The gold market - summary

 

The gold market - summary

 

As of July 18, 2025, the gold market presents a complex picture, influenced by a mix of persistent geopolitical tensions, economic uncertainties, and central bank activities. Here's a summary:

 

Current Price & Trends:

 

Global Context: Gold prices have been somewhat stable in recent days, but have seen significant gains throughout 2025. The LBMA Gold Price in USD surged by 23% in the first half of 2025, marking its strongest first-half performance since 2016.

 

India: Local gold prices in India have mirrored global movements, with 24K gold (10 grams) currently around ₹97,860.00. This represents a significant 31.34% increase compared to a year ago.

 

Malaysia: Gold prices in Malaysia have edged higher despite a global consolidation trend, trading around RM456.33 per kilogram.

 

Consolidation: Globally, gold on COMEX is in a consolidation phase, with prices trading in a tight range. Some technical indicators suggest a "buy on dip" strategy might be favorable for intraday traders.

 

Mixed Signals: While gold has experienced a minor decrease today in some markets, silver has seen an uptick, indicating a mixed trend in the precious metals market.

 

Key Factors Influencing the Market:

 

Geopolitical Risks & Uncertainty: Ongoing global trade tensions (e.g., US-China, US-EU tariffs), conflicts in Eastern Europe and the Middle East, and political instability continue to drive safe-haven demand for gold. This is a primary long-term strategic driver.

 

Central Bank Demand: Central banks globally, particularly in Asia, the Middle East, and Eastern Europe, continue their aggressive gold accumulation. This consistent buying, aiming to diversify reserves and reduce dependence on the US dollar, is a significant underpinning for gold prices. China's central bank, for instance, has continued its gold accumulation streak for the eighth consecutive month.

 

Inflation and Interest Rates: Persistent inflationary pressures in major economies make gold attractive as a hedge against the erosion of purchasing power. While some expectations for interest rate cuts have been pared back, a cautious stance by central banks on aggressive rate hikes contributes to gold's appeal.

 

US Dollar Strength: The relationship between the US dollar and gold remains crucial. A stronger dollar generally makes gold more expensive for foreign buyers, capping some gains. However, if the dollar weakens due to economic fundamentals or shifts in market sentiment, gold prices could rise.

 

Investment Demand: Investment demand remains robust, particularly for gold-backed ETFs and physical bars and coins. This is especially true in regions like China, where gold ETF inflows have reached historic highs. In India, investment in bars, coins, and plain chains remains favorable, even as retail jewelry demand has softened due to high prices.

 

Economic Outlook: Concerns about slower-than-expected economic growth and potential recessionary pressures in developed nations encourage investors to seek safe-haven assets like gold. The fear of stagflation (high inflation with stagnant growth) further supports this trend.

 

Outlook:

 

Long-Term Positive: The long-term outlook for gold remains constructive, with many analysts expecting prices to remain elevated or even climb further. Projections suggest gold could average around $3,675/oz by the fourth quarter of 2025 and potentially reach $4,000/oz by mid-2026.

 

Potential for Volatility: While the underlying tone is cautiously optimistic, short-term corrections are possible if inflation surprises to the upside or if central banks delay expected easing.

 

Silver's Outperformance: Silver has recently outshone gold, rising significantly due to its extensive industrial use in key emerging sectors like solar panels, electric vehicles, and electronics, coupled with an anticipated market deficit.

 

In summary, the gold market on July 18, 2025, is characterized by strong underlying support from geopolitical uncertainties and sustained central bank and investor demand, leading to impressive gains throughout the year, even as it experiences some consolidation and mixed trends in the very short term.

 

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The Galle Face Hotel, Colombo, Sri Lanka

 

The Galle Face Hotel, Colombo, Sri Lanka

 

The Galle Face Hotel, standing majestically on the shoreline of Colombo, is not just a hotel but a living testament to Sri Lanka's rich colonial past and vibrant present. Often referred to as "South Asia's Grande Dame," it has been an iconic landmark for over 160 years, captivating guests with its timeless charm and impeccable service.

 

A Rich Tapestry of History:

 

Dating back to 1864, the Galle Face Hotel was founded by four British entrepreneurs and quickly earned a reputation as the finest hotel east of the Suez Canal. Its name is derived from the sprawling Galle Face Green that it overlooks, a popular promenade where Victorians once strolled in the sea breeze. The hotel's construction unfolded in phases, with the central area and ballrooms being the first to emerge, followed by the North and South wings.

 

Throughout its storied existence, the hotel has played host to an illustrious list of dignitaries, royalty, and celebrities. Mahatma Gandhi, Roger Moore, Harrison Ford, Princess Alexandra of Denmark, Prince Philip Duke of Edinburgh, and even Che Guevara have graced its hallowed halls. The hotel proudly displays a "Wall of Fame" with photographs and anecdotes of these celebrated guests, allowing visitors to connect with its extraordinary legacy.

 

While undergoing a full restoration in 2015 to modernize amenities, the Galle Face Hotel has meticulously preserved its regal aesthetic and classic grandeur. High ceilings, polished wooden floors, stately corridors, and grand teak stairways evoke a bygone era, seamlessly blending historic charm with contemporary elegance.

 

Pricing and Value:

 

As a five-star heritage hotel, the Galle Face Hotel offers a range of accommodation options. Prices can vary significantly based on the season, room type, and availability. Online travel agencies often list double rooms starting from around $70 USD, with standard rooms and queen rooms in the range of $100-$120 USD. Premier Ocean Rooms, which offer breathtaking sea views and access to exclusive lounges, naturally command higher rates.

 

While some might perceive the prices as high, many guests find the value to be excellent given the hotel's unparalleled history, prime location, luxurious amenities, and exceptional service. Buffet pricing for meals, such as breakfast, lunch, and high tea at The Verandah, typically range from LKR 5,000 to LKR 7,000 (net per person), providing an exquisite culinary experience.

 

Customer Comments: A Mixed, Yet Predominantly Positive, Chorus:

 

Customer reviews for the Galle Face Hotel generally highlight its historical significance, prime location, and old-world charm. Many guests praise the spacious and beautifully appointed rooms, often with stunning views of the Indian Ocean or Galle Face Green. The diverse dining options, particularly the expansive and excellent breakfast buffet, frequently receive accolades.

 

Positive comments often emphasize the attentive and friendly staff, with many guests noting the "fantastic old-world charm and service." The unique experiences, such as playing croquet on the manicured south lawn and lounging by the only saltwater pool in Colombo, are often mentioned as highlights. The daily flag lowering ceremony, accompanied by a bagpiper in traditional Scottish attire, is a particularly quaint and memorable tradition.

 

However, some recent reviews have pointed to areas where the hotel could improve. A few guests have noted a perceived slip in restaurant service and limited meal choices, with concerns raised about air conditioning efficiency and occasional odors in corridors. While the hotel's heritage is universally appreciated, a small number of reviews have suggested that certain sections could benefit from further updates and improved maintenance. Despite these occasional criticisms, the overall sentiment remains overwhelmingly positive, with guests appreciating the unique character and historical immersion the hotel offers.

 

Other Good Things and Unique Features:

 

Beyond its historical allure, the Galle Face Hotel boasts a plethora of "good things" that enhance the guest experience:

 

Unbeatable Location: Situated directly on the Galle Face Green, the hotel offers unparalleled ocean views and easy access to Colombo's key cultural, historical, and contemporary landmarks.

 

Dining Diversity: The hotel provides a wide array of dining experiences. 1864 Limited Edition offers fine dining with contemporary fusion cuisine, complemented by a wine cellar and art gallery. The Verandah provides an authentic colonial al fresco setting for international and local cuisine, renowned for its crab curry and high tea. Firebeach is a rustic-chic beach club with lounging, dining, and music. King of the Mambo offers a Mediterranean menu with a Cuban vibe, complete with live music and dancing. For a casual pub atmosphere, In On The Green is a popular spot with live music and sports viewings, and Travellers' Bar provides a sophisticated setting for cocktails with ocean views.

 

Saltwater Pool: A unique feature in Colombo, the Indian Ocean-facing saltwater swimming pool provides a refreshing escape with stunning views.

 

The Museum: The hotel even has its own in-house museum dedicated to depicting its incredibly rich history, offering a deeper dive into its past.

 

Awards and Recognition: The Galle Face Hotel has consistently received accolades, including "Best Hotel in 'Rest of Asia'" at the Condé Nast Traveller Reader's Choice Awards, and multiple Sri Lanka Tourism Awards such as "Best Heritage Hotel" and "Best Contemporary Fine Dining." It is also consistently nominated for various World Travel Awards, including "Asia's Leading Heritage Hotel" and "Sri Lanka's Leading Business Hotel."

 

Events and Meetings: The hotel offers versatile venues for meetings, conferences, and celebrations, including grand ballrooms and private dining rooms, all with dedicated service.

 

In essence, the Galle Face Hotel is more than just a place to stay; it's an immersive journey into a bygone era, offering a unique blend of history, luxury, and authentic Sri Lankan hospitality. Despite minor imperfections, its enduring charm and iconic status continue to make it a cherished destination in Colombo.

 

 

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The Eerie Allure of Wax Museums: A Global Tour

 

The Eerie Allure of Wax Museums: A Global Tour

From the dimly lit corridors of historical figures to the dazzling halls of pop culture icons, wax museums around the world offer a unique blend of artistry, entertainment, and a slightly uncanny encounter with fame. These institutions, where lifelike waxen figures stand in silent tribute, have captivated audiences for centuries, evolving from solemn funerary effigies to vibrant tourist attractions.

 

 

The origins of wax sculpture stretch back to antiquity, with ancient civilizations like Egypt and Rome utilizing wax figures in religious ceremonies and to honor significant individuals. However, the modern concept of the wax museum truly began to take shape in 18th-century Europe. Early iterations often stemmed from royal funeral practices, where wax effigies of monarchs, dressed in their finest attire, were paraded and then displayed to the public. These exhibits, initially serving a commemorative purpose, slowly transformed into objects of public curiosity and, eventually, commercial enterprises.

 

 

 

The pivotal figure in the popularization of wax museums is undoubtedly Marie Tussaud. Born Marie Grosholtz in Strasbourg, France, in 1761, she learned the art of wax modeling from Philippe Curtius, a physician skilled in the craft. Tussaud's early career saw her creating wax figures of prominent figures during the tumultuous French Revolution, even being forced to make death masks of executed nobles, including King Louis XVI and Marie Antoinette, to prove her allegiance to the new regime. In 1802, she brought her collection to London, embarking on a touring exhibition that captivated audiences across Britain. Finally, in 1835, she established her first permanent exhibition on Baker Street in London, laying the foundation for what would become the world's most famous wax museum: Madame Tussauds.

 

 

 

 

Madame Tussauds quickly became a global phenomenon, renowned for its meticulous attention to detail and its ability to capture the likeness of its subjects. Its "Chamber of Horrors," featuring figures of criminals and gruesome scenes, became an early, infamous attraction. Today, Madame Tussauds boasts numerous branches across four continents, from New York to Shanghai, Berlin to Sydney. Each location tailors its collection to local interests, featuring a mix of international celebrities, historical figures, and regional heroes. The process of creating a Madame Tussauds wax figure is a painstaking one, involving hundreds of precise measurements, countless photographs, and the dedication of a team of sculptors, artists, and hair and costume specialists. Each strand of hair is inserted individually, and eyes are handmade in Germany, contributing to the astonishing realism.

 

 

 

Beyond the ubiquitous Madame Tussauds empire, numerous other wax museums contribute to this fascinating global landscape. In Paris, the Musée Grévin, established in 1882, offers a charming and historically rich experience. Its magnificent architecture and theatrical staging provide a distinct atmosphere, featuring French historical figures, cultural icons, and contemporary stars. The museum is also known for its "Palais des Mirages," an optical illusion hall that adds another layer of wonder.

 

 

Across the Atlantic, Potter's Wax Museum in St. Augustine, Florida, holds the distinction of being America's first and oldest wax museum, opening its doors in 1948. Inspired by a visit to a London wax museum, founder George Potter created a diverse collection ranging from US Presidents and historical figures to Hollywood celebrities. Its enduring popularity lies in its classic charm and the tangible sense of history it offers.

 

Other notable wax museums include the Hollywood Wax Museum in Los Angeles, which focuses on cinema and pop culture icons, often displaying figures in elaborate movie sets for an immersive experience. The Museo de Cera in Madrid delves into Spanish history and culture, featuring not only political figures and artists but also celebrated bullfighters and footballers. The Panoptikum in Hamburg, Germany, one of the oldest wax museums in Europe, offers a fascinating glimpse into a more traditional approach to waxwork, with a strong emphasis on historical figures and local personalities.

 

 

 

The creation of a wax figure is an art form that demands incredible skill and patience. It begins with extensive research, gathering photographs and measurements of the subject. A clay model of the head is meticulously sculpted, capturing every nuance of expression and facial feature. A metal armature forms the skeleton of the body, which is then built up with clay. Molds are then made from these clay sculptures, and a carefully prepared mixture of beeswax and Japanese wax, tinted to match skin tones, is poured into these molds. Once the wax hardens, the figure is removed, and the intricate process of adding real hair, glass eyes, and meticulously crafted costumes begins. The goal is not just a likeness, but a vibrant, lifelike presence that seems to breathe.

 

 

While some might view wax museums as mere tourist traps, their enduring appeal speaks to something deeper. They offer a tangible connection to history and celebrity, allowing visitors to stand "face-to-face" with figures they admire or have only seen in photographs. In an increasingly digital world, the palpable presence of these handcrafted figures provides a unique and often slightly eerie sense of connection, reminding us of the enduring power of human artistry and the timeless fascination with the famous and the influential. The global array of wax museums continues to evolve, embracing new technologies and subjects while holding firm to the captivating tradition of bringing history and celebrity to life in wax.

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1790: The Grand Design – Establishing Washington, D.C. as the U.S. Capital

 

1790: The Grand Design – Establishing Washington, D.C. as the U.S. Capital

 

On a sweltering summer's day, July 16, 1790, a pivotal decision was etched into the annals of American history: a site along the Potomac River would officially be designated as the permanent seat of the United States government. This seemingly administrative act, known as the Residence Act, was far from straightforward, born out of intense political wrangling, regional rivalries, and the visionary foresight of the nation’s founders. It marked not just the birth of Washington, D.C. as we know it, but a foundational moment in shaping the identity and stability of the nascent American republic.

 

THEN

The need for a permanent capital was a pressing issue from the earliest days of the republic. After enduring a peripatetic existence, with Congress convening in various cities like Philadelphia, New York, and Annapolis, the clamor for a fixed location grew louder. The temporary nature of the capital led to logistical nightmares, security concerns (evinced by the 1783 Pennsylvania Mutiny, which forced Congress to flee Philadelphia), and a lack of national identity. Yet, the choice of a capital was fraught with peril, igniting heated debates between Northern and Southern states, each vying for the economic and political advantages a capital would bring.

 

 NOW

The North, primarily represented by Alexander Hamilton, favored a financial powerhouse like Philadelphia or New York, closer to the established commercial centers. The South, championed by Thomas Jefferson and James Madison, argued for a more geographically central location, one that would not appear to favor Northern economic interests and would better represent the agricultural backbone of the nation. This seemingly intractable dispute threatened to derail the fragile union.

 

The solution emerged from a legendary compromise, often referred to as the "Dinner Table Bargain" of 1790. In a private meeting orchestrated by Thomas Jefferson, Alexander Hamilton, and James Madison, a deal was struck. Hamilton, in desperate need of Southern votes to pass his controversial plan for the federal assumption of state debts, agreed to support a Southern location for the capital. In return, Jefferson and Madison would rally Southern votes for Hamilton's financial program. This pragmatic act of political horse-trading, though perhaps unglamorous, underscores the raw, often messy process of nation-building.

 

With the location decided, the vision for the new capital began to take shape. President George Washington, who personally oversaw much of the planning, selected the precise site – a vast expanse of undeveloped land straddling the Potomac River, donated by Maryland and Virginia. His personal connection to the area, being a Virginian himself, likely influenced this choice, ensuring a capital that felt distinctly American, rather than tied to any pre-existing colonial power centers.

 

The task of designing this new "Federal City" was entrusted to Pierre (Peter) Charles L'Enfant, a French-born engineer and architect who had served in the Continental Army. L'Enfant’s grand vision, influenced by European capital cities like Paris and Versailles, laid out a magnificent blueprint of broad avenues, symbolic circles, and monumental spaces. His plan was characterized by a grid pattern overlaid with diagonal avenues, intended to connect key government buildings and offer sweeping vistas. While L'Enfant's temperamental nature and clashes with commissioners eventually led to his dismissal, his foundational design proved remarkably enduring, forming the basis for the city we recognize today.

 

The establishment of Washington, D.C. was more than just a geographical designation; it was a powerful statement of national unity and sovereignty. It symbolized the new nation's commitment to self-governance and its aspiration to create a republic distinct from the monarchical powers of Europe. The very act of building a capital from scratch, on virgin land, represented a fresh start, free from the entanglements and established interests of existing cities.

 

Over the ensuing decades, the capital slowly took shape, though not without its challenges. The War of 1812 saw British troops burn much of the fledgling city, including the Capitol and the President's House (now the White House), a stark reminder of the fragility of the young nation. Yet, each setback only reinforced the determination to rebuild and solidify the capital’s place as the heart of American democracy.

 

Today, Washington, D.C. stands as a testament to that audacious decision made over two centuries ago. Its grand architecture, iconic monuments, and bustling political life are direct descendants of the Residence Act and the grand designs of its founders. It remains a powerful symbol of American democracy, a city built from a compromise, born of a vision, and forever enshrined as the enduring seat of the United States government. The July 16, 1790, decision wasn't just about choosing a place; it was about choosing a future for a nation still finding its footing.

 

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Fauja Singh: The Turbaned Tornado Who Defied Age

 

Fauja Singh: The Turbaned Tornado Who Defied Age

 

The world recently mourned the passing of a true titan of human endurance, Fauja Singh, often known as the "Turbaned Tornado." At an astonishing 114 years old, the British Sikh marathon runner, who was born on April 1, 1911, tragically died in a road accident on July 14, 2025, in his native village of Beas in Jalandhar, Punjab. His passing marks the end of an era for a man who inspired millions by proving that age is truly just a number when it comes to chasing your dreams.

 

Fauja Singh's life story is one of incredible resilience and determination. Born with weak legs, he couldn't walk until the age of five. He worked as a farmer for much of his life in Punjab. It wasn't until later in his life, after emigrating to England in 1992 following the death of his wife, Gian Kaur, and then experiencing the profound grief of losing his fifth son, Kuldip Singh, in 1994, that he found solace and purpose in running. He began jogging as a way to cope with his immense sorrow.

 

However, it was at the remarkable age of 89, in the year 2000, that Fauja Singh decided to take up running seriously. He made his marathon debut at the London Marathon, completing it in 6 hours and 54 minutes. This was just the beginning of a legendary career that would see him become a global icon. He went on to participate in numerous marathons around the world, including New York, Toronto, and Mumbai, capturing hearts with his unwavering spirit and distinctive turban.

 

One of his most astounding achievements came in 2011, at the age of 100, when he set eight world age-group records in a single day at the Ontario Masters Association Invitational Meet in Toronto. Just three days later, he became the first centenarian to complete a marathon, finishing the Toronto Waterfront Marathon in 8 hours, 11 minutes, and 6 seconds. While Guinness World Records did not officially recognize this feat due to the absence of a birth certificate (official records were not maintained in India in 1911), his accomplishment resonated deeply around the globe.

 

Beyond his athletic prowess, Fauja Singh was a symbol of numerous positive values. He was awarded the Ellis Island Medal of Honor in 2003, becoming the first non-American to receive it, for promoting racial tolerance. He also received the Pride of India title in 2011 and famously appeared in advertising campaigns alongside figures like David Beckham and Muhammad Ali. A biography titled "Turbaned Tornado" was published in 2011, and a biopic, "Fauja," was announced in 2021.

 

Fauja Singh retired from competitive running at the age of 101, completing his final race, a 10km run in Hong Kong, in 1 hour 32 minutes and 28 seconds. He also served as a torchbearer for the 2012 London Olympics and received personal congratulations from Queen Elizabeth II on his 100th birthday. He attributed his longevity and fitness to a simple vegetarian diet, abstaining from smoking and alcohol, and his deep Sikh faith.

 

Fauja Singh's tragic death has led to an outpouring of tributes from leaders and individuals worldwide, all acknowledging his immense inspiration. His life was a testament to the power of perseverance, the indomitable human spirit, and the idea that it is never too late to pursue a passion. His legacy will continue to inspire generations to come, reminding us all that with determination, "impossible is nothing."