Palestine Financial News

Gold staged a stunning rally on Friday on escalation of the Mideast conflict. The situation took a grave turn after Israel gave Gaza Palestinians twenty-four hours to evacuate the Gaza Strip as the Israeli army prepared for a massive assault in Gaza.

By Matt Tracy

SYDNEY (Reuters) -Thousands of Australians joined pro-Palestinian rallies on Sunday, despite police threats to curb them amid tension after the bloody Hamas incursion into Israel eight days ago.

Gaza Health Ministry says 2,329 Palestinians have been killed since the latest fighting erupted, making this the deadliest of the five Gaza wars for Palestinians. The death toll on Sunday surpassed that of the third war between Israel and Hamas, in the summer of 2014, when 2,251 Palestinians, including 1,462 civilians, were killed, according to U.N.

Israel but so far there are no reports of any Indian getting injured or kIlled, just as the government has mounted Operation Ajay to evacuate Indian citizens. That's the immediate threat the conflict poses to India. However, India will be impacted in many serious ways if the conflict drags on or explodes into a bigger war. The conflict could widen as Israel began ground raids inside the Gaza Strip. Israel's announcement marked a shift from an air war to ground operations to root out Hamas fighters a week after the Palestinian terror group's deadly rampage in southern Israel. Live: The latest on the Israel-Hamas conflict The possibility of Israel-Hamas conflict dragging in many other countries is spooking the economy since any trouble in West Asia will have an immediate impact on oil supply, a frightening prospect after another geopolitical crisis, the Russia-Ukraine war, rattled the world last year disrupting energy and food trade. Given that the global economy is not in good health and the threat of recession looms in the US, the conflict poses a serious threat. How exactly will India be hit by the conflict? It seems a contained conflict that does not last long will not upset India in any significant manner but a longer conflict can destabilise India's economy.

US President Joe Biden on Sunday said that Hamas is using innocent Palestinian families as human shields in its assault on Israel, The Times of Israel reported. He said that the majority of Palestinians have anything to do with Hamas. Speaking at a gala dinner for the Human Rights Campaign in Washington, Biden said, «The humanitarian crisis in Gaza, innocent Palestinian families, and the vast majority have nothing to do with Hamas.» «They're being used as human shields,» he added. Biden claimed that the terror attack launched by Hamas was the bloodiest day for Jews since the Holocaust and that the Hamas terror organisation had used Palestinian civilians as human shields to avoid Israeli reprisals, according to The Times of Israel. The President said that the day before, he chatted on Zoom for an hour with relatives of Americans who are still missing, and he relates this to his own experiences, including the loss of his first wife and daughter in a vehicle accident in 1972, the report said. «They've endured an agony not knowing what's happening. It's not the same thing, but I can tell you what it's like.

Israel pressed on Sunday with preparations for a ground offensive in Gaza, after giving Palestinians a little more time flee northern areas it has vowed to target in response to the deadliest attack in its history. Hamas fighters gunned down, stabbed and burned to death more than 1,300 people in the attack that Israel has compared to 9/11 in the United States, sparking a massive retaliatory bombing campaign targeting the Islamist group that has killed over 2,200 in Gaza. Israel has warned around 1.1 million Gazans living in the north of the Palestinian territory to flee to the south ahead of a ground incursion which the military has indicated will focus on Gaza City, the base of the leadership of the Hamas militant group. The military said Gaza City residents must not delay their departure but a spokesperson said late Saturday they still had time to leave and that the ground offensive would not start on Sunday. Since Friday thousands of Gazans, who cannot leave the enclave as it is blockaded by both Israel and Egypt, have packed what belongings they can into bags and suitcases, to trudge through the rubble-strewn streets.

Welcome to the weekend. To start off your day, we’ve curated 10 great reads to enjoy.

₹1497 per 10 gm on the Multi Commodity Exchange (MCX). The gold future contract for December expiry on MCX ended 2.58% higher at ₹59,415 per 10 gm levels on Friday. The rally in gold was seen in the times of the Russia-Ukraine war also.

Axios. This comes as the diplomatic sources said that on Saturday in Beirut, the capital city of Lebanon, Iranian Foreign Minister Hossein Amir-Abdollahian met with UN ambassador to the Middle East Tor Wennesland.

By Nidal al-Mughrabi and Emily Rose

UN agency for Palestine refugees (UNRWA) has warned that Gaza has run out of water. In a tweet shared by UNRWA, the UN agency has said that the situation in Gaza is of ‘life and death’, even as Palestinians in the densely populated Gaza strip struggle holding onto survival.

LATEST UPDATES AS OF 4 P.M. ET:

By Hadeel Al Sayegh, John O'Donnell and Elizabeth Howcroft

Gaza Strip, after telling Palestinians living in the densely populated territory to flee south towards a closed border with Egypt. The Israeli national security adviser meanwhile warned Lebanese militant group Hezbollah not to start a war on a second front to Israel's north, threatening the «destruction of Lebanon» it if did. Israel has vowed to annihilate the Hamas militant group that controls Gaza in retaliation for a rampage by its fighters, who stormed through Israeli towns a week ago, gunning down civilians and making off with scores of hostages in the worst attack on civilians in Israel's history. Some 1,300 people were killed in a brutal onslaught that left Israel in profound shock, both at the scale of the killing and at horrifying mobile phone footage and reports from medical and emergency services of atrocities in the towns and kibbutzes that were overrun. In response, Israeli jets and artillery have subjected Gaza to the most intense bombardment it has ever seen, putting the enclave, home to 2.3 million Palestinians, under total siege. Gaza authorities say more than 2,200 people have been killed, a quarter of them children, and nearly 10,000 wounded. Rescue workers searched desperately for survivors of nighttime air raids. Thousands of Palestinians fled the north of the Gaza Strip on Saturday from the path of the expected Israeli ground assault, while Israel pounded the area with more air strikes and said it kept two roads open to let people escape.

Israeli Prime Minister Benjamin Netanyahu has vowed to “crush and destroy” the militant group Hamas in response to its surprise weekend attack that has shaken the Middle East and the world.

Hamas leader Ismail Haniyeh on Saturday accused Israel of engaging in actions that he considers to be war crimes and of obstructing the delivery of humanitarian assistance to the Gaza Strip. This statement was conveyed in a letter he penned to United Nations Secretary-General Antonio Guterres, which was published on the website of the Palestinian group. «Israeli atrocities amount to war crimes,» he said in a letter addressed to United Nations Secretary-General Guterres that was posted on the Palestinian group's website. Antony Blinken previously mentioned that the efforts to deliver humanitarian aid to Gaza have faced challenges due to the actions of the terrorist organization Hamas.

Israel to stop its attacks on Gaza, warning that the war might expand to other parts of the Middle East if Hezbollah joins the battle, and that would make Israel suffer «a huge earthquake.» Hossein Amirabdollahian told reporters in Beirut that Lebanon's Hezbollah group has taken all the scenarios of a war into consideration and Israel should stop its attacks on Gaza as soon as possible. Israel considers Hezbollah its most serious immediate threat, estimating it has some 150,000 rockets and missiles, including precision-guided missiles that can hit anywhere in Israel.

The revelation that the recent attack in southern Israel, which allegedly resulted in the deaths of 1,200 Israelis, was partially funded with cryptocurrency has added fuel to the efforts led by Senator Elizabeth Warren and others to advocate for crypto legislation.

vowed to ‘crush’ Hamas this week after militants launched a surprise attack on October 7. Retaliatory air strikes have killed nearly 2,000 Palestinians over the past week and the death toll appears likely to rise in light of water and power cuts across the Gaza Strip. Speculative reports suggest that Israel will soon launch a ground assault across the 40 km long stretch – prompting alarm about the fate of blockaded civilians in one of the world's most densely populated regions.

Gaza is of ‘life and death’, even as Palestinians in the densely populated Gaza strip struggle holding onto survival. “It has become a matter of life and death.