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Salman Khan firing case: Mumbai police find 13 rounds and two handguns in the Tapi River.

Salman Khan firing case: Searchers from the Mumbai Police Crime Branch have been searching the Tapi River since April 22 and have found two handguns, three magazines, and thirteen rounds.

During their ongoing operation to seize firearms thought to be connected to the gunfire incident outside Salman Khan’s apartment, the Mumbai police’s crime branch has made important discoveries, according to PTI.

An official told the wire service on April 23 that two pistols, three magazines, and thirteen rounds had been found during search operations in Gujarat’s Tapi River.

Why is Iranian President Ebrahim Raisi visiting Pakistan?

The search is still ongoing at the location with a committed team of 12 officials, led by senior police inspector Daya Nayak, dubbed the “encounter specialist”. The official also mentioned that scuba divers’ assistance is being used.

Arrested Suspects and Recovery Details

It was stated that the two suspects, Vicky Gupta (24), and Sagar Pal (21), who were detained about the shooting incident outside Galaxy Apartment on April 14, had taken off on a motorcycle. They were then taken into custody on April 16 in Mata No Madh, close to Bhuj town, Gujarat, as a result of a coordinated effort by the police departments in Mumbai and Kutch.

The suspects admitted under questioning that they had fled Mumbai and dumped the guns into the Tapi River from a railway bridge on their way to Bhuj.

Police sources indicate that instigating “terror” appears to have been the two people’s main motivation for the shooting.

Gangster Lawrence Bishnoi and his younger brother Anmol Bishnoi have been designated as “wanted accused” by Mumbai police in relation to the crime. Gupta and Pal are said to have been operating at the Bishnoi brothers’ direction.

While Lawrence is currently incarcerated at Sabarmati Central Prison in Gujarat for another case, his brother Anmol is believed to be residing in either Canada or the United States, as per official statements.

Prince William returns to public duties: It hints at Kate Middleton’s good health.

William and Kate: Adding to the strength of the UK Royal Family, Prince William spent Friday morning at Hereford Cathedral to attend Major Mike Sadler’s memorial ceremony. Major Sadler was the last of the SAS “Originals” from the war.

Prince William of the United Kingdom attended a memorial ceremony on Friday after resuming his public duties on Thursday for the first time since Kate Middleton’s cancer diagnosis.

William, bolstering the royal family ranks, went to the funeral of Major Mike Sadler, the final SAS “Original,” on Friday morning at Hereford Cathedral.

Sadler passed away in January of this year at the age of 103. He had used the stars to guide him through North Africa’s deserts.

The Prince of Wales’ most recent action suggests that Kate Middleton, his wife, is doing well.

William’s most recent excursion was revealed by Royal correspondent Richard Palmer in a post on X (formerly Twitter).

William was scheduled to read at the memorial service for the late Greek King Constantine in March, but he had abruptly canceled his trip.

Gwen Stefani and Blake Shelton share a sweet backstage moment at Coachella.

William’s visit was postponed due to Middleton’s cancer diagnosis and preventive chemotherapy, it was later disclosed.

Kate heartbreakingly disclosed to the country last month that she has been diagnosed with cancer and is receiving treatment.

William had gone to a kids club that is served by a surplus food redistribution center on Thursday.

The Princess of Wales had requested “time, space, and privacy” in the video message while she and her family came to terms with her condition.

For the benefit of our small family, I have been doing everything we can to digest and handle this discretely, she had stated. “We have needed time to reassure George, Charlotte, and Louis that everything will be alright and to explain everything to them in a way that is suitable for them.

“Due to health issues, Charles and Kate have been mostly absent from public life since January. As a result, Queen Camilla, Princess Anne, and other members of the Royal Family have had to fill in for them at the many events and award ceremonies that make up the work of the British monarchy.

Why is Iranian President Ebrahim Raisi visiting Pakistan?

Shehbaz Sharif, the prime minister of Pakistan, brought up the Kashmir dispute, but Iranian President Ebrahim Raisi did not respond to his attempt to have a conversation on the area.

In an attempt to improve relations between the two nations, Iranian President Ebrahim Raisi is currently visiting Pakistan, months after airstrikes were conducted against suspected terrorist hideouts on neighboring territory. Shehbaz Sharif, the prime minister of Pakistan, brought up the Kashmir dispute during the negotiations, but the president of Iran did not respond to his attempt to have a conversation on the area. Instead, Ebrahim Raisi brought up the subject of Palestine and how Iran has persisted in aiding Palestinians battling injustice.

Both nations have charged one another with giving armed organizations a safe home. Iran began airstrikes targeting suspected terrorist hideouts in the unrest-plagued province of Balochistan in January of this year. Pakistan launched missiles and killer drones into Iran’s Siestan-Balochistan region in retaliation for the missile attack, claiming to have carried out “precision military strikes” against “terrorist hideouts.” But neither nation raised the stakes in the conflict.

Ukraine-Russia war: Biden promises to provide Ukraine with fresh military aid “quickly.”

What did Iran, Pakistan talk about?

Iranian President Ebrahim Raisi is visiting Pakistan to hold discussions on religious, cultural, diplomatic, investment, and security issues to mend the strained ties.

Iran and Pakistan both committed to working together to combat terrorism. The two nations inked at least eight documents to advance their collaboration in some areas. The two leaders also had discussions about boosting trade and communication between their two nations.

President Raisi stated, “We are committed to strengthening relations at the highest levels,” during a press conference. It is unacceptable how much commerce and economic activity there is between Pakistan and Iran. First, we have agreed to raise trade volume to $10 billion between our two nations.”

“We have to keep this relationship strong despite the challenges we both face,” Shehbaz Sharif remarked. Iran and Pakistan may thrive, and developments can be seen across our borders.” In their conversations, he brought up the topic of Kashmir, which the Iranian President did not address.

Gwen Stefani and Blake Shelton share a sweet backstage moment at Coachella.

Blake and Gwen: After her performance at Coachella this past weekend, the vocalist of No Doubt was experiencing love.

Once again, Gwen Stefani and No Doubt lit up the second weekend of Coachella this year.

Tens of thousands of admirers, including her husband Blake Shelton, and son Apollo, age 10, were there to support the singer.

The encouraging pair attended the packed music festival in the California desert on Saturday, and they all had a special moment backstage as they showered Stefani with affection following the band’s performance.

Shelton and Apollo waited backstage for Stefani along with the rest of her loved ones, as seen in the Coachella livestream, and they had a hug after the show.

This came after Shelton and Apollo were photographed strolling through the crowd together in the audience before the start of the event, with Apollo even seen hugging his stepdad.

The 10-year-old, whom Stefani shares with her ex-husband Gavin Rossdale and the country star were shown in a YouTube video arriving before No Doubt’s performance and sitting down in a separate section to watch the act.

latest blake and gwen news

Apollo joined Stefani on stage during the pre-show soundcheck, and Stefani shared some amusing pictures from the event on her Instagram Stories.

Wearing a VIP Coachella lanyard, her small son was beaming as he sang into a microphone alongside his mother.

Hailey, Justin Bieber’s wife, and he have denied divorce rumors and shared a romantic moment at Coachella.

The enjoyable family trip takes place just a few days after Shelton chatted with ET last Wednesday from Ole Red Las Vegas, his new club. In light of how much his life has changed in the ten years since he first met Stefani, 54, as a coach on NBC’s The Voice during her freshman season, the 47-year-old country singer thought back.

Regarding his plans for the future, he stated, “If I could have a repeat of these past 10 years, [that] would be perfect.”

“It’s unbelievable to me that our 18-year-old will be turning 18 next month. Shelton went on, “And in a few years, we’ll have another 18-year-old,” alluding to Stefani’s children from her marriage to Rossdale, Zuma, 15, and Kingston, 17. “[After that], it’s gonna be I guess a lot more alone time, which I’m not mad about that either.”

“But Apollo is still with us. Thus, it will take us nearly ten more years before we can fire him,” laughed Shelton. “So it should be a lot of fun.”

In addition, the country music icon called Stefani’s performance with No Doubt during Coachella’s opening weekend “the greatest concert I’ve ever seen.”

“Gwen has never performed like that for me. Shelton stated, “A performance with No Doubt is different than one with Gwen. “It’s just a different kind of energy.”

Ukraine-Russia war: Biden promises to provide Ukraine with fresh military aid “quickly.”

Ukraine-Russia war: Following the US senators’ passage of a $61 billion (£49 billion) support package, Joe Biden informed Volodymyr Zelensky that he would “move quickly” to deliver Ukraine further military aid.

Following months of political impasse in the House, the bill was finally approved by the House of Representatives on Saturday.

If senators pass the bill as predicted on Tuesday, Mr. Biden promised “significant” help for Kyiv, including more air defenses.

The guarantees coincide with the destruction of a Kharkiv TV tower by Russian strikes.

Video captured the red-and-white skyscraper in the eastern Ukrainian city, which is only 19 miles (30 km) from the Russian border, falling moments after Russian missiles struck it on Monday afternoon.

Regional Governor Oleg Syniehubov posted on social media that staff members were in a shelter at the time of the incident, despite local officials claiming there were no injuries.

However, Mr. Syniehubov said that the attack had interfered with local television transmissions.

Russian forces have been attacking Kharkiv from the air nonstop for the past few weeks. President Zelensky stated that it was “Russia’s clear intention to make the city uninhabitable” in a social media post following the strike.

He went on to say that he had alerted President Biden to the strike, claiming that it had occurred just before their Monday conversation.

President Biden stated that his government had a “lasting commitment to supporting Ukraine as it defends its freedom against Russian aggression” in a transcript of the call made public by the White House.

Ukraine on maps: Tracking the war between Russia and Ukraine.

Additionally, according to the White House, Mr. Biden pledged to support Ukraine’s efforts to “maintain financial stability, build back critical infrastructure following Russian attacks, and support reform as Ukraine moves forward on the path of Euro-Atlantic integration”.

The aid package, which the House approved on Saturday, consists of “forgivable loans” worth over $9 billion (£7.28 billion) in economic assistance that is forgiven and does not require repayment.

Mr. Zelensky applauded Mr. Biden’s remarks, while Mykhailo Podolyak, the head of Ukraine’s top assistant, stated that the recently increased US aid had provided much-needed encouragement to the war-weary country.

However, Moscow has gained a lot of momentum in the fight in recent weeks and has won several battles in the nation’s east.

Furthermore, Mr. Zelensky has issued a warning, stating that Russia is likely to aim for a significant military victory before Victory Day, which is observed on May 9 in commemoration of the defeat of Nazi Germany.

He proposed that Moscow try to take control of the little Donetsk region town of Chasiv Yar before the holiday. Just west of Bakhmut, a destroyed city that Russia took control of last year following months of brutal combat, is Chasiv Yar.

According to military leaders in Kyiv, if Moscow’s forces manage to take control of Chasiv Yar—which has all but been abandoned by its pre-war population—they would provide a route into the Ukrainian cities of Kostiantynivka, Kramatorsk, and Sloviansk.

Ukraine-Russia war

Additionally, the Donetsk region’s Novomykhailivka town was reportedly taken over by Russia’s defense ministry on Monday. Although Ukrainian defense officials previously stated that their forces had stopped Russian advances on the settlement, the BBC is unable to independently verify the allegation.

The head of military intelligence in Ukraine, Kyrylo Budanov, stated to the BBC’s Ukrainian service on Monday that the upcoming weeks would present “a rather difficult situation” for Kyiv’s forces.

The Russian takeover of the town of Avdiivka, Lt Gen Budanov admitted, was “a real success” for them. He did, however, add that although the combat scenario for Ukraine would deteriorate over the next several weeks, it wouldn’t be “catastrophic”.

He went on, “Armageddon will not occur.”

Ursula von der Leyen, President of the European Commission, was also addressed by President Biden on Monday.

According to an official transcript of the conversation, Ms. von der Leyen’s office stated that the two talked about “their steadfast support for Ukraine as it defends against Russian aggression” and “how sustained international support is vital to Ukraine’s fight for freedom”.

A Russian man who made a critical remark about the invasion of Ukraine to a US newspaper has been sentenced to five years of “correctional labor” in Moscow.

Yuri Kokhovets was charged with disseminating “fakes about the army” after he commented on US-funded Radio Free Europe in February 2022 that was critical of the war and President Vladimir Putin.

This is the first instance of a Russian citizen being prosecuted for giving an opinion to a foreign journalist.

Hailey, Justin Bieber’s wife, and he have denied divorce rumors and shared a romantic moment at Coachella.

Watching Lana Del Ray perform on Friday night during Coachella’s opening night was a sweet moment shared by Justin Bieber and his wife Hailey Bieber.

The couple, who have been the target of months of divorce rumors, was captured on camera cuddling up to one another and appearing to be as infatuated as ever.

The hit song “Sorry” was also observed massaging the model’s head and kissing her on the forehead.

While Hailey, 27, was busy advertising her Rhode skincare line at a booth earlier in the day, Justin, 30, was seen wandering by himself. However, they got together later in the evening to watch the musical acts.

IGNORED? Fans of Hailey Bieber cried, “Help Justin!” after the death of his friend Chris King, the model does not mention his husband in a recent post.

Their affectionate performance at the 2024 Coachella was in stark contrast to their presence the previous year when Hailey was seen giving back rubs to a visibly ill Justin.

The couple, who tied the knot in 2018, has long been fending off rumors about one another.

Hailey Baldwin’s father, Stephen Baldwin, posted a video in February requesting that people pray for the couple. Victor Marx is the founder of All Things Possible Ministries.

A message playing over a video of Justin reading aloud said, “Christians, please take a moment to offer a little prayer for them to have wisdom, and protection, and to draw close to the Lord.”

After that, photos of Hailey and Justin arriving at church in Beverly Hills, California, appeared to be sad, which fed the rumors even more.

But Hailey decided to take action in March and attack accounts that were pushing “blind items” about her marriage.

In her Instagram Story at the time, she stated, “Just so you know, the tales and frequent “blind things” that I see on TikTok are 100% inaccurate. Created out of thin air… originates from the fantasy realm.

“So I know it may be fun feeding into these stories but just know they’re always false xx sorry to spoil it,” she added.

Hailey also seemingly clapped back against rumors that she and Justin were on the rocks by sharing a sentimental tribute for her husband on his 30th birthday.

“words could never truly describe the beauty of who you are,” she sweetly penned on March 1. “Happy Birthday to you… love of my life, for life. 

IGNORED? Fans of Hailey Bieber cried, “Help Justin!” after the death of his friend Chris King, the model does not mention his husband in a recent post.

According to a source, Justin and Hailey have been having marital problems, but they are attempting to resolve them.

As the creator of Rhode Beauty posted a rotating collection of arbitrary pictures, the Grammy Award winner persisted in mourning his deceased friend Chris King.

Hailey fans thought the star might back Justin, who lost his friend to an alleged shooting.

Chris was a rapper who gained fame by collaborating with fellow music artist Trippie Redd.

Justin posted a video of him and Chris embracing on his Instagram Stories on Saturday.

“Love you, bro,” he captioned the post.

justin and hailey latest news
justin and hailey latest news

“This one hurts, please pray for his family,” Justin posted on his social media.

After saying, “See you in paradise, brother,” Justin went on.

However, Hailey recently posted a carousel of her life’s moments to Instagram.

The model began her post with an image of a meadow filled with green, wild pink flowers.

Hailey posed in her bathroom for the next photo while dressed in an oversized black blazer, which she wore as a dress.

Her hair was left unstyled and she rocked light makeup.

Other photos included a shot of her small white dog and a behind-the-scenes shot from Coachella.

“Spring Things,” she captioned the post with a frog emoji.

Some fans left comments of admiration, while others begged the Rhode founder to support her husband while he grieved.

“Where is Justin?” asked one follower.

“Help Justin!!!” added another.

“Your husband just lost a friend and you go and post photos of yourself?” noted a third.

DIFFICULTY IN PARADISE?

After people spotted Hailey and Justin appearing serious in one other’s eyes, the couple has been the subject of divorce rumors for several months.

This week, allegations that the pair don’t live together were stoked by images and a video that went viral of them attending a dinner apart.

One person on the internet questioned, “Do they even live in the same house?”

Fans felt Justin has been residing at his $16 million La Quinta mansion while Hailey has been staying at their Los Angeles home, so his recent acquisition of a property didn’t help.

It was suggested by a fan on a different discussion board that the supermodel and musician had been “living separately since last year.”

Hailey and Justin attempted to silence rumors about their romance over the weekend by cuddling up in front of thousands of people at the Coachella music festival.

Justin and Hailey’s Relationship Timeline

justin and hailey latest news

Justin and Hailey go way back as she met him when she was just 12 years old during a 2009 Today show appearance.

In 2011, the two were pictured together along with Hailey’s father at Justin’s Never Say Never documentary premiere where she called him “cute.”

November 2014

  • Dating rumors began after they were spotted together at a Hillsong Church service.
  • During an interview with E! News, Hailey denied they were together.
  • They also rung in 2015 together.

December 2015

  • Dating rumors surfaced again after Hailey was spotted on vacation with Justin and his family in Tulum, Mexico.
  • Later that month, they rang in the New Year again, but this time, they were spotted kissing at Leonardo DiCaprio’s New Year’s Eve party in St. Barts, according to People.

February 2016

  • Justin and Hailey acknowledged that they were in a relationship, but made it clear they were not exclusive.
  • During another interview with E! News, Hailey said that the pair were “not an exclusive couple,” adding, “relationships at this age are already complicated, but I don’t like to talk about it because it’s between me and him.”
  • As for Justin, he spoke with GQ saying that Hailey was “someone I love” but starting a serious relationship was not a good idea because there was already “a lot that [he had] to commit to,” including a tour.
  • Later that year, the pair split in a “very dramatic excommunication,” according to People.

June 2018

  • After Hailey and Justin called it quits, he got back together with Selena Gomez, but in May 2018, the pair called it quits for good.
  • A few weeks later, Justin got back together with Hailey.
  • “The common denominator, I promise you, is always church,” Hailey told Vogue, via People.
  • “By then we were past the drama. I just hugged him. By the end of the conference, he was like, ‘We’re not going to be friends.’ I was like, ‘We’re not?’ “
  • The pair went on to have several PDA-filled public appearances, confirming their relationship was back on.

July 2018

  • Justin and Hailey announced their engagement.
  • He popped the question during a romantic dinner in the Bahamas while they were on vacation, according to People.
  • “Hailey I am so in love with everything about you! So committed to spending my life getting to know every single part of you loving you patiently and kindly,” Justin said in an Instagram post.

September 2018

  • On September 13, 2018, Hailey and Justin tied the knot during a courthouse wedding in New York City.

November 2018

  • Hailey changed her last name on social media from Hailey Rhode Baldwin to Hailey Rhode Baldwin Bieber.

September 2019

  • Hailey and Justin had a wedding ceremony in front of their friends and family at the Montage Palmetto Bluff in Bluffton, South Carolina.
justin and hailey latest news

“They cannot get a divorce since it is against their religious convictions. They’re trying to improve their marriage,” a source told The U.S. Sun lately.

“Nobody’s moved out, but occasionally they are spending time apart by staying with family and friends, but they are keen to stay together.”

India’s fourth-largest military spender, overall global spending accelerates SIPRI Report.

India’s fourth-largest military With a total of $83.6 billion spent on the military in 2023, India was the fourth-largest spender in the world, up 4.2% from the year before. This information is taken from a report published by the Stockholm International Peace Research Institute (SIPRI), which also showed that military spending has increased globally, rising to $2,443 billion, or 7% more than in 2022. Russia, China, and the United States were among the top ten countries that increased their military spending.

China is front and center of gold record-breaking rally this year.

According to a reputable war think-tank, India spent the fourth most on the military in the world in 2023. The nation spent 4.2% more on military spending in 2022, totaling $83.6 billion.
Global military spending increased by 7% to $2,443 billion in 2023, marking the highest annual growth since 2009, according to the most recent Stockholm International Peace Research Institute report (SIPRI).

The United States, China, and Russia topped the list of the ten countries that boosted their military spending in 2023, according to the research.

According to Nan Tian, Senior Researcher at SIPRI’s Military Expenditure and Arms Production Programme, the rise was a direct reaction to a decline in peace and security throughout the world.

“States are prioritizing military strength but they risk an action-reaction spiral in the increasingly volatile geopolitical and security landscape,” Tian stated.

SIPRI noted that the percentage change was stated in real terms using constant 2022 prices.

With a protracted struggle between the government and non-state armed groups, the Democratic Republic of the Congo (+105%) saw the greatest percentage increase in military spending by any nation in 2023. According to the survey, South Sudan saw the second-largest percentage growth (78%) amid internal conflict and the aftermath of the Sudanese civil war.

IPL 2024: RR vs MI head-to-head, Jaipur pitch report, weather forecast.

IPL 2024 RR vs MI has won 14 of the 31 matches in head-to-head play, while Mumbai has won 16 of them. Mumbai has a tiny advantage.

On Monday, April 22, at Sawai Mann Singh Stadium in Jaipur, Rajasthan Royals (RR) will play Mumbai Indians (MI) in Match 38 of the Indian Premier League (IPL) 2024. In their rematch with the top-seeded Rajasthan Royals on Monday, Mumbai, who is on the rise, will have to confront their bowling issues.
After a dismal start to the season, MI has rebounded to take sixth place in the standings with three victories in their last four games, while RR is leading the way with 12 points.

RR vs MI Head to head in IPL history

In the head-to-head battle, Mumbai have a slight advantage as they have won 16 out of 31 matches while Rajasthan emerge victorious in 14.

  • Total matches played: 31
  • Rajasthan Royals won: 12
  • Mumbai Indians won: 16
  • No result: 0
  • Abandoned: 1
  • RR vs MI head-to-head at Sawai Mann Singh Stadium
  • Total matches played: 8
  • Rajasthan Royals won: 6
  • Mumbai Indians won: 2
  • No result: 0

RR vs MI head-to-head at Wankhede Stadium

  • Matches played: 9
  • Rajasthan Royals won: 4
  • Mumbai Indians won: 5

RR vs MI venue-wise head-to-head 

At VenuesMatches playedMI wonRR wonAbandoned
Arun Jaitley Stadium22
Brabourne Stadium11
Dr DY Patil Sports Academy321
Eden Gardens11
Kingsmead211
Sardar Patel (Gujarat) Stadium211
Sawai Mansingh Stadium826
Sharjah Cricket Stadium11
Sheikh Zayed Stadium211
Wankhede Stadium954

Rajasthan vs Mumbai head-to-head stats- countrywide

In CountriesMatches playedMI wonRR wonAbandoned
India261412
South Africa211
United Arab Emirates321

Sawai Mann Singh Stadium key stats

Sawai Mansingh Stadium IPL StatsNumbers
Matches56
Matches won batting first20
Matches won batting second36
Average first innings total161.2
Runs per over8.11
Runs per wicket28.26
Highest total recorded217/6 by SRH vs RR in 2023
Lowest total recorded59/10 by RR vs RCB in 2023

IPL Record at Sawai Mansingh Stadium in Last 10 Matches
StatsNumbers
Matches10
Matches won batting first5
Matches won batting second5
Average first innings score177.6
Average first innings-winning score181
Average powerplay score48.4
Average death-over score52.4

IPL Points Table 2024

RankTeamsMatWLNR(No Result)Pts.NRR
1Rajasthan Royals761012+0.677
2Kolkata Knight Riders752010+1.206
3Sunrisers Hyderabad752010+0.914
4Chennai Super Kings74308+0.529
5Lucknow Super Giants74308+0.123
6NPR84408-1.055
7Mumbai Indians73406-0.133
8Delhi Capitals83506-0.477
9Punjab Kings82604-0.292
10Royal Challengers Bengaluru81702-1.046

The most costly wedding in India cost more than the unions of Isha and Akash Ambani combined; the total amount spent was…

IPL 2024 RR vs MI key toss stats at Sawai Mann Singh Stadium

  • Matches: 4
  • Matches won batting first: 2
  • Matches won batting second: 2
  • Average first innings total: 189
  • Average second innings total: 184

Jaipur pitch report for RR vs MI match

At Sawai Mann Singh Stadium, dew hasn’t been a major factor in the four matches played so far in IPL 2024. The Jaipur wicket also offers assistance to both pacers and spinners given 200-run score has not been breached at Sawai Mann Singh Stadium.

The home team, Rajasthan has defended 180+ scores twice and overhauled the 184-run target. In Rajasthan’s last home game, Gujarat chased down a 197-run target.

Jaipur weather forecast during RR vs MI IPL match

According to accuweather.com, there is no chance of rainfall in Jaipur on April 22. The temperature is expected to be around 31 degrees Celcius, with humidity at 22 percent. However, the chance of rainfall can’t be ruled out as it is due to sudden changes in weather conditions.

China is front and center of gold record-breaking rally this year.

China and India have historically competed to be the largest global purchasers. However, that changed last year when Chinese coin, gold, and bar consumption surged to all-time highs.

This year, gold has surged to record highs above $2,400 per ounce, captivating markets around the world. The nation that produces and consumes the most precious gold worldwide, China, is at the forefront of this remarkable rise.

Gold’s image as an investment is enhanced by rising geopolitical concerns, such as the conflict in the Middle East and Ukraine, and the possibility of a drop in US interest rates. Unrelenting Chinese demand, however, is driving the increase since bullion is viewed as a reliable store of value in uncertain times by ordinary buyers, fund managers, futures traders, and even the central bank.

AI increasing impact on journalism: Check risks, the most current developments, and more.

Biggest Buyer 

India and China have historically competed to be the largest global purchasers. However, that changed last year when Chinese coin, jewelry, and bar consumption surged to all-time highs. Demand for gold jewelry decreased by 6% in India but increased by 10% in China. Investments in Chinese bars and coins, however, increased by 28%.

Furthermore, according to Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd., there is still potential for demand to increase. A weaker yuan, unstable stock markets, a lengthy property sector crisis, and restricted investment opportunities in China are all pushing capital toward safer assets.

“The weight of money available under these circumstances for an asset like gold – and actually for new buyers to come in – is pretty considerable,” he said. “There isn’t much alternative in China. With exchange controls and capital controls, you can’t just look at other markets to put your money into.”

Imports Jump 

Although China mines more gold than any other country, it still needs to import a lot and the quantities are getting larger. In the last two years, overseas purchases totaled over 2,800 tons — more than all of the metal that backs exchange-traded funds around the world, or about a third of the stockpiles held by the US Federal Reserve.

Even so, the pace of shipments has accelerated lately. Imports surged in the run-up to China’s Lunar New Year, a peak season for gifts, and over the first two months of the year are 53% higher than they were in 2023.

Bank Central

For the longest period, the People’s Bank of China has been buying nonstop for 17 months in an attempt to diversify its reserves away from the dollar and protect against currency devaluation.

Among the several central banks that are supporting gold, it is the most enthusiastic buyer. The official sector bought up nearly all of the precious metals last year, and it is anticipated that they will continue to do so in 2024.

Shanghai Premium 

It’s indicative of gold’s allure that Chinese demand remains so buoyant, despite record prices and a weaker yuan that robs buyers of purchasing power.

As a major importer, gold buyers in China often have to pay a premium over international prices. That jumped to $89 an ounce at the start of the month. The average over the past year is $35 versus a historical average of just $7.  

More Rain To Hit UAE From Monday, Week After Record Deluge In Dubai.

For sure, sky-high prices are likely to temper some enthusiasm for bullion, but the market’s proving to be unusually resilient. Chinese consumers have typically snapped up gold when prices drop, which has helped establish a floor for the market during times of weakness. Not so this time, as China’s appetite is helping to prop up prices at much higher levels.

That suggests the rally is sustainable and gold buyers everywhere should be comforted by China’s booming demand, said Nikos Kavalis, managing director at consultancy Metals Focus Ltd.

China’s authorities, which can be quite hostile to market speculation, are less sanguine. State media have warned investors to be cautious in chasing the rally, while both the Shanghai Gold Exchange and Shanghai Futures Exchange have raised margin requirements on some contracts to snuff out excessive risk-taking. SHFE’s move followed a surge in daily trading volumes to a five-year high.

ETF Flows 

A less frenetic way to invest in gold is via exchange-traded funds. Money has flowed into gold ETFs in mainland China during almost every month since June, according to Bloomberg Intelligence. That compares with chunky outflows in gold funds in the rest of the world.

The influx of money has totaled $1.3 billion so far this year, compared with $4 billion in outflows from funds overseas. Restrictions on investing in China are again a factor here, given the fewer options for Chinese beyond domestic property and stocks.

Chinese demand could continue to rise as investors look to diversify their holdings with commodities, BI analyst Rebecca Sin said in a note.