China’s gold reserves rise as central banks keep buying
Official January data show ongoing central-bank diversification into gold amid de-dollarisation pressures.
January’s update shows China’s official gold reserves climbing to 74.19 million troy ounces, up from 74.15 million in December 2025, with the valuation rising to $369.58 billion. The release confirms a fifteenth consecutive month of official purchases, a pattern that has become a defining feature of Beijing’s reserve management in recent years. The move sits within a broader policy frame in which gold is used, at least in part, as a hedge against currency volatility and as a potential ballast for financial stability.
The Reserve Bank’s steps reinforce a wider narrative about central banks diversifying away from dollar-centric holdings. Independent estimates from institutions such as the World Gold Council have suggested that official figures may understate actual holdings, implying that the real stock could be larger than reported. If true, this would intensify questions about reserve transparency and the strategic implications for global gold pricing.
Market observers note that gold’s price backdrop has been firm despite periodic pullbacks, with annual gains already materialising in early 2026. The next major test for the market appears to be whether prices can establish a firm breakout above the $5 000 per ounce threshold. The official reserve data thus feeds into a wider debate about macro policy and the currency fortress around the dollar.
Geopolitically, the data feeds into a pattern of precautionary asset diversification as nations navigate trade frictions, energy volatility, and inflationary pressures. While it is difficult to quantify the precise impact on global gold markets, the signal is clear: central banks continue to view gold as a tangible anchor in a world of shifting financial policy. February updates and any unexpected reserve moves will be watched closely by markets, policymakers, and analysts alike.
This development sits at the intersection of finance and geopolitics, with few signs of an imminent reversal in central-bank appetite for gold. If the narrative around de-dollarisation remains intact, the pace of purchases could persist and support gold’s risk-off appeal in the near term. The market will be scanning for any upside catalysts or policy shifts that could alter the supply-demand balance in 2026.
Islamabad mosque bombing: IS claims responsibility
A suicide attack in Islamabad during Friday prayers kills dozens, with the Islamic State claiming responsibility.
A deadly attack on a Shia mosque on the outskirts of Islamabad during Friday prayers resulted in a significant number of casualties, with the Islamic State group claiming responsibility for the assault. Early reports indicate a large explosion and a substantial toll, prompting a wave of security responses across the capital. The incident underlines ongoing security vulnerabilities in urban Pakistan and the fraught sectarian dynamics that have marked the country’s security landscape.
Pakistani authorities have launched investigations into the attack and stepped up security measures in key urban districts. The IS claim ties the incident to broader regional campaigns by the group and allied networks, adding to concerns about cross-border militant activity and external influence in Pakistan’s security calculus. The exact sequence of events remains subject to official casualty tallies and ongoing forensic assessments.
Analysts warn that such attacks can have amplifying effects on public sentiment and political dynamics, potentially reshaping security policy discussions ahead of upcoming political cycles. The immediate priority is stabilising the capital and ensuring access to essential services for residents and visitors. In the coming days, the focus will be on casualty updates, security clampdowns, and statements from IS-affiliated groups or other militant voices that may seek to capitalise on the incident.
International reaction will be closely watched, given the potential for retaliatory moves by state and non-state actors in the region. Islamabad’s long-standing security partnerships and counterterrorism coalitions could influence the tempo of investigations and the allocation of resources to public safety. Officials have stressed the importance of evidence-based responses and maintaining civil resilience in affected communities.
As the investigation unfolds, observers will monitor casualty tolls, the scale of security deployments, and any new claims or counterclaims from militant groups. The attack dynamics emphasise the persistent threat environment faced by Pakistan’s security apparatus and its readiness to respond to asymmetric security challenges. The coming days will reveal how quickly authorities can restore routine life and reassure communities in and around the capital.
Starlink disruptions in Ukraine front
Disruptions to SpaceX Starlink services in Ukraine complicate frontline communications as military coordination relies on satellite links.
Ukraine’s Defence Ministry reported disruptions to Starlink terminals on the front lines as parts of a broader effort to whitelist approved equipment and block unauthorised units operated by Russia. The measures come as SpaceX works to fine-tune a system designed to support resilient communications in a theatre where conventional networks have been degraded or severed by hostilities. The front-line impact is being assessed by commanders who depend on satellite links for real-time command, control, and casualty reporting.
Russian figures and allied actors have sought to exploit satellite communications constraints to disrupt Ukrainian operations. The Starlink whitelisting process aims to validate and streamline trusted terminals while mitigating risks of spoofing or misreporting. In practice, this adds a layer of regulatory friction that may slow the interoperability improvements desired by Kyiv and its international supporters.
The issue highlights a broader tension between sanctions-compliant technology and military necessity. Satellite communications are increasingly central to modern warfare, yet they also present entry points for exploitation or restriction as geopolitical tensions escalate. Observers will watch how quickly the whitelist is rolled out, whether there are any documented workarounds, and what impact this has on near-term battlefield tempos.
For Kyiv, the ability to maintain secure, reliable comms remains a critical determinant of operational effectiveness. The evolving policy around Starlink access could shape future deployments, logistics, and casualty-tracking capacity. Across allied capitals, analysts will monitor whether spontaneous, improvised solutions emerge to sustain communications as verification regimes tighten.
China bans yuan-linked stablecoins and tokenised RWAs
Joint notices from the central bank and several agencies tighten controls on digital finance and tokenised assets.
A consortium of Chinese regulators, led by the People’s Bank of China and supported by seven state agencies, issued a joint notice prohibiting domestic entities and offshore subsidiaries from issuing yuan-linked stablecoins or tokenised real-world assets. The notice states that these tokens do not enjoy legal tender status, reinforcing state control over digital finance and cross-border crypto activity. The move signals a tightening of the sovereign policy framework around digital currencies and associated tokenisation enterprises.
The regulatory stance is part of a broader push to align financial technology with the national CBDC strategy and to curb activities that could undermine monetary sovereignty. Offshore issuers and onshore entities face a tighter operating environment, with implications for global crypto markets and cross-border ventures tied to China’s digital finance ecosystem. The enforcement landscape is likely to sharpen in the weeks ahead as authorities issue further guidance and clarifications on permissible activities.
Market participants should assess the potential for liquidity shifts in yuan-denominated markets and for any spillovers into adjacent digital-asset sectors. The policy stance also raises questions about the balance between financial innovation and regulatory control, particularly for foreign firms with Chinese operations and for projects seeking to tokenise real-world assets.
Observers will be watching for signs of practical enforcement, including licensing changes, delistings, or new compliance obligations for token platforms linked to Chinese jurisdictions. The broader implication concerns China’s ongoing CBDC agenda and its impact on global crypto dynamics, cross-border payments, and fintech policy.
China bans stablecoin issuance by foreign and domestic companies
New regulatory rules tighten the prohibition on unapproved stablecoins and tokenised assets, broadening controls beyond onshore markets.
A joint regulatory statement expands the ban on unapproved RMB-stablecoins and tokenised real-world assets across both onshore and offshore issuers. It forbids offshore providers from offering crypto services to Chinese residents and signals tighter oversight of cross-border digital assets. The crackdown aligns with broader efforts to secure sovereign monetary policy and to advance the country’s central-bank digital currency framework.
The restriction’s scope suggests tighter risk management for international platforms seeking to access Chinese users and markets. It also raises questions about the fate of existing projects and the status of those seeking to operate in grey markets that straddle national boundaries. The regulatory signal is likely to influence global crypto policy and competition among jurisdictions seeking to attract blockchain development.
Market watchers will look for details on implementation timelines, licensing regimes, and potential exemptions for selected institutional participants. The policy developments feed into debates about financial sovereignty, data governance, and the risk profile of tokenised finance in 2026 and beyond.
DeSantis pushes for AI governance in Florida
Florida Governor Ron DeSantis advances state-level AI regulation with a suite of bills aimed at rights, privacy, and data-centre oversight.
Florida is advancing a package of AI governance measures that would establish an AI Bill of Rights, expand data-privacy protections, enhance parental controls, and tighten rules around data-centre regulation. The proposals situate the state at the vanguard of national policy debates about how to govern rapidly evolving AI capabilities while balancing innovation and consumer protections. The legislative push, if enacted, could influence corporate strategy and regional competitiveness in the tech sector.
Supporters argue that state-level rules can provide clarity for businesses operating in an uncertain regulatory climate and protect vulnerable groups from emerging AI risks. Critics warn that such measures could create regulatory fragmentation and complicate interstate commerce or federal policy coherence. The outcome could shape the timing and scale of AI investments in Florida and potentially beyond if other states imitate the approach.
The debates will hinge on the text of bills SB 482 and HB 1395, and any federal reaction that might recalibrate Florida’s approach. Stakeholders will monitor committee hearings, amendments, and potential cross-wiring with national-level AI and privacy initiatives. If passed, Florida could become a testing ground for how to reconcile rapid AI deployment with rigorous governance at the state level.
As Russian losses mount, Kremlin strains to avoid full mobilization
Russia tightens recruitment and expands conscription while facing pressure to mobilise further as casualties mount in Ukraine.
The Kremlin appears to be recalibrating manpower strategies amid mounting casualties in Ukraine. Rather than pursuing a broad, rapid mobilisation, Moscow is widening reliance on contract soldiers and foreign fighters while balancing public tolerance for additional disruptions. The policy dynamics suggest a potential relay between domestic political signals and battlefield tempo as human-resource pressures increase.
Analysts warn that incremental steps toward broader mobilisation could carry significant political and social risks, including domestic dissatisfaction and increased international scrutiny. The decision matrix is influenced by battlefield losses, economic constraints, and the state’s ability to sustain supplementary military manpower through alternate channels. Observers will watch for official policy shifts, casualty trends, and any announcements related to reserve deployments or foreign fighter recruitment.
International observers may interpret these moves as a sign of risk elevation in the broader conflict, potentially affecting alliance calculus and sanctions policy. The coming weeks will test Moscow’s ability to manage public perception and maintain cohesion among its security apparatus and political leadership as senior figures weigh the costs and benefits of further mobilisation.
Ukraine must meet EU agricultural standards by 2028 says minister
Ukraine aims to align its standards with the European Union by 2028 to deepen integration and access to EU markets.
A Ukrainian minister has signalled that the country must bring its agricultural standards in line with EU rules by the end of 2028, focusing on animal welfare, pesticide regimes, and related conformity requirements. The timeline reflects the political and economic calculus of deeper EU integration, alongside potential transitional arrangements to smooth the adjustment for farmers and exporters. The standardisation drive is pitched as essential for tariff access and for unlocking substantial EU support.
The reform agenda will require significant investment in compliance infrastructure, testing regimes, and regulatory alignment across a broad farming sector. While the goal is ambitious, observers warn of the need for a credible transitional framework to avoid bottlenecks that could disrupt supply chains and export timing. The policy signal is part of a broader realignment of Ukraine’s trade and regulatory posture as it pursues closer ties with EU economies.
Industry stakeholders will monitor progress on technical harmonisation, the pace of approvals for agri-food exports, and any interim measures the EU may offer to accommodate adaptation. The interplay between agritech, certification schemes, and cross-border inspections will be critical as Ukraine seeks to secure sustained market access and international financial support.
Boundary Waters mining vote could open pristine wilderness to mining
US lawmakers move to lift a long-standing ban on mining in the Boundary Waters Canoe Area, raising environmental concerns while markets watch for policy signals.
The House of Representatives has voted to lift a 20-year ban on mining within the Boundary Waters region, a move that would mark a major shift in environmental policy and resource development in a globally significant wilderness area. Senate action looms, and the debate positions environmental protection against mineral extraction interests, with potential long-term ecological risks. The policy stakes are high for communities whose livelihoods depend on tourism and conservation.
Supporters argue that lifting the ban would unlock valuable mineral resources and stimulate job growth in a sector that faces cyclical demand. Critics warn of irreversible damage to lakes, forests, and wildlife, as well as broader caution about the precedent such a move sets for other protected areas. The political calculus includes potential presidential responses and the risk of court challenges that could shape the final outcome.
Observers will be watching for any environmental impact assessments, wildlife impact data, and legislative amendments that might mitigate risks. The timing of Senate consideration and potential veto threats will inform market expectations for mining equities and related supply chains. The debate speaks to a broader tension between natural resource development and conservation in U.S. policy.