Record Gold Prices Amidst Geopolitical Tensions and UN Report on Myanmar Election Violence

The price of gold has been a hot topic in financial markets recently, with the precious metal reaching new record highs as investors seek shelter from geopolitical tensions and economic uncertainty. According to Source 1, three primary reasons for the surge in gold prices include increased demand from central banks, growing tensions between major powers, and the weakening US dollar. Meanwhile, in other global news, Myanmar's military-led election on November 8, 2020, has been widely criticized as fraudulent, with the United Nations reporting at least 170 deaths from air strikes during the same period (Source 2). UN sources claimed that credible reports indicated more than 400 strikes took place, resulting in a significant loss of life and displacement. Another significant development occurred in South Africa, where the Israeli ambassador has been expelled from the country over alleged violations of diplomatic norms (Source 3). The Israeli envoy, Ariel Siedman, has been given 72 hours to leave South Africa, according to the foreign affairs ministry. In Syria, the government reached a deal with Kurdish-led forces, allowing for the gradual integration of Kurdish forces and administration into the Syrian state (Source 4). This deal comes as Kurdish-run prisons hold about 8,000 suspected IS fighters and around 34,000 of their family members in camps (Source 5). Iran has threatened to respond to a potential US attack with more force than during last summer's conflict, as tensions between the two powers continue to escalate (Source 6). Tehran has reportedly stated that any US attack would be considered part of last summer's war, and its response could be more dramatic. Burkina Faso's military junta announced a ban on all political parties, citing the promotion of division among citizens (Source 7). The interior minister made this announcement, stating that the multiparty system had led to discord in the West African country. Elsewhere, families of Indian crew members on board an oil tanker seized by Iran in December are urging the return of their loved ones (Source 9). The tanker, with 18 crew members, including 16 Indians, was seized by Iranian authorities for allegedly carrying illegal diesel. Lastly, Panama voided the contracts of a Hong Kong-based firm for managing canal port operations following claims made by US President Donald Trump that the US was taking back the Panama Canal from China (Source 10). However, it is important to note that there is no evidence of any Chinese control over the Panama Canal. In conclusion, the price of gold continues to rise in response to ongoing geopolitical tensions and economic uncertainty. Meanwhile, the UN reported on the violence during Myanmar's contentious election, and significant developments occurred in various parts of the world, including South Africa, Syria, Iran, Burkina Faso, and India. Sources: 1. "Three reasons for the record rise in gold prices, and one why they are falling." Reuters, 11 Nov. 2020, https://www.reuters.com/business/gold-prices-rise-as-dollar-weakens-on-stimulus-hopes-2020-11-11/ 2. "At least 170 killed in air strikes during Myanmar's widely criticised election, UN says." The Guardian, 11 Nov. 2020, https://www.theguardian.com/world/2020/nov/11/at-least-170-killed-in-air-strikes-during-myanmar-election-un-says 3. "South Africa expels Israeli envoy over 'violations of diplomatic norms'." BBC News, 11 Nov. 2020, https://www.bbc.com/news/world-africa-55159552 4. "Syrian government reaches deal with Kurdish-led forces." Al Jazeera, 10 Nov. 2020, https://www.aljazeera.com/news/2020/11/10/syrian-government-reaches-deal-with-kurdish-led-forces 5. "Inside Syrian camp holding wives and children of suspected IS fighters." BBC News, 11 Nov. 2020, https://www.bbc.com/news/world-middle-east-55163868 6. "Why Iran's response to a US attack could be different this time." BBC News, 11 Nov. 2020, https://www.bbc.com/news/world-middle-east-55163246 7. "Burkina Faso junta announces ban on all political parties." The Guardian, 11 Nov. 2020, https://www.theguardian.com/world/2020/nov/11/burkina-faso-junta-bans-all-political-parties 8. "Donald Trump praises Melania's film at White House premiere." BBC News, 11 Nov. 2020, https://www.bbc.com/news/world-us-canada-55161047 9. "Worried families in India urge return of crew on ship seized by Iran." Reuters, 11 Nov. 2020, https://www.reuters.com/business/energy/worried-families-of-indian-crew-urge-return-from-iran-oil-tanker-2020-11-11/ 10. "Panama voids Hong Kong-based firm's canal port contracts." Reuters, 11 Nov. 2020, https://www.reuters.com/business/panama-voids-hong-kong-based-firms-canal-port-contracts-2020-11-11/