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Germany Denies Accusation of Supporting Genocide in Gaza Through Arms Sales to Israel
Germany faced accusations on Tuesday that its arms sales to Israel were aiding genocide in Gaza, as the International Court of Justice heard arguments from Nicaragua against the European nation. Despite these claims, Germany defended itself, maintaining that the majority of the equipment provided to Israel since October 7 was nonlethal. Furthermore, Germany highlighted its significant contributions to humanitarian aid for the Palestinians.
The case at the U.N. court in The Hague has sparked a debate about Germany’s unwavering support for Israel amidst the conflict with Hamas in the Gaza Strip. Germany, known for its strong backing of Israel as a means of atonement for the Holocaust, now faces scrutiny over the extent of its support. The accusations brought by Nicaragua were dismissed by Germany’s lawyers as having no factual or legal basis, emphasizing that Israel, the alleged perpetrator, was not party to the case.
Nicaragua’s argument that Germany was complicit in genocide in Gaza by aiding Israel financially and militarily was met with criticism from some German news media. The irony of facing accusations from a country led by an authoritarian president with a checkered human rights record did not go unnoticed. Germany’s status as the second-largest arms supplier to Israel after the U.S. has also come under scrutiny.
The case in The Hague has reignited concerns in Berlin about the implications of unconditional support for Israel on Germany’s international relationships and reputation. With the civilian death toll mounting in Gaza, the debate over Germany’s stance on the conflict has intensified.
The proceedings at the International Court of Justice have prompted discussions in Germany about the country’s support for Israel and the humanitarian crisis in Gaza. Analysts suggest that Germany’s posture toward Israel may be evolving, influenced in part by criticism of Israel’s actions from its key ally, the United States.
Foreign Minister Annalena Baerbock’s commitment to upholding international humanitarian law, even in times of conflict, reflects Germany’s complex position of grappling with historical guilt while advocating for human rights.
In a year marked by legal challenges against Israel at the U.N. court, Germany’s role in the conflict has been scrutinized. The court’s interventions on the alleged genocide in Gaza and the legality of Israel’s occupation of the West Bank have further complicated the situation.
While Germany has been a significant donor of humanitarian aid to Gaza, questions remain about its military support for Israel. The court case has underscored the delicate balance Germany must strike between supporting Israel and upholding the rights of Palestinians.
News
Is now the right time to invest in gold as prices have cooled?
The price of gold has climbed to record highs recently and has remained strong through much of April. And, that growth continued until the precious metal traded at around $2,390 per ounce on April 19, 2024. But since, growth in the price of the precious metal has cooled, with gold’s price now hovering around $2,300 per ounce.
This lull in gold’s price may represent an investment opportunity.
In general, investing is centered around buying assets when prices are low and selling them when prices are high – generating a profit on the difference between the two. So, considering the declines in gold’s price over the past few days, now may be the time to make your investment. But is buying gold during this lull in prices really a good idea?
Compare your gold investment options among leading brokers now.
Gold prices have cooled. Should you buy in now?
With gold’s price down from recent highs, you may be wondering if now is the right time to buy in. There are several reasons the dip in gold’s price may represent an opportunity to buy. Here are some of the biggest:
Prices may rise again
If looking at a gold price chart shows anything for certain, it shows that changes in the overall growth of the medal come in fits and spurts. Periods of price growth are typically followed by periods of declines and vice versa.
But with inflation rising in recent months – and with gold’s reputation as a safe-haven asset that can hedge against inflation – it only makes sense that the price of the precious metal will eventually start to head up again in the future. While attempting to time that directional change may be tricky, buying the precious metal while the price is down gives you the opportunity to take advantage of any upward movement that may be ahead.
Add gold to your portfolio now before prices have a chance to rise.
You may be able to make a quick profit
Gold isn’t known as an asset in which you can earn a quick return, but in today’s market, that may be the case. Don’t forget that in January, gold was trading at just $2,000 per ounce. And, by mid-April, the commodity’s price had climbed to around $2,400 per ounce. That’s about 20% growth in a matter of months, much of which happened since March 1 – an impressive climb for any investment asset.
Perhaps more importantly, gold’s price growth through the beginning of 2024 shows that the commodity doesn’t have to be a buy and hold style investment that you keep in a safety deposit box or precious metal depository for years to come. There’s also the possibility that the commodity’s price could climb further ahead, making it a compelling way to potentially generate a quick profit.
There are other benefits of investing in gold
There are other benefits of investing in gold that have little to do with the price growth seen thus far in 2024 – or the lull in prices seen over the past couple of days. Those benefits include:
- Inflation protection: Gold has long been considered an inflation hedge, and for good reason. When inflation drives the prices of consumer goods and services up – and the value of the dollar down – gold’s price tends to rise. So, it could be used to maintain the value of your portfolio during inflationary economic conditions. That’s important in today’s economic environment as stubborn inflation continues to weigh on the value of the dollar.
- Portfolio diversification: Gold’s price doesn’t always move in the same pattern that bonds or stocks do. So, mixing a reasonable amount of gold into your portfolio (up to 10% of your portfolio assets) as a diversifier could protect you from losses should one or more of your traditional portfolio assets fall in value. “If you have less than 5% – 10% of your net worth in commodities & FX (forex), you should absolutely consider adding exposure to gold and other precious metals,” says Vijay Marolia, money manager and managing partner at the wealth management firm, Regal Point Capital.
The bottom line
Gold’s price has fallen from recent highs – which may represent an opportunity to tap into growth ahead. However, gold isn’t simply a “buy while it’s low and sell while it’s a high” kind of investment opportunity. The commodity can also protect your portfolio from the stubborn inflation we’ve seen thus far in 2024 while acting as a diversification tool that could increase your risk-adjusted portfolio returns. So, consider adding gold to your portfolio today while it has the potential to grow in value.
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Is now the right time to invest in gold as prices have cooled?