_{FINANCIAL NEWS}

Trump Admits Inflation’s Return, Blames Biden

n a Fox News interview, Trump admitted inflation is rising again but blamed Biden’s spending, calling it the “Green New Scam.” While inflation has surged—driven by rising fuel and egg prices—economists debate its causes, citing COVID-era stimulus, supply chain issues, and global conflicts. Federal spending may have played a role, but experts agree it wasn’t the sole driver. Meanwhile, Trump’s proposed tariffs could further increase costs for consumers, potentially undermining his inflation-fighting strategy. As inflation remains high, both Biden and Trump now face tough economic challenges. Read More.

_{WORLD NEWS}

BRICS Banks Draining Gold Reserves as China and Russia Struggle to Meet Surging Demand

Chinese banks are running out of gold as demand soars, with major lenders like ICBC and Agricultural Bank of China showing widespread stockouts of gold bars. Meanwhile, Russia’s gold reserves have plummeted by 46.4% in 2024, marking the steepest drop since the COVID-19 pandemic. The Russian Central Bank now holds its lowest gold reserves since mid-2022, as domestic consumption continues to climb. With gold prices hitting record highs, analysts warn of accumulating risks, urging investors to diversify their portfolios. Read More.