UN-hosted Cyprus Talks Uncertain as One Side Says it Wasn't Invited

FILE PHOTO: Cyprus President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar, walk during a visit to the CMP Anthropological Laboratory in the buffer zone of Nicosia airport, Cyprus, July 28, 2023. REUTERS/Yiannis Kourtoglou/File Photo
FILE PHOTO: Cyprus President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar, walk during a visit to the CMP Anthropological Laboratory in the buffer zone of Nicosia airport, Cyprus, July 28, 2023. REUTERS/Yiannis Kourtoglou/File Photo
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UN-hosted Cyprus Talks Uncertain as One Side Says it Wasn't Invited

FILE PHOTO: Cyprus President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar, walk during a visit to the CMP Anthropological Laboratory in the buffer zone of Nicosia airport, Cyprus, July 28, 2023. REUTERS/Yiannis Kourtoglou/File Photo
FILE PHOTO: Cyprus President Nikos Christodoulides and Turkish Cypriot leader Ersin Tatar, walk during a visit to the CMP Anthropological Laboratory in the buffer zone of Nicosia airport, Cyprus, July 28, 2023. REUTERS/Yiannis Kourtoglou/File Photo

Tentative UN plans to convene the leaders of Cyprus's divided communities for talks as early as next week were uncertain on Monday as one side said it had not received an invitation.
The United Nations has been trying to find common ground for the resumption of long-stalled talks between rival Greek and Turkish Cypriot communities in a conflict spanning decades, a major source of tension between Greece and Türkiye, Reuters said.
Greek Cypriot leader Nikos Christodoulides told an audience late Saturday that he had been "sounded out" for talks hosted by the United Nations in New York on Aug. 13 with Secretary-General Antonio Guterres and Turkish Cypriot leader Ersin Tatar.
"My response was positive and I hope - we haven't been informed yet - for the same response from the Turkish side and the meeting to lead to positive results," Christodoulides said.
Tatar said he had not received an invitation and accused Christodoulides of trying to muddy the waters with his comment.
"There is no invitation from the UN Secretary-General ... for a tripartite meeting. In any case, under the current conditions, we would not approve a tripartite meeting. There is no basis for such a meeting," he said in a statement.
Christodoulides said any possible refusal from Tatar to meet would be a "disservice" to Turkish Cypriots.
A UN spokesperson in Cyprus referred queries to UN headquarters in New York, where there was no immediate response to a Reuters request for comment.
Cyprus was split in a Turkish invasion in 1974 after a brief Greek-inspired coup. The seeds of division were sown earlier when a power-sharing administration crumbled and violence prompted the dispatch of a peacekeeping force.
Peace talks have been on hold since 2017. The Turkish Cypriot side, which administers a breakaway state in the north of Cyprus recognized only by Ankara, now says a resumption of talks can only occur if its equal sovereignty with the internationally recognized Greek Cypriot government is accepted.



Gold Advances as Softer Core CPI Data Revives Fed Easing Hopes

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
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Gold Advances as Softer Core CPI Data Revives Fed Easing Hopes

A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)
A participant shows gold bars during the 21st edition of the international gold and jewelry exhibition at the Kuwait International Fairgrounds in Kuwait City on May 23, 2024. (Photo by Yasser AL ZAYYAT / AFP)

Gold prices extended gains on Wednesday, as the dollar dipped after US core inflation data came in softer than expected, abating inflation pressures and rekindling expectations that the Federal Reserve's easing cycle may not be over yet.

Spot gold gained 0.4% to $2,688.19 per ounce by 0915 a.m. ET (1415 GMT). US gold futures were up 1.1% to $2,711.40.

Excluding volatile food and energy components, core CPI increased 3.2% on an annual basis, compared with an expected 3.3% rise, the US Bureau of Labor Statistics said on Wednesday, Reuters reported.

"Core CPI came in a little bit below expectations. This is a bit of a positive for gold... The corollary to this is that the Fed will not necessarily exclude the possibility of cutting rates," said Bart Melek, head of commodity strategies at TD Securities.

"The probability of a rate cut in January is kind of nothing, but we are pricing some rate cuts by the end of the year here."

Markets now expect the Fed to deliver 40 basis points (bps) worth of rate cuts by year-end, compared with about 31 bps before the inflation data.

The dollar index eased 0.4%, making bullion more attractive for other currency holders. The benchmark 10-year Treasury yields also slipped.

Investors are worried that the potential for tariffs after President-elect Donald Trump re-enters the White House next week could stoke inflation and limit the Fed's ability to lower rates to a greater extent.

Non-yielding bullion is considered a hedge against inflation, although higher rates diminish its appeal.

However, the uncertainties around Trump's tariffs and trade policies for the global economy and their potential impact on growth are likely to sustain safe-haven demand for gold, said Zain Vawda, market analyst at MarketPulse by OANDA.

Spot silver firmed 1% to $30.23 per ounce, platinum rose 0.4% to $938.70, and palladium added 2% to $960.25.