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Gold Heads for Best Year Since 1979 as Crises and Central Bank Buying Fuel Rally

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Gold is on track for its strongest annual performance since 1979, with futures in New York surging nearly 71% in 2025. Prices have climbed from around $2,640 an ounce at the start of the year to above $4,500, driven by global uncertainty ranging from trade distortions and geopolitical conflicts to inflation risks and currency volatility. Analysts say investors are flocking to gold as a safe haven, echoing conditions last seen during the late-1970s energy crisis under former US president Jimmy Carter.

Expectations of US Federal Reserve rate cuts and a weaker dollar have further boosted gold’s appeal, as lower bond yields make non-yielding assets more attractive. Gold’s gains have far outpaced equities, with the S&P 500 up about 18% this year. Major banks such as JPMorgan Chase expect prices to continue rising, forecasting gold could cross $5,000 an ounce in 2026 if current trends persist.

A key driver behind gold’s rally has been aggressive buying by central banks, led by China, as countries seek to reduce dependence on the US dollar and Treasury assets. Central banks have added more than 1,000 tonnes of gold annually over the past three years, well above historical averages. The surge has also lifted other precious metals, with silver, platinum and palladium posting sharp gains, reinforcing gold’s role as a hedge in an increasingly uncertain global financial landscape.

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Pope Leo Highlights Gaza and Global Conflicts in First Christmas Sermon

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In his first Christmas sermon, Pope Leo made an unusually direct appeal regarding the humanitarian crisis in Gaza, asking how people could ignore Palestinians living in tents exposed to rain, wind, and cold. The U.S.-born pope, known for his quieter and diplomatic style, usually avoids political commentary in sermons, but he emphasized the plight of vulnerable populations worldwide, linking their suffering to the message of Jesus’ birth in a humble stable.

During the “Urbi et Orbi” blessing, Leo also addressed broader global issues, calling for an end to wars and lamenting the destruction caused by conflicts in Ukraine, Sudan, Mali, Myanmar, Thailand, and Cambodia. He highlighted the struggles of young people forced into combat and the ongoing humanitarian challenges, stressing the importance of dialogue, reconciliation, and international support.

The pope’s remarks also extended to the homeless and migrants, reflecting his early papacy’s focus on caring for vulnerable communities. He reiterated that resolving long-standing conflicts, including the decades-long Israeli-Palestinian dispute, requires practical solutions such as the establishment of a Palestinian state, while urging all parties to work toward peace and humanitarian relief.

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Louvre Installs Security Bars After $102 Million Jewel Heist

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The Louvre museum in Paris has installed security bars on the balcony used by burglars in the October 19 heist that saw jewels worth an estimated $102 million stolen. The break-in, which lasted less than seven minutes, involved the thieves using a movers’ lift to access the Apollo gallery balcony, smashing a window, and escaping on scooters, highlighting serious gaps in the museum’s security.

The museum has stated that it is learning from the incident and is upgrading its security infrastructure. A crane was used to place the security grille on the balcony door, while additional measures include a mobile police squad stationed near the glass pyramid and plans to deploy 100 more cameras around the museum next year. Authorities have identified eight suspects, though the stolen jewels remain missing.

The heist exposed broader security and structural issues at the Louvre, including inadequate camera coverage of exterior walls and the balcony, alongside other challenges such as gallery closures, water damage to antiquities, and recent staff strikes. Officials emphasized that these improvements are part of a wider effort to transform and strengthen the museum’s security architecture to protect its priceless collections.

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US Bars Former EU Commissioner and Activists in Escalation Against European Tech Rules

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The United States has barred five European figures, including former EU commissioner Thierry Breton, from entering the country, accusing them of pressuring technology companies to censor or suppress American viewpoints. Secretary of State Marco Rubio said the individuals led organised efforts to coerce US platforms through regulations targeting disinformation, framing the move as a defence of free speech against foreign influence.

The visa bans are the latest step in the Trump administration’s pushback against European Union regulations such as the Digital Services Act (DSA), which seeks to curb hate speech and misinformation online. Washington argues that the law unfairly targets American companies and restricts free expression. Rubio described the actions of the targeted individuals and organisations as part of a broader campaign by “weaponised NGOs” and foreign states to impose censorship on US speakers and businesses.

Those named include Imran Ahmed of the Centre for Countering Digital Hate, HateAid leaders Josephine Ballon and Anna-Lena von Hodenberg, Global Disinformation Index head Clare Melford, and Breton, whom US officials labelled a key architect of the DSA. The move, which uses immigration law rather than sanctions, drew sharp criticism from those affected, with responses calling the decision authoritarian and an attack on free speech, even as European officials and activists warned of rising tensions over digital governance.

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Broken Promises Leave Indian Students in Berlin Facing Deportation Instead of Degrees

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Hundreds of Indian students enrolled at Berlin’s International University (IU) are facing deportation after German authorities questioned the validity of the university’s study format, turning their academic aspirations into uncertainty and distress. Many students, who paid high tuition fees and took loans to study in Germany, have received notices asking them to leave the country, as their programmes are no longer recognised as full-time, in-person studies eligible for student visas.

Deep Shambarkar, a 25-year-old master’s student from Maharashtra, invested nearly €20,000 in his business management degree but now faces removal instead of graduation. Authorities reportedly do not recognise IU’s hybrid teaching model as sufficient for residence permits, prompting similar action against an estimated 300 students. While some students from wealthier backgrounds managed to transfer or return home, others have been left stranded, financially burdened and emotionally distressed.

IU said it regrets the situation and blamed a sudden policy shift by Berlin’s immigration office regarding hybrid programmes. While courts have upheld IU’s accreditation, they also imposed stricter attendance and examination requirements, deepening uncertainty. As IU pauses new international admissions in Berlin, affected students continue to battle legal, financial and psychological hardship, with many describing the experience as devastating and life-altering.

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Bomb Blast in Moscow Kills Two Police Officers Near Site of General’s Assassination

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A bomb explosion in Moscow on Wednesday killed two police officers and another person near the site where a senior Russian general was assassinated earlier this week, Russian authorities said. The blast occurred when the officers approached a man behaving suspiciously, close to the location where Lieutenant General Fanil Sarvarov was killed by a car bomb two days ago.

Russia’s State Investigative Committee said the explosive device detonated as the officers confronted the suspect, resulting in three deaths. Criminal cases have been opened under charges related to the murder of law enforcement personnel and the illegal trafficking of explosives. Officials did not identify the third victim, while reports from unofficial Russian Telegram channels suggested the bomber may have been among those killed—claims Reuters could not independently verify.

The incident comes amid a series of assassinations targeting Russian military figures and prominent supporters of the war in Ukraine during the nearly four-year conflict. Moscow has accused Ukrainian intelligence of orchestrating several such attacks, including the killing of General Sarvarov, though Kyiv has not officially commented on the latest explosion.

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Pope Leo Voices Sadness Over Russia’s Rejection of Christmas Ceasefire

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Pope Leo has expressed deep sadness over Russia’s refusal to agree to a Christmas ceasefire in its nearly four-year-long war with Ukraine. Speaking to journalists outside his residence in Castel Gandolfo, Italy, the pontiff said the decision was particularly disheartening given the symbolic importance of Christmas as a time for peace and reflection.

The Pope appealed once again to global leaders and “people of good will” to respect at least Christmas Day as a pause in hostilities. He urged all sides involved in conflicts to consider a temporary ceasefire, even if only for 24 hours, as a gesture of humanity and compassion during the Christian holy period.

Pope Leo, the first pontiff from the United States, said he hoped his renewed appeal would be heard and lead to a brief moment of peace, not only in Ukraine but across the world. His comments come amid continued fighting and international calls for restraint during the festive season.

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Paramount’s Warner Bros Bid Faces Investor Pushback

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Paramount Skydance’s latest $108.4 billion offer to acquire Warner Bros Discovery has been deemed insufficient by major shareholder Harris Oakmark. Owning roughly 4% of Warner Bros shares, the investor emphasized that while Paramount’s amended bid addressed some concerns, it still falls short of providing adequate incentive, leaving the two competing offers — Paramount’s and Netflix’s — as a “toss-up” for shareholders.

The revised Paramount offer includes a $40.4 billion personal guarantee from Oracle co-founder Larry Ellison and an increased breakup fee of $5.8 billion if regulators block the deal. However, the $30-per-share bid remains unchanged, prompting Warner Bros’ board to recommend shareholders reject Paramount’s earlier offer in favor of Netflix, whose bid of $23.25 per share is seen as more secure and includes additional Netflix stock and benefits from the Discovery Global spin-off.

Investors highlight the value of Warner Bros’ premium media assets, including HBO Max and major franchises like Harry Potter and Superman. While some, like Thomas Poehling, may accept Paramount’s revised offer if Netflix doesn’t counter, many others are likely to follow the board’s guidance, reflecting both the complexity of the deal and the importance of stable financing in determining the outcome.

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Russia Intensifies Drone and Missile Strikes on Ukraine’s Odesa Region

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Russia has stepped up attacks on Ukraine’s southern Odesa region, targeting port infrastructure and causing widespread power outages, Ukrainian officials said. Deputy Prime Minister Oleksiy Kuleba described the strikes as “systematic,” warning that Moscow’s military focus may be shifting towards Odesa, a vital hub for Ukraine’s maritime trade. President Volodymyr Zelensky said the assaults aim to block Ukraine’s access to sea-based logistics.

In recent days, Russian drone and missile strikes have damaged civilian vessels, warehouses, and port facilities, disrupting electricity supplies for tens of thousands of residents. Regional authorities reported casualties, including deaths from a ballistic missile strike on the Pivdenniy port, while another attack temporarily cut the only bridge linking Odesa with Moldova. Fires at port facilities also destroyed large quantities of grain-related cargo, adding to economic losses.

Odesa has become strategically critical for Ukraine as other southern ports remain inaccessible due to Russian occupation. Despite the ongoing war, the city serves as a key launch point for a maritime corridor that allows Ukrainian grain exports via the Black Sea. Zelensky said continued Russian attacks show Moscow has no intention of ending its aggression, as diplomatic efforts led by the United States failed to make significant progress toward peace.

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Samsung’s Harman to Acquire ZF’s ADAS Business in $1.8 Billion Deal

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Samsung Electronics on Tuesday announced that its subsidiary Harman will acquire the advanced driver assistance systems (ADAS) business of Germany’s ZF Friedrichshafen in a deal valued at about $1.8 billion. The acquisition will allow Harman to integrate autonomous driving technologies with its existing in-car audio solutions, enabling the development of next-generation connected vehicle platforms.

The deal will give Harman access to key ADAS technologies, including front-facing vehicle cameras, sensors, and ADAS controllers, marking Samsung’s full-scale entry into the fast-growing driver assistance market. ADAS uses camera and sensor systems to detect lanes, vehicles, and pedestrians, helping improve road safety as vehicles become increasingly software-driven.

The acquisition highlights Samsung’s strategy to diversify beyond smartphones and memory chips by strengthening its presence in automotive electronics. Samsung estimates the global market for ADAS and central vehicle controllers will grow from 62.6 trillion won in 2025 to 97.4 trillion won by 2030. The transaction, expected to close in 2026, follows other major Samsung deals this year as the company invests aggressively in future growth areas.

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