As international gold prices continue to climb, gold prices in China have reached record highs.
On Wednesday, several major gold brands reported prices for pure gold jewelry exceeding 1,000 yuan (about 138.63 U.S. dollars) per gram, marking an all-time high.
On Wednesday local time, gold futures for June delivery on the New York Mercantile Exchange surged to 3,332.08 U.S. dollars per ounce, marking a 2.85 percent increase and setting a new all-time high for international gold prices.
Meanwhile, London spot gold prices briefly climbed above 3,310 U.S. dollars per ounce during intraday trading.
Since the beginning of April, gold has gained over 5 percent.
Driven by the momentum, the main gold futures contract listed on the Shanghai Futures Exchange once surged to 782 yuan per gram, setting a new record high. The spot gold price denominated in RMB has risen by about 26 percent so far this year, approaching the total gain for the whole of last year.
Recently, several major financial institutions, including Goldman Sachs, JPMorgan Chase, and UBS, have raised their forecasts for gold prices.
Analysts believe that as tariff tensions escalate once again and Asian markets show growing enthusiasm for gold investment, gold prices are continuously reaching new record highs.
China's gold prices hit new highs amid global market rally
China's gold prices hit new highs amid global market rally
The United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) on Wednesday warned that the education of 800 students in East Jerusalem is at risk as Israel's closure orders of their schools will take effect within a week.
Israeli officials from the Jerusalem Municipality and Israeli security forces forcibly entered six UNRWA-operated schools in East Jerusalem on April 8, and gave "illegal" closure orders effective in 30 days, according to UNRWA.
The schools, three in the Shu'fat refugee camp and three inside East Jerusalem, are required to shut down when the orders take effect on May 8.
The UN agency said the closure orders will directly impact some 800 boys and girls, who would likely be unable to finish their school year.
Roland Friedrich, director of UNRWA Affairs for the West Bank, called it "a grave threat to the right of those children to education", underlining that UNRWA has been providing children in the Shu'fat refugee camp access to high quality education.
The development follows two Israeli laws that went into effect in late January which ban UNRWA from operating in its territory and prohibit Israeli authorities from having any contact with the agency.
This week the International Court of Justice -- the UN's highest court -- began hearings to examine Israel's restrictions on the work of the UN and other international organizations in Gaza and the Occupied Palestinian Territories.
UNRWA warns against closure of 6 schools in East Jerusalem
UNRWA warns against closure of 6 schools in East Jerusalem
