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Gold Soars To Record High Amid Gains In Asian Stock Markets
Gold prices surged to a fresh record on Tuesday as investors flocked to safe-haven assets amid global market uncertainties. The precious metal touched $3,501.59 per ounce during early trading in Asia, surpassing its previous peak of $3,500.10 set in April. Analysts attribute the rally to a weaker US dollar and growing speculation that the Federal Reserve may consider cutting interest rates.....KINDLY READ THE FULL STORY HERE▶
In equity markets, Chinese e-commerce giant Alibaba extended Monday’s 20 percent rally, boosted by strong earnings and robust AI-driven revenue, recording an additional 0.5 percent gain on Tuesday. The momentum lifted the Hang Seng Index by 2.2 percent on Monday and a further 0.1 percent on Tuesday, while Shanghai’s Composite Index also rose, supported by encouraging Purchasing Managers’ Index (PMI) data signaling stronger industrial output. Charu Chanana of Saxo Markets observed, “While US giants face mounting questions around AI monetisation and stretched valuations, Chinese firms are showing tangible earnings lift from AI and cloud.”
In Japan, the Nikkei recovered 0.3 percent on Tuesday following a 1.2 percent drop on Monday, largely due to weakness in semiconductor stocks. South Korea’s markets also climbed, with SK Hynix and Samsung Electronics rebounding after recent declines linked to concerns over their China operations.
On the currency front, the US dollar showed mixed performance against major rivals during early Tuesday trading. Oil prices gained, with Brent crude rising 0.5 percent to $68.46 per barrel and West Texas Intermediate up 1.5 percent at $64.96. Wall Street remained closed Monday for the Labour Day holiday after Friday’s declines on inflation worries.
Key Figures (as of 0300 GMT Tuesday):
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Tokyo – Nikkei 225: +0.3% at 42,292.88
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Hong Kong – Hang Seng Index: +0.1% at 25,644.02
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Shanghai – Composite: +0.8% at 3,839.97
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New York – Dow: Closed (Labour Day)
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Euro/dollar: 1.1697
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Pound/dollar: 1.3529
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Dollar/yen: 147.58
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Brent crude: $68.46 per barrel (+0.5%)
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WTI crude: $64.96 per barrel (+1.5%)
latest
Edo Govt to Sponsor Late Brig-Gen Braimah’s Children Through University In Emotional Tribute.
Edo State Governor, Monday Okpebholo, has approved full educational scholarships for the three children of the late Brigadier General Oseni Omoh Braimah, who died while serving the country.....KINDLY READ THE FULL STORY HERE▶
The Edo State Government said the scholarship will cover the children’s education from their current levels through university, ensuring their academic pursuits continue without disruption.
In a statement issued on Thursday by the governor’s Chief Press Secretary, Patrick Akhere Ebojele, the government said the gesture reflects its commitment to supporting families of fallen military personnel.
The beneficiaries are Farida Hussain-Braimah, an 18-year-old Software Engineering student at Nile University, Abuja; Amir Hussain-Braimah, a 16-year-old SS3 student; and Yasmeen Hussain-Braimah, a 12-year-old JSS2 pupil.
Governor Okpebholo described the scholarship as both a moral obligation and a demonstration of responsible leadership.
He said the late Brigadier General Braimah made the ultimate sacrifice in service to the nation and deserves to be honoured through meaningful support for his family.
According to the governor, the initiative is aimed at securing the future of the deceased officer’s children while recognising his courage and patriotism.
He added that the move aligns with his administration’s SHINE Agenda, which prioritises education, social welfare, and human capital development.
The Edo State Government also encouraged other states and private organisations to establish similar support systems for families of security personnel who die in active service.
Nasarawa State Governor, Abdullahi Sule, has openly backed Aliyu Wadada as his preferred governorship candidate under the All Progressives Congress ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
Sule made this known during a meeting with political appointees at the Government House in Lafia, a move seen as an early signal of political succession plans in the state.
Wadada, who currently represents Nasarawa West in the 10th Senate, recently dumped the Social Democratic Party for the APC, further fuelling speculations about his governorship ambition.
The governor also faulted public officials who parade routine duties like salary payments, road construction and provision of basic amenities as landmark achievements.
Speaking on Wednesday at the 59th inaugural lecture of Nasarawa State University, Sule said governance should go beyond basic responsibilities and focus on policies that directly improve people’s lives.
According to him, leaders must think beyond conventional projects and pursue solutions that bring lasting impact to citizens.
Using his administration as an example, Sule recalled how frequent fire outbreaks at a major market used to force the government into repeated relief payouts to traders.
He said rather than continuing temporary interventions, his government chose to build a modern market to permanently tackle the problem, adding that there has been no report of another fire incident since the reconstruction.
Sule also highlighted the construction of a bridge in Auta near Keffi, which he said has greatly reduced years of devastating flooding in the area.
At the event, Ike Neliaku praised Sule’s development strides, especially road and infrastructure projects across key parts of the state.
Also speaking, Emmanuel Dandaura stressed the need for institutions to align communication with performance, warning that failure to do so could erode public trust.
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“I’m Not Linked to Violence Or Terrorism” — Sultan Of Sokoto Fires Back At US Cleric Mac Arnold.
The Sultan of Sokoto, Muhammad Sa’ad Abubakar, has denied any involvement in violence or terrorist activities, dismissing recent allegations against him as false and unfounded.....KINDLY READ THE FULL STORY HERE▶
In a statement issued on Thursday, the Sultan’s media team, through Prince Bashir Adefaka, warned an American commentator identified as Mac Arnold to stop spreading what it described as baseless and defamatory claims.
The statement said Mac Arnold had made a series of sensational allegations aimed at drawing public attention while targeting the person and office of the Sultan.
According to the Sultan’s media team, the claims suggesting any link between the traditional ruler and violence or terrorism are misleading and unsupported by credible evidence.
It stressed that the Sultan remains a respected religious and national leader who has consistently promoted peace, interfaith harmony, and national unity both in Nigeria and internationally.
The statement urged members of the public and the global community to verify information from reliable sources and avoid amplifying divisive content that could inflame tensions.
It also warned that any defamatory material or comments capable of inciting discord would be subjected to legal action under both Nigerian and international laws.
The Sultanate reaffirmed its commitment to peace, justice, and national unity, insisting that it would continue working with relevant stakeholders to promote stability and coexistence.
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