Professional summarizer: El-Erian highlights the potential for a gradual decrease in the dollar’s dominance through various global efforts, including the increased interest in gold reserves by BRICS central banks. Despite traditional correlations between gold prices and central bank interest rates, recent trends show a divergence with gold prices rising even as rates are cut. This shift has led to a surge in investor interest, with gold futures holdings tripling in the past year, driven by both central bank actions and speculative investor behavior.
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Snow mapped: Where freezing weather will hit UK this weekend with up to 40cm snowfall forecast
The Met Office has issued eight weather warnings for snow and ice across the UK over the first weekend of 2025, including two amber warnings covering the Midlands, Wales, and northern England. Significant accumulations of up to 40cm are expected in the worst affected areas, leading to power cuts, rail delays, and treacherous road conditions. A yellow snow and ice warning is also in place for most of England, with potential travel delays and power...
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