Netanyahu advances settlement expansion plan in West Bank, says “there will be no Palestinian state”
Jerusalem/Amman: Israeli Prime Minister Benjamin Netanyahu has signed an agreement to advance construction in a settlement area east of Jerusalem that critics say would block the possibility of a future Palestinian state, as reported by Al Jazeera.
The project, known as “E1,” covers about 12 square kilometres near Maale Adumim, an Israeli settlement east of Jerusalem. The plan includes 3,400 new housing units and would connect surrounding settlements while severing much of the West Bank from East Jerusalem.
Speaking at a ceremony in Maale Adumim on Thursday, Netanyahu said the government was committed to preventing the creation of a Palestinian state. “We are going to fulfil our promise that there will be no Palestinian state. This place belongs to us,” he said, pledging to double the city’s population.
Strongly opposing the expansion plan the presidential spokesperson Nabil Abu Rudeineh noted that the establishment of a Palestinian state with East Jerusalem as its capital is necessary for regional peace. He also termed the two-state solution as "inevitable." He urged countries who have not yet recognised Palestine to do so.
“All settlements are illegal under international law,” Rudeineh said, accusing Netanyahu of endangering regional stability.
The United Nations has affirmed that 149 of its member states already recognise Palestine. Israel, which has occupied the West Bank since 1967, maintains that the E1 development is part of its long-term settlement policy.
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Silver, gold script sharp comeback as US-Iran ceasefire calms global jitter
New Delhi (PTI): Silver prices surged Rs 11,000 to Rs 2.51 lakh per kilogram in the national capital on Wednesday, while gold advanced to Rs 1.56 lakh per 10 grams amid strong global cues after the US and Iran agreed to a two-week ceasefire.
According to the All India Sarafa Association, the white metal zoomed by Rs 11,000, or nearly 5 per cent, to Rs 2,51,000 per kg (inclusive of all taxes) from Tuesday's closing level of Rs 2,40,000 per kg.
Gold of 99.9 per cent purity also appreciated by Rs 3,200, or 2.09 per cent, to Rs 1,56,400 per 10 grams (inclusive of all taxes). It settled at Rs 1,53,200 per 10 grams in the previous market session.
Analysts said bullion prices strengthened as geopolitical tensions in West Asia eased, triggering a broader relief rally across global financial markets.
Gold maintained strong gains and approached a three-week high on Wednesday as improved global risk sentiment, along with a pullback in US dollar and crude oil prices, boosted demand for precious metals, Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The positive momentum came after an agreement reached just before a self-imposed deadline by US President Donald Trump, who confirmed a pause in military action, conditional on the reopening of the Strait of Hormuz.
Iran also signalled that safe passage through the Strait would be possible during the ceasefire period, further easing supply concerns.
In the overseas markets, spot gold gained USD 97.48, or 2.07 per cent, to USD 4,803.33 per ounce, while silver was trading 6 per cent higher at USD 77.33 per ounce.
"Spot gold in the international markets surged on Wednesday after the announcement of a temporary ceasefire in the Iran war," Praveen Singh, Head of Commodities at Mirae Asset Sharekhan, said.
He added that commodities, bonds and equities rallied after crude oil prices crashed nearly 20 per cent on the ceasefire announcement, as a decline in energy rates will reduce interest rate hike chances by global central banks, including the US Federal Reserve.
Echoing similar sentiments, Kaynat Chainwala, AVP Commodity Research, Kotak Securities, said precious metal prices rose up to 7 per cent as the dollar slipped below 99 on US-Iran ceasefire relief, temporarily easing fears of prolonged energy supply shocks and the associated inflationary fallout.
The rally in bullion ran alongside a broader relief rally in global markets. Throughout the conflict, gold's traditional safe-haven appeal has been tempered by liquidity stress, as investors were compelled to liquidate bullion positions to cover losses elsewhere in their portfolios, she added.
"With the ceasefire conditional and compliance around the Strait of Hormuz still uncertain, any signs of a breach or collapse could quickly reverse sentiment and renew downside risk across precious metals," Chainwala said.
