gold

These are the most spectacular lighthouses in California

This is a more obscure destination for the lighthouse aficionado, but hear me out. The moderate five-mile hike around Angel Island — which offers postcard-worthy panoramic views of the San Francisco Bay and Golden Gate Bridge — offers a delightful scavenger hunt for lighthouses.

Since the late 1800s, the island — a former military installation, quarantine station and immigrant processing and detention site — has had three navigational aids. There was a fog bell station with its own keeper on Point Knox, a promontory on the island’s southwest corner; and small lighthouses on Point Stuart (on the western end) and Point Blunt (on the east side).

After your ferry ride from Tiburon or San Francisco, walk past the park visitor center and up the hill to the paved Perimeter Road. Head to the red, abandoned Camp Reynolds hospital and, to the right of it, pick up the Point Stuart Loop, a narrow earthen path that will lead you to a point on the island’s edge. (Watch out for poison oak!) The unmarked Point Stuart Lighthouse, which clings precariously to the edge of the island below the trail, is off-limits and blocked off by a chain-link fence. But if you’re lucky, you can catch a glimpse of its red roof through the fence.

Get back on Perimeter Road and go south to the well-marked concrete remains of the military’s Battery Ledyard. Take a short but steep path down to those ruins and, from there, look at the rocky point below (which is not accessible by foot). Somewhat embarrassingly, I shouted, “Yeah!” when I saw what was still down at the ocean’s edge: the 3,000-pound bronze fog bell installed in 1886.

In July 1906, the wind-up clockwork mechanism that struck that bell malfunctioned as a dense fog rolled in, just three months after the San Francisco earthquake that killed 3,000 people and destroyed much of the city. Ships had been pouring in as the city rebuilt. The female lighthouse keeper, Juliet Fish Nichols, alone in the fog bell station, struck the bell by hand for a grueling 20 hours and 35 minutes at the same rate as the automated mechanism — twice every 15 seconds — until the weather cleared.

After marveling at the bell, take Perimeter Road east toward Point Blunt. From the road, you can plainly see the automated green flash of the Point Blunt Lighthouse, which is operated by the U.S. Coast Guard and off limits to the public.

The loop took me three hours, with stops. Cellphone service is surprisingly great, and I used Google Maps to help find the lighthouses. The welcome center was closed when I visited, but I got three well-earned stamps for my U.S. Lighthouse Society passport from the bike rental stand.

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Great Britain fail to win gold amid worst World Championships return for 20 years

Great Britain and Northern Ireland failed to win a gold medal at a World Athletics Championships for the first time in 22 years, as they secured their joint-lowest overall return since 2005.

GB ended the nine-day competition with a total of five medals, just managing to achieve their target of winning between five and eight.

That was level with their 2019 tally in Doha, while they last won fewer 20 years ago in Helsinki – where they finished with three.

The team’s fortunes were summed up in the event which provided their final medal opportunity in Japan, as the women’s 4x100m relay quartet – winners of Olympic silver last year – finished two-tenths of a second off the podium.

That confirmed Great Britain would fail to win a relay medal, of any colour, for the first time since Paris in 2003.

That was also the last occasion they finished without a gold.

The 64-strong British squad finished 21st in the medal table.

It comes after the team equalled their best haul of 10 medals to finish seventh at the previous World Championships two years ago.

On that occasion, they brought home two gold medals, three silvers and five bronze from Budapest.

They also achieved GB’s best return at an Olympics for 40 years with 10 athletics medals at Paris 2024.

Reflecting on the championships, Great Britain head coach Paula Dunn told BBC Sport: “Definitely a mixed bag. Five medals which is good and I’m pleased to see, and some missed opportunities.

“So it’s time for us to go back sit down with the coaches and athletes, reflect and do a review and see how we move forward.”

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World Athletics Championships 2025 results: Noah Lyles wins fourth 200m gold

Lyles, dethroned as world 100m champion on Sunday as he took bronze, captured gold in his favoured discipline five days later to secure his eighth global title.

He had produced a statement performance in Thursday’s semi-finals, setting the fastest time of 2025 in 19.51 seconds.

After a final where he was just 0.01 seconds slower, he celebrated by raising four fingers to the crowd.

It was at the World Championships two years ago that Lyles asserted himself as the dominant male sprinter on the sport’s biggest stages with three golds in Budapest, before claiming the Olympic 100m title at the 2024 Paris Olympics.

Prior to the championships, Lyles told reporters that he would take bronze in the 100m if it meant he would get 200m gold by breaking Bolt’s world-record time.

He got the gold – but Bolt’s record remains elusive for now.

Lyles’ American team-mate Kenny Bednarek had to settle for silver – his fourth in a row across the last four Olympic and world championships.

Bednarek and Lyles have a tempestuous relationship, and almost came to blows at the US trials when Lyles stared down his opponent in beating him to the 200m title, to which Bednarek responded with a shove.

Bronze went to 21-year-old Jamaican Bryan Levell, with Olympic champion Letsile Tebogo fourth. Britain’s Zharnel Hughes ran a season-best 19.78 for fifth.

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Gold Reserve Files Notice of Objection to Amber Energy Bid and Provides Update on Other Recent Filings in CITGO Sale Process

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) provides an update on three recent filings in the CITGO Sale Process being run by the U.S. District Court for the District of Delaware (the “Court”):

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1. On September 2, 2025, the Company filed a Notice of Competing Objection and Disclosure of Bid Materials in which it confirmed that it is a Competing Objector, and therefore that it will present its Improved Bid to the Court and request that it be approved instead of the $2 billion lower-priced Amber Energy bid. In conjunction therewith, the Company filed bid materials that had not already been filed on the public docket. A copy of the filing will be posted here.

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2. On September 2, 2025, the Company filed a letter with the Court in which it joined the Venezuela Parties’ request that the Court direct the Special Master to serve fully unredacted versions of the transcripts of the Special Master’s August 11 and 13 ex parte conferences with the Court on parties that have signed a confidentiality agreement with the Special Master. A copy of the letter will be posted here.

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3. On August 30, 2025, the Company filed a letter with the Court requesting, in connection with the Special Master’s Updated Final Recommendation, that the Court stay its decision on the Special Master’s request to terminate the Dalinar Energy bid until the Court rules on Gold Reserve’s pending Motion to Strike the Amber Energy bid or, in the alternative, that the Court set a briefing schedule for the Special Master’s request that tracks the existing schedule for objections to the Updated Final Recommendation. A copy of the filing will be posted here.

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A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings.

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Cautionary Statement Regarding Forward-Looking statements

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This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve’s and its management’s intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the “Bid”).

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We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Special Master may not recommend the Bid in the Final Recommendation; an objection to the Bid may be upheld by the Court; the Bid will not be approved by the Court as the “Final Recommend Bid” under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control (“OFAC”), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith

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; the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors’ judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company’s claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. For a more detailed discussion of the risk factors affecting the Company’s business, see the Company’s Management’s Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company’s profile at www.sedarplus.ca.

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Gold surges to record high as central banks turn from dollar to bullion

Published on
02/09/2025 – 13:52 GMT+2


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Gold jumped to a record $3,508.50 (€3,015.08) an ounce on Tuesday, fuelled by expectations of a US Federal Reserve rate cut and mounting uncertainty for investors.

The precious metal is seen as a haven for investors, with demand for it surging when trust in the stability of paper currencies or financial markets dips.

Earlier this year, gold prices surged when US President Donald Trump announced a raft of controversial tariffs against other countries.

Gold’s record-high value underscores deep unease over the global outlook and questions about the Fed’s independence as US President Donald Trump ramps up pressure on policymakers.

Dollar is no longer the ‘gold standard’

The rise in gold prices has come as part of a multiyear rally for precious metals.

Central banks from Asia to the Middle East have been accelerating their purchases for the fourth year in a row, adding a powerful tailwind to prices, with predictions being that at least 1,000 metric tonnes of gold will be purchased by governments for their gold reserves.

The move reveals a decreasing reliance on the US dollar at a time when Washington’s fiscal trajectory and political battles are clouding its standing as the world’s reserve currency.

A survey of 73 central banks conducted by the World Gold Council revealed that 95% of them are expected to increase their gold holdings over the next 12 months, while nearly three-quarters of them are anticipated to shrink their dollar reserves.

China, who is still locked in negotiations with the US over a more favourable trade deal, has been accumulating gold on a monthly basis, recording its ninth straight month of purchases in July.

De-dollarisation will hurt the world’s most reliable currency

For much of modern history, most national currencies were tied directly to gold — namely, governments guaranteed that paper money could be exchanged for a fixed weight of gold they had stored in their reserves.

Everyday transactions were carried out with paper money because it was far simpler than calculating gold values or carrying bullion, while governments backed those notes with gold held securely in their vaults.

After World War II, dozens of Allied nations gathered in Bretton Woods in New Hampshire to host the United Nations Monetary and Financial Conference.

They decided to create the International Monetary Fund and the World Bank, and established a system where the US dollar was pegged to gold at $35 an ounce.

In other words, one dollar represented 1/35th of an ounce. At the time, this peg gave the dollar unmatched credibility because the US then held most of the world’s gold reserves.

It provided stability for global trade and investment for about 27 years, until the US abandoned the gold peg in 1971, collapsing the Bretton Woods system.

Ghosts of Bretton Woods

Bretton Woods collapsed in 1971 when the US deficit and inflation drained gold reserves, making the $35 peg unsustainable.

President Richard Nixon ended dollar convertibility at the time, forcing currencies to float freely.

Once currencies began floating after Bretton Woods, foreign exchange or Forex markets became the arena where their values were set.

Instead of governments guaranteeing fixed rates, traders, banks and central banks now buy and sell currencies against one another, with prices at times shifting by the second.

Now, US policies are once again influencing the gold-buying habits of central banks, and it is particularly symbolic that gold has surged past $3,500 an ounce — an increase of more than 10,000% from the $35 peg set under Bretton Woods after World War II.

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Fin Graham wins fourth successive road race gold at Para-cycling World Championships

Fin Graham won his fourth successive road race World Championship title as Great Britain’s Para-cyclists brought home nine medals from Belgium.

Graham, 25, launched an attack inside the final kilometre and held off France’s Thomas Peyroton Dartet to retain his C3 crown.

His victory came two days after he won time trial bronze in Ronse.

“To win a first world title back in 2022 was a dream come true, so to now be retaining that for the fourth year in a row, is something that I could never have imagined,” he said.

“To do it here in Belgium, with that crowd, was phenomenal. I was made to work for it; it was such a hard race.

“It has finished off a really good week for our squad. Retaining this title, as Paralympic champion, is very special. To race in the rainbow stripes for another year is still a pinch me moment. I’ll never get tired of looking down and seeing the rainbow bands.”

Earlier on Sunday, Sophie Unwin – with her pilot Jenny Holl – won bronze in the women’s B road race, while Morgan Newberry won the same colour in the C5 equivalent.

Those followed silvers for both riders on Friday in their respective time trials.

There was a bronze medal too for Archie Atkinson in the C4 road race, while Felix Barrow finished third in the T2 race.

On Thursday, Callum Russell became the first British man to win a World Championship hand bike medal when he won bronze in the H4 time trial.

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Gold Reserve Provides Update on CITGO Sale Process

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PEMBROKE, Bermuda — Gold Reserve Ltd. (TSX.V: GRZ) (BSX: GRZ.BH) (OTCQX: GDRZF) (“Gold Reserve” or the “Company”) announces that, pursuant to the schedule set by the U.S. District Court for the District of Delaware (the “Court”), the Special Master provided a Notice of Determination of Superior Proposal (“Notice”) to the Company on August 25, 2025. The Notice refers to an Unsolicited Competing Proposal submitted by Amber Energy Inc. to the Special Master on August 22, 2025, that the Special Master determined constituted a “Superior Proposal” under the terms of the Stock Purchase Agreement the Company executed with the Special Master on June 25, 2025.

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The Court has set an August 27, 2025 deadline by which the Company may file a motion to strike or otherwise object to the Notice. Argument on any such motion will be heard by the Court at the rescheduled Sale Hearing commencing September 15, 2025.

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The Notice refers to the Amber Energy bid including, in part, the following:

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“(ii) an additional amount of consideration that would be used (A) to satisfy a portion of the Attached Judgment of Gold Reserve Ltd., f/k/a Gold Reserve Inc. (“Gold Reserve”), or (B) if Gold Reserve declines such proposed consideration, towards satisfaction of other Additional Judgment Creditors as determined by the Special Master in consultation with Amber Energy or as otherwise directed by the Court (the “Additional Consideration”)

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The Company cautions that this “additional amount of consideration” is, in the Company’s view, de minimis in comparison to the total value of the Company’s Attached Judgment and, as stated in the Notice, may not result in the Company recovering any amount on its Attached Judgment.

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The Notice further states:

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PLEASE TAKE FURTHER NOTICE THAT

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, pursuant to section 6.16(d) of the Dalinar SPA, the Special Master has determined in good faith that the Amber August 22 Bid constitutes a Superior Proposal (as defined in the Dalinar SPA) and has provided written notice of this determination, together with the required bid materials, to Dalinar. Pursuant to the Scheduling Order dated August 22, 2025 (D.I. 2110) and section 6.16(d) of the Dalinar SPA, Dalinar has three (3) business days from receipt of such written notice (i.e., until August 28, 2025) to submit to the Special Master any revisions to the Dalinar SPA and the transaction contemplated thereby, if Dalinar elects to do so, which revisions the Special Master will consider in good faith in accordance with the terms of the Dalinar SPA.

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A copy of the Special Master’s Notice will be posted here.

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A complete description of the Delaware sale proceedings can be found on the Public Access to Court Electronic Records system in Crystallex International Corporation v. Bolivarian Republic of Venezuela, 1:17-mc-00151-LPS (D. Del.) and its related proceedings.

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Cautionary Statement Regarding Forward-Looking statements

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This release contains “forward-looking statements” within the meaning of applicable U.S. federal securities laws and “forward-looking information” within the meaning of applicable Canadian provincial and territorial securities laws and state Gold Reserve’s and its management’s intentions, hopes, beliefs, expectations or predictions for the future. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. They are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements contained in this press release include, but are not limited to, statements relating to any bid submitted by the Company for the purchase of the PDVH shares (the “Bid”).

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We caution that such forward-looking statements involve known and unknown risks, uncertainties and other risks that may cause the actual events, outcomes or results of Gold Reserve to be materially different from our estimated outcomes, results, performance, or achievements expressed or implied by those forward-looking statements, including but not limited to: the discretion of the Special Master to consider the Bid, to enter into any discussions or negotiation with respect thereto; the Special Master may not recommend the Bid in the Final Recommendation; an objection to the Bid may be upheld by the Court; the Bid will not be approved by the Court as the “Final Recommend Bid” under the Bidding Procedures, and if approved by the Court may not close, including as a result of not obtaining necessary regulatory approvals, including but not limited to any necessary approvals from the U.S. Office of Foreign Asset Control (“OFAC”), the U.S. Committee on Foreign Investment in the United States, the U.S. Federal Trade Commission or the TSX Venture Exchange; failure of the Company or any other party to obtain sufficient equity and/or debt financing or any required shareholders approvals for, or satisfy other conditions to effect, any transaction resulting from the Bid; that the Company may forfeit any cash amount deposit made due to failing to complete the Bid or otherwise; that the making of the Bid or any transaction resulting therefrom may involve unexpected costs, liabilities or delays; that, prior to or as a result of the completion of any transaction contemplated by the Bid, the business of the Company may experience significant disruptions due to transaction related uncertainty, industry conditions, tariff wars or other factors; the ability to enforce the writ of attachment granted to the Company; the timing set for various reports and/or other matters with respect to the Sale Process may not be met; the ability of the Company to otherwise participate in the Sale Process (and related costs associated therewith

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; the amount, if any, of proceeds associated with the Sale Process; the competing claims of other creditors of Venezuela, PDVSA and the Company, including any interest on such creditors’ judgements and any priority afforded thereto; uncertainties with respect to possible settlements between Venezuela and other creditors and the impact of any such settlements on the amount of funds that may be available under the Sale Process; and the proceeds from the Sale Process may not be sufficient to satisfy the amounts outstanding under the Company’s September 2014 arbitral award and/or corresponding November 15, 2015 U.S. judgement in full; and the ramifications of bankruptcy with respect to the Sale Process and/or the Company’s claims, including as a result of the priority of other claims. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements. For a more detailed discussion of the risk factors affecting the Company’s business, see the Company’s Management’s Discussion & Analysis for the year ended December 31, 2024 and other reports that have been filed on SEDAR+ and are available under the Company’s profile at www.sedarplus.ca.

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Gold will not face tariffs, Trump says in social media post

U.S. President Donald Trump speaks during a press conference in the James S. Brady briefing room at the White House in Washington, D.C., on Monday, the same day he posted on Truth Social that gold will not face tariffs. Photo by Bonnie Cash/UPI | License Photo

Aug. 11 (UPI) — President Donald Trump said Monday in a Truth Social post that there will be no tariffs on gold.

The post said: “A Statement from Donald J. Trump, President of the United States of America: Gold will not be tariffed!”

He did not elaborate further.

Gold futures closed 2.48% lower at $3,404.70 per ounce after the announcement, CNBC reported.

The precious metal hit a record high Friday, after U.S. Customs and Border Protection ruled that 1 kilogram and 100 ounce gold bars from Switzerland would face Trump’s 39% tariff against the country.

These gold bars are used to back contracts on The Commodity Exchange, or COMEX. The exchange is the main futures market for gold, silver and other metals.

The ruling would have applied to any country exporting gold bars to the United States, according to the Swiss Precious Metal Association. So gold bars would have been subject to the prevailing U.S. tariff rate against their country of origin.

The Swiss Precious Metal Association warned Friday that the customs ruling “may negatively impact the international flow of physical gold.”

“The imposition of tariffs on these gold cast products makes it economically unviable to export them to the U. S., thereby eliminating any future trade deficit arising from gold exports,” the press release said.

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U.S. gold futures spike with 39% tariffs on Switzerland enacted

1 of 3 | The price of U.S. gold futures spiked Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars. File Photo by Anatoli Zhdanov/UPI | License Photo

Aug. 8 (UPI) — The price of U.S. gold futures spiked on Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.

Gold on the COMEX, the world’s largest market for gold futures, eclipsed $3,530 on Friday, a 52-week high.

The metal was up $8.10 or 0.23% to $3,461 as of 2 p.m. EDT.

President Donald Trump last month confirmed he would move ahead with his reciprocal tariff policy for countries that had not reached a trade deal with the United States, meaning a 39% duty on Switzerland. Those levies took effect Thursday.

A ruling on the U.S. Customs and Border Protection website confirms the tariffs extend to the gold bars refined in Switzerland. Some analysts had hoped for an exemption. The ruling applies to both the 1-kg and 100-ounce gold bars.

“Both types of bars are used primarily to back contracts on the Commodity Exchange (Comex), but are also sold to jewelers or industrial consumers for manufacturing purposes,” reads the CBP ruling, which came after a New York firm requested clarification on the matter ahead of the tariffs taking effect.

“The back of each bar is lasered with a QR code that serves as a certificate of authenticity, the production date, and a serial number.”

Switzerland is the world’s leading gold refining nation. The country exported more than $36 billion of gold to the United States during the first quarter, making around two-thirds of Switzerland’s American trade surplus.

Swiss Confederation President Karin Keller-Sutter visited Washington this week in an attempt to reach a last-minute deal to avoid the tariffs.

“The Federal Council acknowledged the application of additional tariffs of 39 percent on goods imported from Switzerland into the United States. It remains firmly committed to continuing talks with the United States to achieve a reduction of these additional tariffs on Swiss goods as quickly as possible,” Keller-Sutter said in a statement Thursday.

“To this end, it remains in contact with the American authorities and the affected economic sectors. It will also shortly hold in-depth discussions on possible relief for companies and continuously review the need for further economic policy action.”

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Gold futures rise after report Trump has placed tariffs on gold bars

Published on 08/08/2025 – 11:53 GMT+2
Updated
11:58


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US gold futures hit a historic high on Friday after the Financial Times reported that the Trump administration had imposed tariffs on imports of one-kilo gold bars.

Futures traded on the Comex, the world’s largest gold futures market, were up 0.9% at $3,484.60 an ounce as of around 11am CEST. This came after the futures hit an all-time high of $3,534.10.

The FT said it had seen a letter from the US Customs Border Protection agency, dated 31 July, which stated that one-kilo and 100-ounce gold bars should be classified under a customs code subject to levies. Investors had previously expected these types of gold bars to be exempt from Trump’s tariffs.

In April, Washington had excluded metals like gold, silver, and platinum from broad US import duties, reducing the price of Comex futures as investors ruled out a supply squeeze.

Before this, traders had been buying cheaper foreign gold and bringing it into the US, capitalising on the price difference between US futures and other benchmarks.

So far this year, gold Comex futures have risen almost 34% as investors adapt to geopolitical uncertainty, viewing gold as a secure place to park their money.

In times of instability, gold is considered a safe-haven asset because its value is less volatile than other investments, even when currencies fall.

“Sustained by factors like its safe haven credentials and a weakening dollar in 2025 – this latest development will have gold bugs eyeing the $4,000 level,” said AJ Bell head of financial analysis Danni Hewson on Friday, referring to the FT report.

“The news is more bad news for Switzerland after being hit by a shock 39% export tariff to the US, given it is one of the biggest precious metal hubs globally,” she added.

Gold is one of Switzerland’s most significant exports to the US, and the country sent around $61.5bn (€52.8bn) of gold to the US over the 12 months ending in June.

The tariff report comes as a fresh blow to Switzerland after the US administration announced a 39% levy on its exports last week.

Switzerland’s President Karin Keller-Sutter and other top officials travelled to Washington on Tuesday to try to lower the tariff rate, among the highest imposed by the Trump administration.

The new rate is over 2.5 times higher than the one on European Union goods exported to the US and nearly four times higher than the one on British exports.

It is also steeper than the 31% rate that Trump proposed for Swiss goods when he announced his so-called “Liberation Day” tariffs in early April.

So far, Switzerland’s powerful pharmaceutical industry, which has promised major investments in the US in recent months amid the tariff worries, is exempt from the 39% rate.

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Heartbroken family pays tribute to dad with ‘heart of gold’ who was found murdered on canal bench as man, 38, arrested

THE heartbroken family of a dad found murdered on a riverside bench have paid an emotional tribute following his death.

Robert Brown, 57, was found dead on a canal footpath close to the River Nene in Northampton at around 6.30am last Friday.

He had last been seen visiting a Morrisions supermarket the previous day before he was discovered with fatal injuries on the bench from a wound to his arm.

A 38-year-old man was arrested on Wednesday on suspicion of murder and since been released on police bail pending further enquiries.

Yesterday, Robert’s grieving family paid a moving tribute to the dad – who was also a grandfather – as having “the gift of the gab and a heart of gold”.

His parents and brothers said in a statement: “Rob was quite a character and always full of fun.

“He was our real-life Peter Pan – the boy who never grew up.

“Everyone who knew Rob just loved him.

“He definitely had the gift of the gab and could talk the hind legs off a donkey.

“We would joke that he knew more about everybody else’s business than his own, but that was Rob.

“He had a heart of gold and was always ready to help others.”

More to follow… For the latest news on this story keep checking back at The Sun Online

Thesun.co.uk is your go-to destination for the best celebrity news, real-life stories, jaw-dropping pictures and must-see video.

Like us on Facebook at www.facebook.com/thesun and follow us from our main Twitter account at @TheSun.

Photo of Robert Brown, murder victim.

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Robert’s family described him as having a ‘heart of gold’ in an emotional tributeCredit: SWNS



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Adam Peaty targets four gold medals at 2028 Olympics

Peaty took a break from swimming after winning silver in the 100m breaststroke at the 2024 Olympics in Paris.

He previously took an extended break from sport in 2023 to prioritise his mental health after experiencing a “major, major burnout”.

However, while “the athlete in my head” is missing not competing at the ongoing World Championships in Singapore, Peaty has a clear plan for his return to competition and is training “a lot smarter” as an older athlete.

“I made the call in January or February, when I started to get back into training, that this Worlds wouldn’t be for me because it would be too rushed,” Peaty said.

“I want to be at the [2026] Commonwealth Games. I want to be at the Europeans next year. I’m never going to take my spot for granted – just because I’ve got a world record doesn’t mean I’m going to be there, it’s ridiculous. I’ve got to earn those places, which excites me.

“I did some race prep before I came out here to see where I’m at and we’re in a good place for October World Cups in America and Canada.”

On his training, he added: “If you’d told me 10 years ago I’d be doing a pilates session this morning, I would have said ‘no way’.

“I look back on certain camps and I was chasing numbers, I needed the outputs, the validation. But I wasn’t swimming the smartest in my head in terms of recovery, mental health and the warning signs of what burnout looks like.

“[Now] it’s what I decide. This block [in Los Angeles], I know it’s a holiday so I’m just going to see how I feel. When I get back into England I’m ramping up for the Commonwealth Games – 4km sessions, 4.5km – and that gives me the best results.”

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World Aquatics Championships: Summer McIntosh wins second gold as GB claim diving bronze

Canadian teenager Summer McIntosh won another gold medal on Monday as she bids to make history at the World Aquatics Championships while Great Britain claimed a diving bronze.

After winning the women’s 400m freestyle final on Sunday, McIntosh has a chance to equal Michael Phelps’ record of five individual titles at a single world championships.

Her second final was in the 200m individual medley, and the 18-year-old won in two minutes 6.69 seconds, with American Alex Walsh second and Canada’s Mary-Sophie Harvey third.

Great Britain’s Abbie Wood, 26, finished sixth as McIntosh stayed on course for a full house in Singapore.

The three-time Olympic champion is also set to race in the 400m individual medley, 800m freestyle and 200m butterfly, with the latter being her next event on Wednesday.

British divers Jack Laugher and Anthony Harding won bronze in the men’s 3m synchronised final in what was almost a repeat of last year’s Olympic podium.

They were again third with a score of 405.33, while Mexico’s Juan Celaya and Osmar Olvera were again second (449.28).

But China’s Olympic champion Wang Zongyuan has a new partner, Zheng Jiuyuan, and they proved too strong with 467.31.

Maisie Bond and Lois Toulson were fifth in the women’s 10m synchro final, as was fellow Briton Ben Proud in the men’s 50m butterfly.

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Dragon’s Den star & gold medal-winning athlete took out £100k in fraud loans despite £75k show investment

A DRAGON’S Den winner and former Team GB gold medallist fraudulently used Covid loans to buy himself a £1.8million mansion.

Rick Beardsell illegally pocketed £100,000 worth of taxpayers cash to purchase his home – despite receiving a £75,000 investment during his stint on the BBC show.

Rick Beardsell, British world sprinting champion, on Dragons' Den.

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Beardsell received £75,000 in investments after appearing on Dragon’s DenCredit: Cavendish
Self-portrait of a shirtless man taking a selfie in a bathroom.

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The British world sprinting champion illegally pocketed two Covid Bounce Back business loans to buy himself a £1.8m mansionCredit: Cavendish
Man presenting a lavender ShakerSphere cup.

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Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for twoCredit: Cavendish

The 46-year-old fiddled two Covid Bounce Back loans to buy himself five-bed Holly House in the exclusive village of Prestbury, Cheshire.

Dad-of-two Beardsell was only entitled to apply for one loan worth £50,000, but fraudulently applied for two and greatly exaggerated his annual turnover by up to 23 times.

It came after the world champion sprinter had successfully secured investments from TV Dragons Tej Lalvani and Deborah Meaden for his successful protein shake bottle business, ShakeSphere.

Chester Crown Court heard he applied for the loan to prop up his other company, Sports Creative Ltd, but none of the money went towards the sportswear business.

Prosecutor Geoff Whealan told the court Beardsell made the fraudulent applications to HSBC in December 2020 and then to NatWest in January 2021.

He said: ”The defendant stated on the HSBC form that the turnover of Sports Creative was £485,000 and on the NatWest form said it was £320,000.

“But unaudited financial statements showed turnover for the year end February 2020 was £20,622.

”The turnover was clearly exaggerated to secure the maximum bounce back loan.

“Subsequent transactions showed the bounce back loan funds were not being used for the economic benefit or business purposes of Sports Creative at this time.”

The money arrived in Sports Creative’s account in January 2021, but then almost £400,000 was transferred to Beardsell’s personal Santander account in the space of six months.

Then £431,160.80, including the remaining bounce back loan funds, was transferred to a firm of solicitors for the purchase of Holly House he bought with his wife Ezster.

Mr Whelan added: ”In effect the bounce back loan funds had been used for this purchase.

Shocking moment Dragons’ Den winner Ross Mendham smashes £100k Ferrari after ploughing into bike racks in city centre

“It can be inferred from the defendant’s conduct that it was his intention to use the bounce back loans for this purpose at the time he made the application for it.”

Beardsell, who won two World Records for sprinting, faced three years in jail after he admitted two charges of fraud.

In October 2024, he attended an interview under caution at the Insolvency Services offices.

In a statement he said: ”The guidance pertaining to Bounce Back Loans indicated that the proceeds of such loans may be utilised for any purpose that yields a direct benefit to the company.

”At that juncture, I sought professional advice and was advised that such purposes include, but are not limited to, the coverage of overhead expenses or outstanding liabilities, as well as the investment in company assets or property.

“The funds that were transferred to my personal account constituted a director’s loan and other economical overheads for the business.”

Mitigating, his counsel Nichola Cafferkey explained that the loans had been repaid in full to the banks.

She said: ”The loss of his good character is of some significance in respect of a man who has dedicated his life to his family, his professional entities and also his sporting endeavours.

“These offences were out of character and were committed four years ago.

“He has taken responsibility and repaid the money back. He knows that it’s his own fault.

“He has brought shame on his family and brought shame on himself.

”His wife is also his business partner and concerns that they have had about the ability to provide financially for their young children have been significant.”

The court also heard that Beardsell had suffered a series of medical issues both before and after securing the loans.

Ms Cafferkey continued: “A year prior to the submission of the first loan application, the defendant was diagnosed with an aggressive form of testicular cancer and required surgery and extensive chemotherapy.

“The chemotherapy was successful but led to some significant side effects.

”One of those being vertigo, of which he had a severe episode which required hospitalisation and thereafter there are ongoing long-term issues as a result of that.

Rick Beardsell, British sprinter and Dragons' Den winner, outside a courthouse.

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Beardsell was sentenced to 18 months in prison, suspended for two yearsCredit: Cavendish
A scene from Dragons' Den showing entrepreneurs pitching to investors.

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Hundreds of thousands of pounds were transferred to a firm of solicitors for the purchase of Holly HouseCredit: Cavendish

“The investigations brought on by the defendant’s own actions has had an impact on his family which has led to a situation where he has been experiencing significant stress over the past few years.

“On top of that there are ongoing knee pains associated with his athletic success at national and international level.

“He has been running a business for many years without issue and it is plain he is extremely remorseful and regretful for his actions.

“The impact on his wife’s physical health in terms of stress and strain has been significant. There has been significant weight loss and insomnia.

“This will be the only time that Richard Beardsell appears before the court.”

Beardsell was sentenced to 18 months in prison, suspended for two years.

He was also ordered to complete 250 hours of unpaid work and pay costs of £11,142.70.

Judge Simon Berkson told Beardsell: “You fraudulently lied and lied again in your applications for these loans.

“They were supposed to be for use in keeping your business running but the money was used for your own personal needs and the needs of your family.

“This is not a victimless crime. The government was trying to help struggling businesses at the time of national crisis.

“People were in lock down, people were dying and people were very ill at the time when people required their public services.

“You used fraudulently obtained public funds for your own use, depriving honest people of the scheme’s funds when the country was in crisis.

“You are a generally successful man both in business and in sports, particularly your involvement with athletics.

“You continue to run your business and it was on the TV programme Dragons’ Den.

“You are a married person with two children and they are young children. You have survived an aggressive form of cancer.

“I have concluded that an immediate custodial sentence would have a significant harmful impact on your wife and children.”

Rick Beardsell on Dragons' Den, surrounded by protein shakers.

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He was ordered to complete 250 hours of unpaid work and pay costs of £11,142.70Credit: Cavendish

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Joshua Tree’s hotly contested music scene gets a new gem in Mojave Gold

Out on the moody, flame-licked front patio of Mojave Gold in Yucca Valley, Ryan and Alexis Gutierrez took in their first goth show in their new neighborhood.

The couple had just moved to the high desert from the Inland Empire, and given the considerable face tattoo count between them, they’d been looking for some witchy fellow travelers.

After watching the electro project Tantra Punk’s set — a singer marauding across the stage, fogged over with blood-colored lights — the couple passed by a merch booth hawking fresh herbs planted in tiny metal pots. The two were pleasantly surprised they’d found their people here.

“I didn’t even know there was a scene for this out here,” Alexis said. “I literally just passed this place and thought it looked hip. We used to drive to San Diego for something like this.”

“It’s kind of slower out here in the desert, but there’s things like this that make it fun,” Ryan said, “Being in the alternative scene, having shows like this is really important to us.”

The six-week-old Mojave Gold is the most promising new entry in a desert music scene that, lately, has seen its share of high-stakes ownership drama at venues like Pappy & Harriet’s and the Alibi. Mojave Gold’s owners are betting on a more permanent, independent-minded scene for local acts and edgier nightlife in its wake.

“A part of why we moved here 10 years ago was that there are so many amazing musicians, and a lot more people live here now,” said the venue’s co-owner Cooper Gillespie. “I’m like, ‘Yes, bring on all the amazing music venues and new places for the music community to be.’”

The bar inside the nightclub is decorated in gold colors at Mojave Gold.

The bar inside the nightclub is decorated in gold colors at Mojave Gold, a brand new music venue near Joshua Tree that’s counting on a continued interest in year-round nightlife in the fast-gentrifying area.

(Gina Ferazzi / Los Angeles Times)

While Joshua Tree is famous for its rough-and-tumble (if sometimes set decorated) roadhouse aesthetic, Mojave Gold looks more like it zigged left up the 111 from Palm Springs. A black and gilt disco vibe permeates the 500-capacity space, from the undulating wood ceiling made from salvaged Hollywood Bowl seats to velveteen booths and a winking poster advertising Quaaludes.

“There’s a purposeful make-out corner,” said Mojave Gold’s interior designer Brookelyn Fox, wryly arching her eyebrows toward the rear of the venue.

Mojave Gold’s attached restaurant is worth a visit in its own right (a cactus and citrus ceviche, charred cauliflower steak and a chocolate mole custard looked especially eye-catching). But in a small town with an outsize presence on the region’s music scene, it could help turn the area into a year-round tour stop in its own right and become a new festival-season mainstay.

“If you’ve got all these bands playing Coachella every year, well, only one of them is going to be able to play Saturday night at Pappy’s,” said Dale Fox, who manages the venue’s financing. “Now, there’s another place.”

Landers residents Gillespie and her Mojave Gold co-founder Greg Gordon are both former Pappy’s employees, working under longtime owners Robyn Celia and Linda Krantz. They suspected there was room for more live music than that beloved and hotly contested venue could handle year-round. They had their eyes on the former AWE Bar space since it closed after a brief run in 2023, with ambitions to rebuild it into a locals-first venue.

 Patrons gather in the outdoor patio adjacent to the nightclub at Mojave Gold.

Patrons gather in the outdoor patio adjacent to the nightclub at Mojave Gold.

(Gina Ferazzi / Los Angeles Times)

“The space and the time we’ve had is so much more than we could have done in L.A.” Gillespie said. “Everything takes a lot of time and money in the city, and out here, I feel like there’s a lot more space in all aspects of your life to create. We’ll have national acts, but also bring up our local talent and give them opportunities to have a place to call their own.”

They got lucky when Liz Garo, the talent buyer for the late, lamented Alibi in Palm Springs, was unexpectedly free and looking for a new project in the area after decades booking the Echo, Regent and other venues in Los Angeles. The shows so far have spanned the modern desert’s full range of scenes — country dance nights, the scuzzy punk of Throw Rag, cabaret drag acts and gothic folk from Blood Nebraska.

“It was a part of some music scenes where you didn’t even know who’s playing, but you went to the Echo because you knew all your friends were going to be there,” Gillespie said. “That’s what we want this place to be.”

Mojave Gold arrives as a new crop of nightlife spots have opened to serve both desert lifers and newcomers to the small towns near Joshua Tree National Park. The Red Dog Saloon, Más o Menos and the ad hoc gay bar Tiny Pony Tavern have found their footing for more ambitious desert nightlife. There’s still room for more, Gordon said.

“The big surprise for me when we opened, is that there was not one moment where I felt a sense of competition,” Gordon added. “None of the other restaurants or venues had this kind of cutthroat mentality. There’s no zero-sum thinking. I think we’re still so young out here that … everybody adds something to the market.”

Patrons dance to music at the new Mojave Gold music venue.

Patrons dance to music from local artists on Desert Gothic night at Mojave Gold.

(Gina Ferazzi / Los Angeles Times)

But passions about development run deep out here, especially after the pandemic-fueled boom in property flipping. The sad fate of the now-shuttered Alibi, the brutal court skirmish over Pappy’s and the gleaming nearby Acrisure Arena (which just landed the kickoff date and sole SoCal stop of Paul McCartney’s tour) prove that moneyed interests still have their eye on the area’s land and cultural scene.

For now though, the string of little desert towns are happy the Airbnb flippers have taken a beating and longer-term visions for local culture are taking root. “Shout-out to the city government in Yucca,” Gordon said, saluting. “They’re constantly thinking of ways to beautify the area and respect Old Town and encourage curated growth.”

Patrons fill the dance floor at the new Mojave Gold music venue.

Patrons dance to Tantra Punk on Desert Gothic night at Mojave Gold.

(Gina Ferazzi / Los Angeles Times)

The Mojave Gold team hopes that this sometimes-shaky boomlet of independent music in the desert can foster a scene like Silver Lake’s in the early 2000s — big enough to be nationally influential, but neighborhood-y enough to roll in twice a week and see where the evening takes you. Even if it’s straight to hell on goth night.

“A big part of those scenes were free or very inexpensive nights when you even if you didn’t have a lot of money, you could go out and have a great time,” Gillespie said. “I hope that the focus here is on fostering the local creative community and not just profiting.”

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World Athletics Championships: GB relay team receive gold medals 28 years late

Englishmen Black, Richardson and Hylton plus Welsh duo Thomas and Baulch were belatedly presented with their gold medals at Saturday’s Diamond League meeting at a sold-out London Stadium.

“It’s been hanging over us for a very, very long time. I mean, 28 years is a long time so yesterday really completed it. It was great,” added Black.

“In some ways, it was more special because we were there with our families and our kids, who obviously weren’t born back then.

“I think Jamie had a baby then but we were able to share it with our families and you don’t get to do that, do you?

“Also, more importantly, we shared it with 60,000 British fans in there and a lot of them supported us back in the day.

“I think pulling that together, it was actually a surprisingly emotional moment and we loved it. It was really special.”

Cherry Alexander, UK Athletics’ strategic lead for major events, said: “We’re proud to be able to give these athletes their moment in front of a home crowd.

“It’s a chance to recognise not just their talent, but the values they stood for. This medal means even more because of how long they’ve waited for it.”

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