Gold

The top seeds defend their Asian Games squash titles, becoming the first players to qualify for the Los Angeles Games.

Malaysia’s Eain Yow Ng and Sivasangari Subramaniam have made history by becoming the first squash players to qualify for the Summer Olympics after winning gold medals at the Asian Games in Aichi-Nagoya, Japan.

The defending champions won the men’s and women’s finals on Sunday and earned a ticket to the 2028 Los Angeles Games, where squash will make its Olympic debut.

Squash is among a handful of sports at Aichi-Nagoya where a gold medal serves as automatic qualification for the next Olympics.

Both Eain and Sivasangari successfully defended their titles without dropping a single game in their campaigns. Their victories gave Malaysia its fifth and sixth gold medals.

World number 18 Eain thrashed India’s Abhay Singh 11-9, 11-5, 11-5 in 33 minutes at the Nagoya Kinjo Futo Arena and became the first Malaysian to qualify for the Olympics.

World number five Sivasangari joined her compatriot soon after when she made quick work of the women’s final against India’s Anahat Singh.

She demolished Singh, ranked 17th in the world, 11-4, 11-4, 11-7 in just 23 minutes to clinch gold.

Earlier, Singh, the world junior champion, produced a stellar comeback in the semifinals from two sets down to overpower Japan’s Satomi Watanabe (9-11, 11-13, 12-10, 11-6, 11-3) on Saturday.

“I think it is the best win of my career,” Singh, 18, said after the match. “She’s number six in the world, and that’s the highest win I’ve ever had in my squash career.”

She made history even before Sunday’s match began when her semifinal victory made her the first Indian woman to reach the singles final at the Asian Games.

Earlier in the day, Pakistan picked up two more bronze medals at the games as third seed Noor Zaman toppled compatriot Ashab Irfan 3-0 in the bronze medal match. Watanabe took a 3-1 win over Hong Kong’s Sin Yuk Chan.

The 13-year-old beat the previous 400m Asian Games record, set by China’s Ye Shiwen in 2014, by about 4.5 seconds.

China’s 13-year-old swimming sensation Yu Zidi has completed a hat-trick of Asian Games golds with a dominant victory in the 400m individual medley, two years before the Los Angeles Olympics.

The schoolgirl powered home in an Asian Games-record 4 minutes 28.56 seconds (04:28.56) on Wednesday to make it a clean sweep of her three individual events in Tokyo, following victories in the 200m butterfly and 200m individual medley, also in games-record times.

She beat the previous 400m games record set by China’s Ye Shiwen in 2014 by approximately 4.5 seconds.

It was the fourth-fastest time in the world this year, with world record-holder Summer McIntosh owning the top three.

With the next Olympics two years away, Yu is shaping up to be a major medal contender at the 2028 Los Angeles Games.

Last year, she became the youngest medallist at the World Aquatics Championships, where she won bronze for China’s relay team at the age of 12, and has since been earmarked for success in the swimming world.

At the same championship, Yu finished fourth by a small margin in three individual events.

In March, the teen sensation built on her growing reputation with a 200m butterfly victory over seven-time American Olympic medallist Regan Smith at the China Swimming Open.

At the Asian Games, Yu has dominated the pool and showed another glimpse of her immense talent in the 400m individual medley, where she took the lead from the start and finished 3.95 seconds clear of silver medallist Ke Wenxi of China, with Japan’s Mio Narita finishing third.

In addition to grabbing international headlines, Yu has become a sensation at home following her Asian Games exploits.

The story of her introduction to competitive swimming after being spotted by a coach at a water park, and her struggle with interviews, has gone viral on local social media platforms.

At the games, Yu was asked by the media whether answering questions was the hardest part of competing. She replied, with a giggle: “Every time I just want to float off somewhere else.”

A gold mine collapse in northern Sudan has killed at least 10 people and injured 21, according to survivors, bringing renewed attention to the dangers facing workers in one of the country’s most important and least regulated industries.

The collapse took place on Sunday at the Awny mining area near Sudan’s border with Egypt. Miners told the AFP news agency they had recovered 10 bodies and pulled 21 injured workers from the site, while the search continued for people believed to be trapped beneath the rubble. It is unclear how many people are trapped in the collapsed mine.

The disaster comes just days after another deadly accident at a gold mine in West Kordofan State. A collapse at the al-Zaraa mine near en-Nahud, a town in central Sudan, left at least 82 people dead.

Sudan is one of Africa’s top gold producers, recording 70 tonnes of production last year, according to the Sudanese government.

Since fighting broke out in April 2023 between Sudan’s army and the paramilitary Rapid Support Forces (RSF), businesses have been devastated, agriculture has been disrupted, millions of people have been displaced, and Sudan’s formal economy has weakened. In that environment, gold has remained one of the country’s most valuable sources of income.

In July 2025, it was reported by local agencies that Sudan’s gold production rose sharply despite the ongoing conflict, reaching 64 tonnes in 2024, 53 percent higher than the 41.8 tonnes recorded in 2022, and generating $1.57bn in legal export revenues.

However, the gold trade has also become a point of international scrutiny. Most of the gold exports end up in the UAE. In March 2025, Sudan went to the International Court of Justice (ICJ), accusing the UAE of supporting and funding the RSF using gold. The UAE has denied accusations that it supplies weapons to the RSF.

Sudan’s gold deposits are spread across the country, with the majority in the northeast. Port Sudan, the country’s main port, is home to most of the deposits and has been largely controlled by the Sudanese Army since the war began. However, areas controlled by the RSF are also populated by gold deposits.

At the moment, “much of Sudan’s gold is taken out of the country through smuggling or illicit networks instead of passing through government channels that could directly contribute to public revenue,” said Joseph Tucker, senior analyst on the Horn of Africa at the International Crisis Group.

But amid that diplomatic battle and the accusations surrounding gold, the mining deaths in northern Sudan have also raised larger questions over how the country manages the sector, analysts say.

“This disaster is yet another example of the deadly hazards facing those working in Sudan’s gold mines,” Tucker told Al Jazeera. “Most of these (gold mines) are informal, artisanal mines in remote areas that are unregulated and lack modern mining technology, adequate infrastructure, and specialised safety equipment.”

This year, Sudanese Prime Minister Kamil Idris met with the minister of minerals and spoke on the policies for regulating traditional mining and the management and control of various mineral markets. According to French-based Sudanese media, Sudanese authorities called for swift action to address the environmental damage and public health hazards caused by mining activities across the country.

Yet, despite the dangers, Tucker said the state of the Sudanese economy made gold mining appear lucrative to many Sudanese.

During the war, the Sudanese currency’s value has crashed. Before the outbreak of fighting in 2023, about 570 Sudanese pounds could buy a US dollar. By April 2026, the currency had slid to a sixth of that value: It cost 3,500 pounds or more to afford a dollar. That has led to sharp food inflation and a surge in the costs of transport and fuel.

According to estimates by the United Nations Development Programme, Sudan lost $6.4bn of its gross domestic product (GDP) in 2023 alone: That’s a quarter of the country’s $26bn GDP that year. In August, the UN agency reported that 90 percent of the agrarian nation’s farmers had seen yields drop over the previous year.

That economic crisis, Tucker said, “fuels the demand for gold and willingness of miners to work in poor conditions” – even if it proves deadly.

Chinese schoolgirl Yu Zidi lit up the opening day of the Asian Games with a record‑breaking 200m butterfly gold medal secured by a performance she described as “only so‑so”.

The 13‑year‑old claimed her first major gold in two minutes 05.08 seconds, an Asian Games record that took almost half a second off compatriot Zhang Yufei’s mark from three years ago.

Yu, who is strongly tipped to make an impact at the 2028 Los Angeles Olympics, won by over three seconds in Tokyo from her team-mate Chang Mohan.

“It was only so-so,” a smiling Yu said after receiving her medal, adding that her butterfly technique “is still slightly lacking”.

“I hope I can swim even faster. I improved my time by 0.9 seconds here, and I believe I will perform better next time,” she continued.

Yu, who will take part in two more individual events at the Asian Games, became the youngest ever swimmer to win a medal at the World Championships when she took bronze as a 12-year-old as part of China’s 4x200m freestyle relay team last year.

Somewhere in the overlap between William Friedkin’s 1977 action thriller “Sorcerer” and Kelly Reichardt’s 2020 Pacific Northwest pioneer indie “First Cow” lies Padraic McKinley’s directorial debut “The Weight.”

“Sorcerer” is about a group of fugitives driving a load of dynamite across the jungle; “The Weight” follows a group of Depression-era convicts transferring gold through the forest. “First Cow” is about the sweetness of friendship and French pastries in the wilds of Oregon during westward expansion; “The Weight” is about the corrupting forces of capitalism. McKinley’s movie marries the instincts of modern indie filmmaking with a New Hollywood ethos, while bringing an authenticity to the details of the period.

We follow the story of Murphy (Ethan Hawke), a World War I vet and single father in Eugene, Ore., struggling to provide for his daughter, Penny (Avy Berry), three years into the Great Depression. After an unfortunate run-in with the law, Murphy finds himself in a prison labor camp, building a road and trying to shorten his sentence so he can get out before his daughter is adopted by a new family.

Opportunity presents itself in Murphy’s foreman, Clancy (Russell Crowe), who takes a shine to him after he fixes his car and devises an ingenious way to remove boulders without dynamite. Cuddly but dangerous, Clancy makes a seemingly simple offer to Murphy: He and three friends can earn their freedom if they hike a load of gold out of a mining camp on the eve of President Franklin D. Roosevelt confiscation of all gold stockpiles.

The how and why details aren’t that important; the story is merely that the prisoners have to get from point A to point B through a rugged forested terrain, under the watch of two intimidating chaperones, Amis (Sam Hazeldine) and Letender (George Burgess). A mining camp servant, Anna (Julia Jones), joins their group as a runaway and while it seems a straightforward task, the arduous and brutal journey is one that is liable to turn these convicts into runaways.

Murphy’s gang weren’t really outlaws to begin with — he was imprisoned for defending his daughter from some undercover cops, while Singh (Avi Nash) was arrested for his associations with socialism. Olson (Lucas Lynggaard Tønnesen) was part of a group going after a judge for seizing Scandinavian farms, while the most hardened criminal among them is Rankin (Austin Amelio), who grew up in juvie. But in order to survive the woods, Murphy will have to dig deep into his wartime past and rely on his own skills and smarts to make out it out intact.

McKinley pours his craft into authentically representing the era, from the perfectly worn denim of the costumes to the refreshingly real and craggy faces of the cast (and thank goodness Hawke and Crowe are respectably aging into their character-actor looks). The Bavarian forest beautifully stands in for 1930s Oregon and cinematographer Matteo Cocco balances ’70s-inspired slow zooms with composed, high-contrast images that hark to early 20th century styles of photography. A score by Latham and Shelby Gaines balances discordant, atonal tones with suspense-driven sound design that captures the creaking noises of the forest and the concealed dangers it holds.

McKinley stages a few bullet-sweating sequences of peril, including a particularly brutal transport of gold bars across a crumbling rope bridge and an underwater accident exacerbated by floating logs. Both are nail-biters but you can’t help but think he could have pushed it even further. Tonally, the film is torn between wanting to be brutally bleak and offering some kind of hope for Murphy and his precocious, adorable daughter.

When “The Weight” leans into its nasty, mean and grim moments, it gets at something that seems closer to truth than the saccharine resolution we fear is coming. It seems like McKinley wants to deliver a crushing blow, but then feints at the last minute, opting for a more optimistic kind of fantasy.

Politically and culturally, what “The Weight” speaks to is as ugly as the violence that occurs in the mud and fog of the forest. But it ends on an oddly cheery note that doesn’t square with what we’ve seen. It’s a cutesy ’70s nod that feels more “Smokey and the Bandit” than “Sorcerer.” The bolder choice would have been to commit to expressing the despairing lessons of this world. We want to see these characters changed by what they’ve experienced, even if it’s dark. We want to see them actually carry the weight.

Katie Walsh is a Tribune News Service film critic.

Caracas, September 16, 2026 (venezuelanalysis.com) – Venezuela and the United Kingdom have announced a formal decision to upgrade their diplomatic relations and to re-establish full ambassadorial representation.

London formally presented its policy shift on September 15 in a missive to Parliament through coordinated statements by Minister for Latin America Chris Elmore in the House of Commons and Parliamentary Under-Secretary of State Lord Wood of Anfield in the House of Lords.

In the statements, the cabinet members framed the “diplomatic upgrade” around supporting a “democratic transition” while pursuing pragmatic bilateral engagement with the South American country.

“Developments in Venezuela since 3 January have created an important opportunity for the international community to support the restoration of democracy,” the statement read. “Working closely with the United States and with international partners, the UK considers that this moment calls for pragmatic engagement to help advance a credible transition and to encourage further reforms.”

The communiqué added that London and Caracas “have agreed our intention to upgrade our representation to Ambassador,” emphasizing that the step aims to deepen engagement with Venezuelan authorities and enhance support for British corporate and trade interests.

The Venezuelan government welcomed London’s decision. In an official communication published on Tuesday, the government led by Acting President Delcy Rodriguez celebrated the upgrade in diplomatic status as a positive step toward normalization.

Venezuelan officials stressed that the latest decision should pave the way for the full “sovereign management of the Venezuelan people’s resources,” referencing state assets frozen in British financial institutions.

National Assembly President Jorge Rodríguez and Foreign Minister Félix Plasencia flew to London and held a meeting on Tuesday with Harriet Thompson, the British Foreign Office’s Director for the Americas.

Following the discussions, Rodríguez highlighted progress in multi-sectoral talks and economic outlooks. 

“We shared Venezuela’s position regarding political and social dialogue, as well as the progress made regarding oil and gas investments, and how this will translate into significant and rapid economic growth for Venezuela,” he said in a message published on social media.

Rodríguez added that the talks aimed at promoting national peace and political reconciliation, labeling them as “good news for our country and our people.”

Bilateral relations between London and Caracas had been severed for years following former UK Prime Minister Theresa May’s decision in 2019 to follow Washington in recognizing opposition figure Juan Guaidó’s self-proclaimed “interim government.”

That policy led to a protracted legal battle over 31 tons of Venezuelan gold reserves stored in the Bank of England, with successive British governments refusing to return them to Caracas. The reserves are currently valued at over US $4 billion.

During the COVID-19 pandemic, Venezuelan authorities attempted to retrieve the gold through international legal channels, offering to transfer the funds directly to the United Nations Development Programme (UNDP) to purchase emergency medical supplies and food.

However, British courts repeatedly rejected the legal challenges from the Central Bank of Venezuela (BCV), citing No. 10’s political recognition of the opposition parallel administration.

Following renewed political talks in August and September, a Venezuelan government delegation and representatives of the defunct, opposition-controlled 2015 National Assembly agreed to request the release of the UK-held gold reserves under US Treasury Department control and oversight.

According to opposition dialogue delegates, the 31 tons of gold will be transferred into a specialized US Treasury bank account and subjected to external audits by foreign accounting firms before being released.

The funds are reportedly earmarked for housing, healthcare, and infrastructure recovery in the wake of the June 24 double earthquake that left over 6,500 people dead across Venezuela.

Edited by Ricardo Vaz in Lisbon, Portugal.

After claims she is sexualising women’s sport, the criticism of Sydney Sweeney’s new advert is growing and TeamGB golden girl Amy Hunt explained why she has spoken out

Athletes have come out in force to condemn a sports betting advert featuring a naked Sydney Sweeney as Team GB’s golden girl doubled down on her criticism.

The American has been slammed following the campaign, which sees the 29-year-old with no clothes on as she pretends to play a number of different sports. The ad, for US sports prediction market company Novig, has been bashed with many suggesting sportswomen are still being defined by their appearance – and not their achievements.

British sprinter Amy Hunt, the four-time European champion, made a cutting comment after her race at the inaugural World Athletics Championship in Budapest on Sunday, saying: “Sydney Sweeney, this is what women in sport look like,” in her interview with BBC Sport after.

She is far from the only athlete hitting out. Sydney’s decision to take part has been widely criticised, with retired swimmer Ariarne Titmus saying she understood this type of “bulls**t”marketing” to be a thing of the past.

Water polo silver medallist Tilly Kearns joined the anger, saying, “I absolutely f***g hate Sydney Sweeney’s new sports ad”, while world champion boxer Skye Nicolson said the ad was making a “mockery” of women in sport.

Amy has spoken more about her decision to join the outrage, and appeared on Good Morning Britain to discuss her post-race remarks.

Telling presenters Susanna Reid and Ed Balls about her reasons for speaking out, the star sprinter said there are already enough barriers in place.

“I think when we’re trying to provide role models for young people and young women in sport,” she said. “We really want to show that it’s about what your body can do, not so much what it looks like. I think when we see the stats of 64 per cent of young girls drop out of exercise and sport before they reach the age of 16.

“We don’t need to place any kind of barrier whatsoever in their way in terms of providing the opportunity and the empowerment for them to still exercise, whatever that looks like, professional or kind of just going to do a park run with your friends.

“So it’s about empowering young girls and young women and young people to show that you really can just get out there and you don’t have to worry what you look like. You don’t have to worry about what you’re wearing.”

When grilled on whether the ad could impact how men view female athletes, she agreed and went on: “That was a big thing this year for us with the introduction of new kind of broadcasting regulations, in showing the correct or the more appropriate angles of women competing.

“It’s important to show kind of young people that it’s okay to be whoever you want to be, to wear whatever you want to wear, to look however you want to look, and you can achieve your dreams.”

While some suggested anger should be directed at the betting firm rather than the Euphoria actress, Novig said in a statement that Sydney is not just the face of the campaign, but has joined as “strategic partner and equity holder”.

Sydney finally responded and in a statement, said the campaign was “about embracing a fun idea”. She went on: “The concept is simple: cut through the noise and put the focus entirely on sports. The campaign brings that idea to life with confidence, humour and a playful edge.”

Watch Good Morning Britain weekdays from 6am on ITV

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MEGAN Stalter has shocked the Emmys red carpet, transforming into a literal golden statue for the 78th awards ceremony.

The Hacks star turned heads in a gold bikini and matching body paint for the night’s boldest look.

In true eccentric style, Stalter covered herself head-to-toe in gold, complete with angel wings and a golden orb.

Stalter arrived with her Hacks co-star and bestie Paul W. Downs, who wore a sharp black tux.

The 35-year-old is up for Outstanding Supporting Actress in a Comedy for playing Kayla Schaefer in the fifth and final season of HBO Max’s Hacks.

It is her first Emmy nomination.

DRESS FOR DRAMA

Zendaya debuts dramatic pixie cut as Brooks Nader wows on Emmys red carpet

Kayla, the over privileged and clueless assistant on the HBO’s hit series, was her first acting job.

Stalter is no stranger to outlandish red carpet attires.

In January she attended the Critics Choice awards with her co-star, mimicking Kylie Jenner’s all-orange look which she had worn with boyfriend Timothy Chalamet to the Marty Supreme premiere.

At last year’s Emmys, the actress opted for a simple pair of jeans and a T-shirt – in a deliberate non-statement.

In 2025 at the Las Culturistas Culture Awards, she wore a corset-style top made from actual Diet Coke packaging.

In April, the actress told Marie Claire: “Every red carpet appearance or anything that I get to do in front of people, I want to have fun and make the most of it because it’s my dream.

“We worked really hard to get here, and now I want to enjoy it.”

Stalter is up against her castmate Hannah Einbinder, who won the category last year, plus Janelle James for Abbott Elementary, Michelle Pfeiffer for Margo’s Got Money Trouble and Jessica Williams for Shrinking.

One amused commenter reacted to her look and said: “If they don’t give her the statue, she IS the statue.”

Hacks recently wrapped its fifth and final season which is up for 24 Emmy nominations at this year’s ceremony.

It is the second most nominated show this year, just trailing one award behind The Pitt.

This years Primetime Emmy Awards are being held at the Peacock Theater in Los Angeles.

It will air on NBC and Peacock and is hosted by Mariska Hargitay.

Central banks’ record, price-insensitive gold buying is a more credible signal of the dollar’s structural trajectory than this year’s currency markets, because FX markets are structurally bad at pricing the discontinuous, wartime-style tail risk central banks are actually hedging — so this autumn’s calmer dollar should not reassure anyone that de-dollarization has stalled.

In June, the European Central Bank made an announcement most people missed: gold has overtaken US Treasuries as the world’s single largest reserve asset. Central banks bought 289 tonnes of it in the second quarter alone — a record for that quarter and five times Q1’s pace — with Poland’s central bank openly telling investors it was “buying the dip.” Here is the part that should stop you: gold’s price fell 22% between January and September. Central banks were never more convinced buyers of an asset than while it was crashing. Either the reserve managers are wrong, or currency markets — which show none of this urgency — are the ones asleep at the wheel.

Gold peaked at $5,589 an ounce on 28 January, the same month the dollar index hit a four-year low of 95.5 and the dollar’s share of global reserves fell toward its lowest level since 1995. Both moves reflected the same story: Fed rate cuts through 2025, a US debt load past $37 trillion, and BRICS states settling more trade outside the dollar. Then the picture split. Kevin Warsh, confirmed as Fed chair in May, signalled a hawkish pivot in August; the Iran war pushed oil and inflation higher through September, and markets began pricing a rate hike rather than a cut. The dollar index clawed back to 99.46. Gold fell to $4,330. Central-bank buying did not follow the price down — Poland alone added 82 tonnes this year toward a 700-tonne target, and a World Gold Council survey found a record 45% of central banks plan to buy more within twelve months.

State the gap plainly. Two signals, same underlying question — is the dollar-centred monetary order changing — and they disagree by a wide margin. The buying signal says yes, decisively: record quarterly purchases, gold displacing Treasuries at the ECB’s own reckoning, 74% of surveyed reserve managers expecting the dollar’s reserve share to keep falling over five years, and buyers adding tonnage through a 22% drawdown rather than fleeing it. The price signal says not yet: the dollar just posted one of its sharper rallies of the year, gold is down sharply from its high, and nothing in currency markets shows the kind of stress a genuine regime shift would produce.

The strongest objection to trusting the buying signal is a good one, and it needs to be taken seriously rather than waved away: foreign exchange is the deepest, most liquid market in the world, turning over more than $7 trillion a day. A few hundred tonnes of central-bank gold buying — perhaps $30–40 billion a quarter — is a rounding error against that. If professional currency traders, sitting on far more capital and far better short-term information than a handful of reserve managers, saw a serious de-dollarization story unfolding, it would already be in the price. Instead the dollar just rallied. On this view, central banks are not seeing something markets are missing; they are pattern-matching off 2022, when Russia’s $300 billion in reserves was frozen overnight, and over-hedging a tail risk that has not recurred and mostly will not.

That objection assumes FX markets and central-bank reserve committees are pricing the same kind of risk, on the same time horizon, and they are not. Currency markets are exceptionally good at pricing continuous, high-frequency variables — rate differentials, growth surprises, this week’s inflation print — because that is what moves flows daily. They are structurally poor at pricing discontinuous, low-probability events until those events occur: equity volatility did not price 2008 in 2007; sovereign spreads did not price the Russia reserve freeze in the weeks before it happened. A reserve freeze, a secondary-sanctions campaign, or exclusion from SWIFT-style settlement infrastructure is exactly that kind of event — binary, rare, and catastrophic for whoever it hits — which is precisely why Poland’s central bank governor, Adam Glapiński, described his buying not as a trade but as insurance: reserves that keep the state secure “under all circumstances, including wartime, which of course we’re not expecting.” That is not the language of someone chasing momentum. It is the language of someone who manages the one asset class that keeps its value if their country is ever cut off from the dollar system, and who would rather hold it and be wrong for a decade than not hold it and be wrong once.

The buying pattern itself supports that reading. Momentum money sells into a 22% drawdown; insurance money adds to it. Central banks did the latter through the first half of this year, which is the behavioural signature of a structural reallocation program with a fixed multi-year target — Poland’s is explicit, 700 tonnes — not speculative flow riding gold’s rally. Meanwhile the dollar’s autumn recovery has an identifiable, largely cyclical cause: a new, more hawkish Fed chair and a war-driven oil shock forcing a rate-hike repricing. Neither event reverses the debt trajectory, the BRICS settlement trend, or the reserve-freeze precedent that pushed the dollar to a four-year low in January. A rally built on this year’s Fed chair and this year’s war is not proof that last year’s structural story is over; it is evidence that a cyclical force is currently strong enough to mask it.

The Scenarios

Base case (55%): The gap persists rather than resolves. The dollar holds most of its autumn gains through the current rate-hike cycle, gold range-trades below its January peak, and central banks keep buying at a steadier, slower pace toward stated targets like Poland’s 700 tonnes. Nobody is “proven right” on any particular Tuesday, because reserve diversification is a decade-scale hedge, not a trade with a catalyst date. This is the least satisfying outcome for anyone wanting a verdict, and the most likely one.

Downside case (for dollar holders): A discrete trigger — a fresh reserve-freeze or secondary-sanctions episode, plausibly connected to the still-live US-Iran war spilling into action against a third country’s assets, or a shock to Fed independence under a more political Warsh chairmanship — crystallizes the exact tail risk central banks have been hedging. Gold spikes back through its January high, the dollar index breaks below its 95.5 low, and the gap closes in weeks rather than years, vindicating the reserve managers all at once and catching FX markets flat-footed exactly as the theory predicts.

Upside case (for the dollar): The Iran war resolves, Warsh’s rate hikes cool inflation without a recession, US fiscal metrics stabilize, and BRICS local-currency settlement growth stalls on friction between its own members. Central-bank gold buying does not reverse but plateaus as reserve managers hit conventional diversification ceilings — most target 15–20% of reserves in gold, not open-ended accumulation. The gap closes gradually as price drifts up toward the buying signal over several years, with no crisis required to force the reconciliation.

The Takeaway

The dollar’s calmer autumn is not evidence the de-dollarization hedge was a mistake; it is evidence that currency markets and central-bank reserve committees are pricing two different things on two different clocks, and only one of those clocks rings in a crisis. Central banks bought through a 22% drawdown because the point of the position was never this quarter’s return.

Watch for: the World Gold Council’s Q3 2026 Gold Demand Trends report, expected in early November. A third consecutive quarter of buying that ignores price direction will confirm this is policy, not opportunism — and the moment currency markets have to agree with that policy will not be a quiet one.

I wasn’t sure what to expect from an autumn trip to Finland, my first ever to the country, but spending an afternoon sprawled on a deck chair beneath blazing blue skies certainly wasn’t part of it. After a morning walking beneath the leafy canopy at the Mustila Arboretum – the oldest, most extensive botanical garden in the country – and a lunchtime wine-tasting (more of which later), my friend Sara and I pitched up at the Sahanlahti resort, deep in the Finnish Lakeland, only to find sun-drenched scenery that felt far more Mediterranean than Nordic.

Sahanlahti was the second stop on a mid-September road trip from Helsinki to the shores of Lake Saimaa; a journey in search of ruska, the spectacular autumn colours that blaze for a few short weeks before the long Finnish winter sets in. However, on our opening drive east from the airport to the Radalla resort, set on Lake Urajärvi, most of the thousands of trees we drove past were resolutely green, with just the very tips of the leaves tinged with auburn, like a foliage balayage.

“You’re too early,” the waitress told us, cheerfully, after we had checked in to our chic waterfront cabins, and were tucking into hefty plates of crispy garlic chicken, scattered with freshly picked chanterelles, in Radalla’s quiet dining room. “But you might get some sun tomorrow.” Later, walking back to our cabins through thick drizzle, we agreed she was most probably just being kind.

The Radalla resort is just one of dozens of lakeside hotels scattered across southern Finland – many with self-catering cabins, sauna complexes and gleaming metal steps that lead from wooden piers down into the chilly waters of the lake. The grey drizzle we awoke to made a dip less than appealing, and instead we decided to set off for our next stop, taking in the arboretum en route before finding a place for lunch.

Driving in southern Finland turned out to be quite different from other countries. Most settlements fringe the lakesides, so they tend to be tucked away down side roads leading off from the main highway. Instead, trees – those resolutely green trees – rolled past us for mile after mile, until slowly the fields began to melt into lakes, one after another, the road snaking alongside the blue-grey waters, or stitching together small islets that lay scattered between them.

Googling somewhere for lunch, Sara came across the Ollinmäki winery, an unexpected find in a country that grows absolutely no grapes. Instead, berry wines are hugely popular, and once settled in at our table, we were persuaded to try a flight of six, accompanied by a bowl of hearty elk soup (which tasted considerably better than it looked) and a leaf salad with local cheese. One wine, the white currant and berry Myllärin Matti was particularly delicious, with the tang of a crisp sauvignon – although I wouldn’t want to find out what a Finnish hangover feels like.

From the winery it was an easy drive to Sahanlahti, by which time the weather had cleared and pin-sharp blue skies gleamed above the shores of Lake Saimaa. The main house – painted butterscotch-yellow and dating back to the mid-18th century, when the owners presided over the local sawmill – had a languidly old-fashioned air, but dinner at the Koskivahti restaurant was anything but: rich mushroom soup, slivers of goose confit with lingonberry sauce, wafer-thin beetroot carpaccio with tangy goat’s cheese.

It might have been too early for the leaves to turn, but we had arrived right in the middle of harvest season, when heading out into the fields and islands to pick wild mushrooms and berries (of which there are 35 different varieties) is practically a national sport. We had barely set down our bags at our final stop, Järvisydän resort, before we were whizzing out across Saimaa on a small motor boat, baskets tucked between our feet, to hunt for chanterelles and look for rare ringed seals and ospreys.

The sky was flawlessly blue as we whipped across the water, disembarking first to pick the mushrooms – slashes of bright yellow among the green undergrowth. We were guided in our harvesting by Sebastian, the 12th generation of the Heiskanen family to be running Järvisydän. “Back in 1654,” he told us, “my family were given a portion of land by the Russian tsar, to build a tavern on the route between St Petersburg and Helsinki.” More than 350 years later, the tavern has morphed into a 100-room resort, offering everything from starkly modern glass-walled cabins, high in the forest, to hexagonal log houses with bedrooms set off a central, fire-lit atrium, and camping pods.

It’s an extraordinary place: everything – from the vast reception, dwarfed by a replica Viking longship hull hung above reception, to the restaurants, bar and the Hobbit-like spa – is built entirely from local stone and timber. A visit to the spa seemed the perfect way to warm up after our chilly boat trip, with six different saunas to dip into – although the “sunken log” sauna, where the temperature reached 70C, gave me some sense of how an ice-cream might feel if left out in the sun.

Of the three resorts we visited, Järvisydän was the standout – for its history, for the spectacular scenery of Lake Saimaa that surrounds it, for the delicious mushroom soup and for the long, sunlit walk we took on our final afternoon, through the dense pine forest, where red squirrels skittered around in the branches above. It was a wrench to leave on our last morning, but as we sped back along quiet roads to Helsinki, we agreed Finland had – in spite of our foliage fail – outstripped our expectations. It was more beautiful, more peaceful, more sunkissed than we could ever have imagined.

Ruska (the vibrant colours of autumn foliage) begins in the north of the country in early to mid-September, reaching the Lake Saimaa region in the south by early October.

The trip was provided by Discover the World. A four-night bespoke self-drive trip staying at Radalla, Sahanlahti and Järvisydän resorts starts at £794pp, including B&B and car hire, but not flights.

A UCLA linebacker shells out $11,100 to help a Republican senator in Pennsylvania.

A businessman from the small Northern California town of Eureka spends $515,000 to defeat a powerful Democrat in South Dakota.

A Silicon Valley couple funnels cash to elect Democratic secretaries of state in swing states like Ohio who will oversee voting in the coming presidential election.

Those tidbits from campaign finance reports demonstrate why California lately feels like Iowa or New Hampshire next winter. For politicians, including presidential candidates, it’s where the money is.

Last week alone, Democratic Sens. Barack Obama of Illinois, Hillary Rodham Clinton of New York, Christopher J. Dodd of Connecticut and Joseph R. Biden Jr. of Delaware made the trek. Republican Sen. John McCain of Arizona was also here, following his rival, former New York City Mayor Rudolph W. Giuliani, who had been here the week before. Former Massachusetts Gov. Mitt Romney, another Republican contender, will be here next month.

“It is the place you go to get political money,” said Sheila Krumholz, director of the nonpartisan Center for Responsive Politics in Washington, D.C.

Californians spent at least $502 million on federal campaigns in the last four years, federal campaign records show — 24% more than runner-up New York and about 13 % of all federal campaign funds raised nationally.

At The Times’ request, the center compiled a list of California’s top 100 donors to federal campaigns. The Times interviewed contributors and reviewed Federal Election Commission documents and other records.

The donors gave during the 2003-2004 election cycle, which included the latest presidential campaign, and the 2005-2006 races for the U.S. House and Senate.

Donors’ motives vary. They might be trying to gain an edge in business, or access to powerful officials. Some win perquisites, such as ambassadorships. Many are ideologues whose passions run high on the war or healthcare or taxes.

Federal law restricts donors from giving more than $4,600 directly to a single candidate in a year. But many give far larger sums to independent campaign committees. Others leverage their money by organizing fundraising events.

In the past four years, Deborah Rappaport and her husband, venture capitalist Andrew Rappaport, of Woodside, have spent $5.2 million on federal politics, much of it to encourage young people to vote. They held a fundraiser for Democratic presidential candidate and former Sen. John Edwards of North Carolina this month, raising more than $100,000.

“The stakes are huge,” Deborah Rappaport said, describing herself as “an old lefty.”

In one of the more unusual uses of campaign money, Silicon Valley Democrats Michael and Frances Kieschnick helped fund a successful campaign in 2006 to elect Democrats as secretaries of state who will oversee balloting in five swing states — a reaction to what some perceived as bias by Republican officials in Florida and Ohio in the 2000 and 2004 presidential vote counting.

Los Angeles-area developer Rick Caruso has a goal of raising $1 million for Romney’s bid for the Republican nomination.

“I’m on a big Republican list,” said Caruso, who has given $315,000 since 2003 to federal campaigns. “Politicians … never lose your number.”

Californians had a significant role in the 2006 fight for control of Congress, donating $6.6 million directly to candidates in the six U.S. Senate races that tipped control to Democrats, campaign records show.

In Montana, Democrat Jon Tester ousted Republican Sen. Conrad Burns by 3,600 votes, aided in part by Richard and Marilyn Mazess of Montecito. They gave $50,000 to the independent group Campaign Money Watch, which aired a commercial ridiculing Burns for his ties to “big oil.”

Hollywood moguls Steven Spielberg and Jeffrey Katzenberg and other Californians donated a total of $500,000 directly to Tester. Burns collected $460,000 from such Californians as Los Angeles venture capitalist Elliott Broidy and Edward Atsinger III, of Camarillo, chief executive of Christian radio network Salem Broadcasting.

“The money — the California and New York money — was very important to Tester,” said political scientist Craig Wilson of Montana State University, Billings.

In addition to familiar California sources of political money — defense, energy and aerospace companies, developers, unions, Hollywood and Silicon Valley — the top donors include numerous lawyers, heirs and heiresses, and little-known financial, agricultural and other players scattered around the state.

(Among the big-name donors who don’t make the latest list: Hollywood mogul David Geffen and investor Ronald Burkle.)

California is widely seen as a bastion of Democrats. But its greenbacks often are shaded Republican red.

Robin Arkley, who owns a finance and real estate firm in Eureka, had a hand in upending the Democratic power structure nationally in 2004. The Republican spent $515,000 on independent campaign ads attacking then-Senate Minority Leader Tom Daschle of South Dakota. Daschle was ousted by Republican John Thune, who raised $1.29 million from California, more than any other state — including South Dakota, according to Political Moneyline.

For the 2006 election, Steven B. Taylor, a retired farmer from Salinas, his wife and their three adult children spent heavily on the GOP.

One of the Taylors’ sons, Christian, plays football for UCLA. He donated $45,000, much of it to such Republicans as Sen. Rick Santorum of Pennsylvania. Altogether, the Taylor family gave Santorum $14,700.

There was one exception to the Taylors’ Republican ways. They gave $20,000 to the Green Party of Luzerne County, Pa., including $9,000 from Christian. The goal: to help a Green Party candidate take votes from Robert P. Casey Jr., the Democrat challenging Santorum. The strategy failed and Casey unseated Santorum.

The Taylors did not return calls.

In addition to directly raising millions for President Bush, the state’s Republicans have funded Progress for America, a group based in Washington that has countered the liberal MoveOn.org. In 2005, it aired television ads urging senators to confirm John G. Roberts Jr. for the Supreme Court. It also has run ads supporting the war in Iraq.

A. Jerrold Perenchio, chairman of Univision, the Spanish-language television network, has given the group nearly $10 million since 2003. Stockton developer Alex G. Spanos gave another $5 million, as did Los Angeles billionaire Roland E. Arnall and his wife, Dawn. Caruso chipped in $100,000 to help Roberts, now chief justice.

Bush has bestowed ambassadorships on five Californians, including Los Angeles car dealer Robert H. Tuttle, United Kingdom; Orange County investor George Argyros, formerly to Spain; Los Angeles venture capitalist Ronald Spogli, Italy; and investor Frank Baxter, Uruguay. Combined, they have given $1.6 million to the GOP since 2000, including donations to Bush’s inaugurals.

The fifth, Arnall, is the biggest donor-ambassador. He represents U.S. interests in the Netherlands. Since 2004, Roland and Dawn Arnall have given $5.5 million primarily to Republican candidates and organizations, and another $1 million to Bush’s 2005 inaugural. Arnall owns home mortgage lender Ameriquest Capital Corp.

Los Angeles movie producer Stephen L. Bing was the state’s largest single donor, with nearly $14.2 million, to federal campaigns during the past four years, most of it to Democrats. Bing, who declines interviews, spent another $49 million on a failed California initiative in 2006 to boost alternative energy. He likely will support Clinton’s candidacy.

Clinton has taken $7.7 million from here for her U.S. Senate campaigns, second only to the $26.5 million she has raised in her home base.

After Illinois, California has been the second largest source of money for Obama, Federal Election Commission records show.

Sacramento Democrat Eleni Tsakopoulos-Kounalakis and her father, Angelo Tsakopoulos, have helped organize events for many Democrats, but are “Hillary people all the way.”

“We want to see the White House restored to competent hands,” she said.

She explained her family’s political involvement by telling her father’s story.

He came here at age 15 from Greece with nothing, made a fortune as a developer and hosted a president, Bill Clinton, at his home. Tsakopoulos never could have attained such success in the old country.

These days, Democratic politicians all come courting.

“Everybody calls and we love it,” she said. “What an incredible honor and privilege.”

*

Dan.morain@latimes.com

Times researcher Janet Lundblad contributed to this report.

*

(BEGIN TEXT OF INFOBOX)

Top 20 organizational donors

California corporations, labor unions and organizations include some of the biggest national donors to federal campaigns. Federal law bars corporations and unions from giving directly to candidates. But their executives and employees are free to make donations. Here is a list of the top 20 donors by organization.

*–* Donor Industry Total (millions) Party preference Service Employees Internationa Labor $4.83 Democrat l Union Northrop Aerospace 3.19 Leans Rep Grumman Sierra Club Environment 3.10 Democrat Lerach, Attorney-Plaintiffs 2.09 Democrat Coughlin et al Time Warner Entertainment 2.05 Democrat American Academy of Health Care 1.98 Leans Rep Ophthalmolog y Cisco Systems Technology 1.64 Bipartisan Kleiner, Finance 1.46 Leans Dem Perkins et al Edison Energy 1.24 Leans Rep Internationa l TCW Group Finance 1.23 Republican SAIC Defense 1.22 Leans Rep Morongo Band Native American of Mission issues; casinos 1.16 Bipartisan Indians Chevron Corp Energy 1.13 Republican Allianz Insurance 1.11 Republican General Defense 1.09 Leans Rep Atomics Jacobs Engineers 1.09 Bipartisan Engineering Group Kazan, Attorney-Plaintiffs 0.98 Democrat McClain et al Intuit Technology 0.93 Bipartisan Occidental Energy 0.93 Leans Rep Petroleum Capital Finance 0.92 Bipartisan Group Cos

*–*

Democrat or Republican means at least 80% donated to one party or affiliated candidate or interest group; leans means 60% or more to one party; bipartisan means 40% to 60% to each party. Donations from companies based elsewhere came from California branch.

Sources: Center for Responsive Politics, Times research, federal election records. Graphics reporting by Dan Morain

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Top 20 individual contributors

California is like a magnet to candidates nationally. From 2003 to 2006, Californians donated at least $502 million to federal candidates and national political parties, and to independent campaign groups known as 527s. The top 20 donors are spread from Eureka to

San Diego:

*–* Amount Party Name City Industry (in millions) preference Stephen Bing Los Angeles Real estate $14.18 Dem. heir, film prod Herbert&Mar; Oakland Finance; 13.85 Dem. ion Sandler retired A. Jerrold Los Angeles Univision 9.94 Rep. Perenchio chairman Roland and Los Angeles Ameriquest; Dawn Arnall ambassador 5.52 Rep. to Netherlands Alexander Stockton SD Chargers, 5.48 Rep. G./Faye deve Spanos Deborah/And Portola Valley Venture 5.19 Dem. rew capital Rappaport Ted Waitt San Diego Gateway co-founder, Avalon 5.06 Dem. Capital Anne Getty Corona del Mar Getty heiress 1.63 Dem. Earhart Susie/Mark San Francisco Found Esprit 1.60 Dem. Buell clothing Angelo Sacramento Real estate 1.25 Dem. Tsakopoulos Louise Gund Berkeley Philanthropi 1.24 Dem. st Marcia l. Los Angeles Entertainment 1.24 Dem. Carsey Robin, Cherie, Allison, Elizabeth Eureka Finance, 1.23 Rep. Arkley real estate Peter S. Los Angeles Investments, Bing father of 1.09 Dem. Stephen Wayne B. Glendale Public 1.07 Rep. Hughes Storage Inc. Michael/Fra Palo Alto Fin.,philant 1.07 Dem. nces hropy Kieschnick William/Wil Newport Beach Developer 0.99 Rep. la Dean Lyon Richard/Sha Los Angeles Entertainment 0.96 Dem. ri Foos Stewart/Lyn Los Angeles Finance, ag. 0.90 Dem. da Resnick M. Quinn and Wayne Jordan Oakland Philanthropy 0.67 Dem. Delaney , real estate

*–*

In some cases, immediate family members also donated

Sources: Center for Responsive Politics, Times research, federal election records. Graphics reporting by Dan Morain

The $1 coin designed to celebrate America’s 250th birthday and seemingly President Trump, whose face gazes from one side of the gold finish, will go on sale Wednesday, according the U.S. Mint.

The coin’s design — Trump’s visage as “heads” and the Great Seal of the United States as “tails” — was given the stamp of approval this year by the U.S. Commission of Fine Arts, whose members Trump appointed. In past comments, the president said that the idea to stamp his face on a coin was “very unusual” but that he was “honored by it.”

The president’s second term has come with several such brandings, or attempts at them that have become tangled up in lawsuits. That includes moves to put Trump’s name on the Kennedy Center, as well as the U.S. Institute for Peace, as Trump works to leave his stamp on history and Washington, D.C.

The coins, which can be used as legal tender, stirred some criticism particularly because of federal law that bars the depiction of a living president on U.S. currency. But in some circumstances, the treasury secretary does have authority to authorize the minting and issuance of special coins.

The coins were struck to “honor 250 years of great American heritage,” the U.S. Mint wrote on its website. In an arc above Trump’s face is written “LIBERTY,” and below is “1776 — 2026.” On the flip side is the Great Seal of the United States, with the bald eagle gripping arrows in one claw and an olive branch in the other. In a banner clutched in its beak is written “E PLURIBUS UNUM,” Latin for “out of many, one”

A roll of 25 coins will cost $61, and a bag of 100 will cost $154.50, and the U.S. Mint said they randomly hid some special-issue coins among the rolls and bags. Those will be marked “July 4th,” because they were stuck on that day, the anniversary of the Declaration of Independence.

Households are limited to only two orders, the U.S. Mint wrote, but that cap will lift at 2 p.m. Eastern time on Thursday.

Bedayn writes for the Associated Press.

By Euronews Persian

Published on 02/09/2026 – 14:37 GMT+2•Updated
14:42

The US dollar broke above 2.1 million Iranian rials on Tehran’s free market on Wednesday, setting a new record as the rial lost around 60% of its value against the dollar since the start of the Iranian calendar year in March — when the dollar traded at approximately 1.35 million rials.

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The rial’s slide has accelerated since the US reimposed a naval blockade on Iranian ports in July, following the collapse of a short-lived ceasefire.

The euro hit an unprecedented 2.55 million rials, and the UK pound reached 2,976,000 rials.

The UAE dirham, which serves as the benchmark for pricing the rial on regional markets, reached 600,000 rials for the first time.

One gram of 18-carat gold climbed above 225.7 million rials, and the Imami gold coin — a standard unit of value in Iran — changed hands at 2.26 billion rials.

Iran operates a dual exchange rate system. The official rate, set by the Central Bank and used for state transactions and subsidised imports of essential goods, is significantly stronger than the free market rate available to ordinary Iranians and businesses.

The gap between the two has widened sharply since the war began, with the free market rate now more than double the official rate.

The rial has been in freefall since the US-Israeli strikes against Iran on 28 February launched the ongoing war, now in its seventh month, and has accelerated as Washington has tightened its economic pressure campaign.

The US Treasury has cut off Iran’s access to regional banks, severing one of the Islamic Republic’s main channels for accessing foreign currency and clearing import payments.

The naval blockade of Iranian ports has compounded the pressure by restricting trade routes and reducing Iran’s oil export revenues.

Abdolnaser Hemmati, governor of the Central Bank of Iran, said the bank was ready to inject $2 billion into the foreign exchange market to stabilise the rial. He attributed the latest slide primarily to psychological factors rather than fundamental economic ones.

“The dust created in the foreign exchange market will settle, and the recent increase in exchange rates is driven more by psychological factors than by real economic factors,” he said.

Hemmati acknowledged that inflation had placed heavy pressure on households.

“Although inflation and rising prices have placed heavy pressure on people’s livelihoods and daily lives, and these difficulties are tangible, the Central Bank has been able to control the accelerating pace of inflation by using monetary, supervisory and prudential tools,” he said.

He rejected US claims that Tehran lacked access to financial reserves.

“These claims are completely baseless. The reserves have not been frozen, and the Central Bank has access to stable resources as well as multiple oil and non-oil revenues,” he said, claiming that more than $18 billion in foreign currency had been provided for imports of essential goods, medicines, animal feed and raw materials since March.

He provided no further details to support the figure.

The rial’s collapse is feeding directly into consumer prices. Iran was already experiencing high inflation before the war, while the currency’s further depreciation has raised the cost of all imported goods, raw materials and energy inputs.

Iranians who hold savings in rials have seen their purchasing power roughly halved in less than six months. Gold and hard currency have become the primary store of value for those who can access them.

Iran’s official currency is the rial, although most Iranians conduct everyday transactions in tomans — a colloquial unit equal to 10 rials that is so deeply embedded in daily use that shops, restaurants and property listings quote prices almost exclusively in tomans.

At Wednesday’s free-market rate, the US dollar traded at about 220,000 tomans. The government announced plans in 2020 to formally replace the rial with the toman and remove four zeros from the currency, a redenomination that has not yet been fully implemented.

One of the more remarkable streaks in the history of this nearly century-old racetrack is still alive.

It’s just not the one most people expected.

Gold Phoenix’s bid to join Kelso as the only horses to win the same major stakes race in North America in five straight years ended Saturday evening when the 8-year-old gelding finished fourth behind Test Score and two others in the $300,000 Del Mar Handicap.

“Got beat, I think less than a length, and got stopped there at the top of the lane,” trainer Phil D’Amato said. “That’s grass racing.”

More specifically, it’s grass racing at Del Mar against Graham Motion, the East Coast trainer who in recent years has been more successful here than a margarita concession stand.

Test Score was the eighth horse Motion has sent to Del Mar for a summer stakes race since 2022 — and the eighth to win.

“It’s crazy,” said assistant trainer Alice Clapham, who accompanied Test Score on his trip west. “It’s one of those things you just pinch yourself. You know it’s going to stop at some point but you just go along for the ride.”

Gold Phoenix’s owners know the feeling.

They never expected their gelding to win this race four straight times, an unprecedented feat at Del Mar, but each year since 2022 he found a way, prevailing three times by less than half a length and once by 1¼ lengths.

This time the 11-10 favorite found himself on the wrong side of a five-horse photo finish. He nosed out Mondego but was a head behind Atomic Age, who was half a length behind Atitlan, who was a neck behind Test Score. The winner, a son of Lookin at Lucky who is half Gold Phoenix’s age, paid $7.20 as the 13-5 second choice.

While disappointed, Gold Phoenix’s connections weren’t about to ask for condolences.

“We’re so grateful for everything that he has done, for all of us and the partners,” said Gary Fenton, managing partner of Little Red Feather Racing Stable. “He’s just a really, really special horse and today changes nothing.”

Said Billy Koch, Little Red Feather’s other managing partner: “It just didn’t work out the way we needed it to work out. He tries, though, every time. Can’t say anything but be proud of him.”

Koch said he had a feeling during the race that another win could be problematic. Gold Phoenix was near the back of the pack in the field of 11 until the far turn, when jockey Hector Berrios began urging him. The jockey had to hold him up just a bit as they came around the corner, though he had a clear run once he shifted toward the rail.

Test Score also rallied from behind but had a little smoother journey under Juan Hernandez and outdid the other closers.

“[Berrios] took a chance to go up in there,” D’Amato said. “It got a little tight but once he got through, he battled and we just got outrun.”

The final time of 2 minutes 14.76 seconds for 1-3/8 miles was the fastest since Gold Phoenix’s initial win (2:14.51). As part of the Breeders’ Cup Challenge Series, Test Score earned a fees-paid berth in the $5-million Breeders’ Cup Turf on Oct. 31 at Keeneland.

Fenton said the plan is to give Gold Phoenix another shot in that race, in which he’s finished fourth twice, fifth and 10th and earned $640,000 — about 25% of his career earnings of $2.6 million.

He won’t be the only Little Red Feather horse at Keeneland. Just a half-hour before Gold Phoenix’s race, Iron Man Cal pulled off an 8-1 upset in another Grade 2 race, the $250,000 Pat O’Brien. That win, in 1:22.02 for seven furlongs under Joel Rosario, guaranteed the 4-year-old gelding a berth in the Breeders’ Cup Dirt Mile.