Gold Price Reaches Record High Amidst Global Uncertainty
The price of gold soared above $5,000 an ounce for the first time ever, extending a historic rally fueled by geopolitical tensions and economic uncertainty, according to BBC Business. The precious metal's value has surged as tensions heightened between the US and NATO over Greenland, adding to growing concerns about financial instability.
The rise in gold prices comes as Toronto is digging itself out from the largest snowfall in the city's history, according to The Guardian. Some parts of Canada's largest city were buried under nearly 60cm of snow, and more than 500 flights were canceled Sunday after Toronto's main airport was snowed in. More than 88.2cm of snow have fallen at Pearson international airport this month, marking the snowiest January and snowiest month since records began in 1937.
US President Donald Trump's trade policies also continue to worry markets, according to BBC Business. While he withdrew import taxes on countries linked to the Greenland row last week, on Saturday he threatened to impose a 100% tariff on Canada if it strikes a trade deal with China. Gold and other precious metals are seen as so-called safe-haven assets during times of uncertainty.
Meanwhile, multiple news sources indicate that Caribbean nations like Jamaica and Antigua and Barbuda, capitalizing on favorable growing conditions and cultural acceptance, have legalized cannabis for medical and recreational use, according to BBC Technology. This has led to a rise in registered farms and dispensaries catering to both locals and tourists with medical authorization. These nations are focusing on developing unique cannabis strains with diverse flavor profiles and medicinal benefits, aiming to establish themselves as leaders in the burgeoning cannabis industry.
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