles. During an internal investigation, he disclosed his addiction and voluntarily sought rehabilitation. ZC acknowledged his contributions to Zimbabwean cricket over two decades, describing him as a pivotal figure in the sport’s recent history. However, the governing body emphasized the importance of professionalism, discipline, and adherence to anti-doping regulations, noting Williams’ history of disciplinary issues and unavailability. His national contract will not be renewed when it expires on December 31. ZC expressed support for his recovery and wished him success in his future endeavors.
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On eve of UN climate talks in Brazil, a call for less talking and more doing
For three decades, global leaders and diplomats have convened at United Nations climate negotiations, yet Earth’s temperature continues to rise, and extreme weather events intensify. This month, as the COP30 conference kicks off in Belem, Brazil, the focus shifts from lofty promises to tangible action. Unlike previous gatherings, particularly the landmark 2015 Paris Agreement, COP30 is being dubbed the “implementation COP,” emphasizing on-the-ground efforts to combat climate change.
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Aaron Ramsey’s family ‘haunted’ by dog’s disappearance
The family of Welsh football star Aaron Ramsey is grappling with the emotional toll of their beloved dog Halo’s disappearance in Mexico. Halo, a 10-year-old beagle, went missing on October 9 from a ranch in the Guanajuato region, near San Miguel de Allende. Despite extensive search efforts, including a $20,000 reward and the use of a dog tracker collar, Halo has not been found. In a heartfelt statement released on Monday, the family expressed their sorrow, stating they are ‘trying to accept that she has most likely passed away.’ They added that the uncertainty surrounding Halo’s fate will ‘continue to haunt’ them, and they cannot simply ‘move on’ from this tragedy. The statement also revealed that the family was unaware of Halo’s disappearance for a week, delaying their search efforts. Ramsey, who recently joined Mexican club Pumas UNAM, has shared numerous photos and videos of Halo on social media, highlighting the deep bond they shared. The footballer’s contract with Pumas UNAM was reportedly terminated by mutual agreement after he played in six games, though the club has yet to confirm this. The Ramsey family’s ordeal has drawn widespread sympathy, underscoring the profound impact pets have on their owners’ lives.
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Former US Vice-President Dick Cheney dies aged 84
Dick Cheney, the former US Vice President who played a pivotal role in shaping George W. Bush’s ‘war on terror’ and was a key advocate for the 2003 invasion of Iraq, passed away at the age of 84. His family announced that he succumbed to complications from pneumonia, cardiac, and vascular diseases on Monday night. Cheney, born in Lincoln, Nebraska in 1941, rose to prominence as one of the most powerful vice presidents in US history, transforming the traditionally ceremonial role into a de-facto deputy presidency. He was instrumental in guiding American foreign policy and national security following the 9/11 attacks, advocating for military actions in Afghanistan and Iraq. Cheney’s tenure was marked by controversy, particularly over his assertions about Iraq’s weapons of mass destruction and alleged links to al-Qaeda, claims that were later discredited. Despite his significant influence, Cheney’s legacy remains deeply polarizing due to the prolonged and costly Iraq War. In his later years, he became a vocal critic of Donald Trump, endorsing Kamala Harris in the 2020 election and condemning Trump’s leadership as a threat to the republic. Cheney’s daughter, Liz, followed in his footsteps, becoming a prominent ‘never Trump’ Republican before being ousted from Congress for her opposition to the former president. His passing has reignited debates over his complex legacy, with some on the left praising his late-life stance against Trump, despite their earlier criticisms of his policies.
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Saudi Arabia: Indian shot dead after dispute over buying illegal substances
An Indian national residing in Saudi Arabia tragically lost his life following a violent altercation over the purchase of illegal substances. The incident occurred in a mountainous area, as confirmed by the Saudi Ministry of Interior on Monday. Two Ethiopian nationals were apprehended by the Jeddah Province Police for breaching the Saudi Border Security Law. One of the suspects allegedly shot the Indian man during the dispute. Despite being rushed to a hospital and receiving medical attention, the victim succumbed to his injuries. Subsequent investigations uncovered that the two Ethiopian individuals were involved in the trafficking of prohibited substances and drugs. They have since been handed over to the Saudi Public Prosecution, where legal proceedings are underway. No additional details about the incident have been disclosed, and the Indian embassy in Saudi Arabia has yet to issue a statement.