Pandora, the world-renowned jewelry retailer, announced it would shift its focus to platinum from silver in some of its product lines due to a dramatic surge in silver prices, according to BBC Business. Simultaneously, the price of Bitcoin fell to its lowest level in 15 months, despite public support for cryptocurrency from US President Donald Trump, as reported by BBC Business. These developments come as families in England and Wales face financial strain from empty retirement flats, and as Iran and the US prepare for high-stakes talks amid fears of conflict, according to BBC Business and Sky News.
Pandora's decision to pivot to platinum was driven by the significant increase in silver prices, which had more than doubled over the past year, according to BBC Business. The company's chief executive stated the aim was not to make all jewellery platinum-plated, but to reduce silver to around 25% of its offerings to mitigate exposure to the metal's price volatility. The Danish firm, a major player in the jewellery market, currently produces the majority of its jewellery from silver.
Bitcoin's price decline saw the cryptocurrency reach $66,000 (48,700), its lowest point since October 2024, representing a 24% drop since the beginning of the year, according to BBC Business. This downturn followed months of rising prices, which had seen Bitcoin reach an all-time high of $122,200 in October. Investors had been encouraged by Trump's support for cryptocurrencies and promises to ease industry legislation.
Meanwhile, families are struggling with the financial burden of empty retirement flats in England and Wales, as reported by BBC Business. Many are left paying thousands of pounds annually in fees for properties inherited from loved ones. One individual reported dropping the asking price of their late mother's flat by 200,000 and still receiving no offers. Another person stated the annual cost of their late mother's flat was more than 11,000 a year once ground rent and other charges were factored in.
In other news, the Basant festival is returning to Lahore, Pakistan, after an 18-year ban, as reported by Al Jazeera. The historic Mochi Gate market has seen thousands of visitors buying kites and related items since February 1st.
Adding to the global landscape, Iranian and American officials were scheduled to begin face-to-face talks in Oman, according to Sky News. The discussions, which followed weeks of threatened military action, were expected to be attended by US Middle East envoy Steve Witkoff and Tehran's foreign minister Abbas Araqchi. The talks took place amid a continued American naval build-up near Iran, which Trump described as an "armada."
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