World News

China’s central bank increased its gold reserves by 23 tonnes in September, the largest monthly acquisition since October 2023, bringing total holdings to approximately 2,410 tonnes. This move aims to reduce reliance on US dollar assets amid rising geopolitical and financial risks, with private demand for gold also soaring as households seek secure savings options.

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Zimbabwe’s government is actively promoting the ZiG currency to reduce reliance on the US dollar, despite widespread scepticism stemming from past currency crises. The Reserve Bank of Zimbabwe claims the ZiG is backed by reserves, yet many citizens remain hesitant to trust its stability for savings and transactions.

EU leaders have committed to enhancing security and economic ties with Middle East partners while advocating for a diplomatic resolution to the Iran war. Talks in Cyprus included discussions on rising energy prices due to the conflict and the potential formation of a multinational force to secure the Strait of Hormuz.

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