Gold prices surged to a record high as investors flocked to safe-haven assets amid escalating geopolitical tensions and concerns over global economic stability. The precious metal climbed above $2,100 per ounce, driven by uncertainty surrounding conflicts in the Middle East, U.S.-China trade relations, and inflationary pressures affecting major economies. Analysts predict that gold could continue its upward trajectory as markets react to ongoing instability.
Meanwhile, Lloyds Banking Group reported a sharp 20% drop in annual profits, citing higher costs and economic headwinds. The UK’s largest retail bank posted pre-tax earnings of £5.6 billion, down from £7 billion the previous year. Rising interest rates and increased provisions for bad loans weighed on the bank’s performance, as consumers and businesses alike struggled with the higher cost of borrowing.
Despite the profit decline, Lloyds reassured investors that it remains financially stable and committed to long-term growth. However, market analysts warn that continued economic uncertainty and potential regulatory changes could pose further challenges for the banking sector.
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