Lebanese Army Refuses to Coordinate with Damascus in Battle Against ISIS

Photo of Lebanese Army shelling ISIS positions on Saturday/NNA
Photo of Lebanese Army shelling ISIS positions on Saturday/NNA
TT
20

Lebanese Army Refuses to Coordinate with Damascus in Battle Against ISIS

Photo of Lebanese Army shelling ISIS positions on Saturday/NNA
Photo of Lebanese Army shelling ISIS positions on Saturday/NNA

Beirut- The final preparations for the upcoming Lebanese Army battle against ISIS at the eastern borders with Syria have already been triggered after the completion of a swap deal between Nusra Front and “Hezbollah” and the deportation of Nusra militants from Jurud Arsal to Idlib.

On Saturday, the Lebanese Army intensely shelled ISIS positions in Jurud Ras Baalbek and Al-Kaa ahead of launching a military operation against the terrorist group, which observers said was just days away.

“Army units continued Saturday to target terrorist organizations in the area of Ras Baalbek, firing rocket and heavy artillery shells, destroying a number of fortifications and vehicles and causing definite casualties among terrorists," said a statement by the Army Command.

Therefore, the Army counts on the intense battle against ISIS to push the terrorist organization to reveal the fate of nine Lebanese soldiers kidnapped in 2014.

Also on Saturday, the war media of “Hezbollah” revealed the latest battle map of the Lebanese-Syrian border, showing positions controlled by each of the Lebanese Army, the Syrian forces and ISIS militants at the eastern borders.

“Our concern about the fate of the nine Lebanese soldiers constitutes the basic element in all what is currently happening. There should be a certain kind of pressure exerted on the terrorist organizations to reopen negotiations and release the soldiers,” Defense Minister Yaacoub Sarraf said on Saturday.

Meanwhile, a military source told Reuters that the Lebanese army will not coordinate with the Syrian army to fight against ISIS in the Lebanese-Syrian border zone, rejecting a media report published by Al-Joumhuriya newspaper on Saturday saying that the Lebanese army has been coordinating the upcoming battle against ISIS in Ras Baalbek outskirts with Syrian regime military.

The source said the Lebanese army had the military capability to confront and defeat the group without any regional or international support.



Gold Edges up as Investors Await Fed Jackson Hole Conference

A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo
A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo
TT
20

Gold Edges up as Investors Await Fed Jackson Hole Conference

A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo
A salesman arranges gold bangles inside a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Mumbai, India, May 7, 2019. REUTERS/Francis Mascarenhas/File Photo

Gold prices edged up on Tuesday, supported by a softer dollar and Treasury yields, as investors hunkered down for Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole later this week.

Spot gold was up 0.2% at $3,335.24 per ounce by 09:38 a.m. ET (1338 GMT). US gold futures for December delivery rose 0.1% to $3,380.10.

The dollar index fell 0.1% against its rivals, while benchmark 10-year yields also slipped, Reuters reported.

"Generally, (traders are) positioning in the futures market ahead of the Jackson Hole meeting... it's going to be pretty quiet up until then," said Jim Wyckoff, senior analyst at Kitco Metals. The Federal Reserve is set to hold its annual symposium later this week in Jackson Hole, Wyoming, with Fed Chair Jerome Powell scheduled to speak on the economic outlook and central bank's policy framework on Friday. US President Donald Trump has continued to urge the Federal Reserve to pursue deeper rate cuts.

"My sense is that (Powell) might lean a little bit more dovish... that would be friendly for gold and silver prices," Wyckoff said.

Non-yielding gold, traditionally considered a hedge during times of uncertainty, also tends to perform well in low-interest rate environments.

Traders see an 83% chance of a 25-basis-point Fed rate cut in September, according to CME's FedWatch tool. Meanwhile, Trump said on Tuesday he hoped Russia's Vladimir Putin would move toward ending the war in Ukraine.

On the data front, minutes from the Federal Reserve's July meeting, set to be released on Wednesday, are expected to shed light on the US economic outlook. UBS on Monday raised its gold price target for end-March 2026 by $100 to $3,600 on persistent US macroeconomic risks, a decline in dollar use, and strong investment demand.

Elsewhere, spot silver fell 0.1% to $37.98 per ounce, platinum was up 1.4% at $1,341.40, while palladium fell 0.1% to $1,122.32.