International News 25 February 2026
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Gold Hits Three-Week High Amid Trump Tariff Uncertainty
Gold prices climbed to a three-week high on Monday (Feb 23, 2026), driven by strong safe-haven demand following renewed uncertainty over U.S. trade policy under President Donald Trump. Spot gold rose 0.9% to US$5,150.59 per ounce, after touching its highest level since January 30. U.S. gold futures for April delivery advanced 1.8% to US$5,171.20 per ounce. The rally came after Trump pledged to raise import tariffs—temporarily increasing them from 10% to 15%—following a Supreme Court decision rejecting his previous tariff plan. Market activity is expected to pick up further as China, one of the world’s largest gold consumers, reopens after the Lunar New Year holiday. Analysts note that persistent geopolitical and economic uncertainty, combined with signs of higher-than-expected U.S. core inflation and slowing fourth-quarter growth, could support gold prices in the coming quarters. While elevated inflation may keep the Federal Reserve cautious about cutting rates, gold continues to benefit from its role as a store of value during periods of volatility. Other precious metals also gained, with silver rising 2.2% to US$86.42 per ounce, platinum edging up 0.3% to US$2,150.75, and palladium increasing 0.4% to US$1,755.50 per ounce.
JPMorgan Reaffirms Cost Discipline, Targets 17% Return on Tangible Equity
JPMorgan Chase reaffirmed its commitment to cost discipline while pursuing strong profitability, maintaining its adjusted annual expense target of US$105 billion and aiming for a 17% return on tangible common equity (ROTE). In a presentation to investors on Monday (Feb 23, 2026) ahead of its Investor Day in New York, management expressed confidence in achieving its long-term ambitions. The 17% ROTE target highlights the bank’s focus on efficiently utilizing tangible assets to generate sustainable earnings—an important metric for assessing financial strength amid ongoing global market volatility. The optimism is backed by solid performance throughout last year. In January, JPMorgan reported fourth-quarter earnings that exceeded analyst expectations, driven by robust trading results benefiting from market turbulence. The bank also surpassed Wall Street profit estimates in all four quarters of 2025, according to LSEG data. Investor confidence has followed suit, with JPMorgan shares surging 34.4% in 2025, outperforming major U.S. banking peers and broader market benchmarks, while continuing to edge higher in after-hours trading.
Strategy Marks 100th Bitcoin Purchase, Holdings Reach 717,722 BTC
Strategy added 592 BTC worth approximately US$39.8 million last week, marking its 100th Bitcoin purchase since adopting a Bitcoin-based treasury strategy in August 2020. According to its filing with the U.S. Securities and Exchange Commission (SEC) on Monday (Feb 23), the company acquired the coins at an average price of US$67,286 per BTC, including fees and expenses. With this latest addition, Strategy now holds a total of 717,722 BTC, accumulated at an aggregate cost of around US$54.56 billion. The purchase was funded through the sale of 297,940 Class A common shares under its at-the-market (ATM) program, generating net proceeds of approximately US$39.7 million. No preferred shares were sold during the reporting period. Since its initial US$250 million Bitcoin allocation in August 2020, Strategy has consistently leveraged equity issuance and capital market instruments to expand its holdings, making it the world’s largest publicly listed corporate Bitcoin holder. Notably, the latest purchase was made below the company’s overall average acquisition cost of US$76,020 per coin. At current market prices, the firm’s 717,722 BTC are valued at roughly US$47.5 billion, underscoring Bitcoin’s central role in its corporate strategy and capital structure nearly six years after its first acquisition. Executive Chairman Michael Saylor reiterated his long-term conviction, stating on February 20: “If it’s not going to zero, it’s going to one million.”