International News 24 March 2025
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Gold Prices Edge Up Supported by Safe Haven Demand and Fed's Policy
Gold prices rose on Monday as investors sought safe-haven assets amid economic uncertainty and expectations of an interest rate cut by the Federal Reserve. Spot gold increased by 0.1% to $3,025.12 per ounce, while U.S. gold futures gained 0.3% to $3,030.70 per ounce. Rising trade tensions, resulting from the reciprocal tariff policies announced by President Donald Trump, have added to concerns in the market. These tariffs, which are set to take effect on April 2, could potentially increase inflation and slow down economic growth, thereby boosting the appeal of gold as a hedge. The Federal Reserve is also expected to cut interest rates by 0.25 percentage points by the end of this year, but Federal Reserve Chairman John Williams has stated that there is no urgency to change the current interest rates due to ongoing economic uncertainty.
Japan, China, and South Korea Meet for This Reason
Top diplomats from Japan, China, and South Korea gathered in Tokyo to discuss security and economic issues in East Asia amid increasing global uncertainty. During the meeting, it was agreed that preparations for a trilateral meeting in Japan later this year would be accelerated, with the goal of addressing topics such as declining birth rates and an aging population. This meeting is significant as it is the first since 2023, taking place at a time when the long-standing alliance between the U.S. and Japan is uncertain, potentially offering China an opportunity to strengthen ties with countries that were previously allied with the U.S. With a combined population of nearly 1.6 billion and an economic output exceeding US$24 trillion, the three countries believe they can exert significant influence due to their large markets and growth potential.
https://internasional.kontan.co.id/news/jepang-tiongkok-dan-korea-selatan-bertemu-karena-alasan-iniCanada's Prime Minister Mark Carney Calls for Snap Election Amid Tensions with the U.S
Canada's Prime Minister Mark Carney has called for a snap election to be held on April 28, 2025, citing the need for a strong mandate to address the threats posed by U.S. President Donald Trump. Carney highlighted the deteriorating relations between Canada and the U.S., with Trump imposing import tariffs on Canada and making threats of annexation. The Liberal Party, led by Carney, has seen a surge in support since January following Trump's aggressive stance toward Canada and the resignation of former Prime Minister Justin Trudeau. While Carney initially expressed a willingness to cooperate with Trump, he has now taken a firmer stance, calling the situation the greatest crisis of their lifetime and emphasizing the need to build a strong economy and safeguard national security. Carney also stated that Trump seeks to weaken Canada for the benefit of the United States, stressing the Canadian government's commitment to maintaining its sovereignty.