Pakistani protesters demonstrate outside the US consulate in Lahore after the US accused the country's most powerful intelligence agency of supporting extremist attacks against American targets in Afghanistan. K.M. Chaudary / AP Photo
Pakistani protesters demonstrate outside the US consulate in Lahore after the US accused the country's most powerful intelligence agency of supporting extremist attacks against American targets in AfgShow more

Pakistani PM deflects US pressure over Afghan militants



Yousuf Reza Gilani spoke to a gathering of political and military leaders trying to formulate a response to US allegations that the army's spy agency is supporting the insurgents.

The claims last week by Admiral Mike Mullen, the US's top military officer, sent relations between Islamabad and Washington plummeting and triggered a nationalist, anti-American backlash across Pakistan.

Much of the focus has been on veiled US threats of unilateral action against Afghan militants sheltering on the Pakistan side of the border.

"Pakistan cannot be pressured to do more, but the doors are still open from our side for talks and discussion," said Mr Gilani.

The intelligence chief, Lt General Ahmed Shuja Pasha, was also scheduled to address the gathering, which was closed to the media.

US officials have long talked with Islamabad about links between Pakistan and the Haqqani network that is behind much of the violence in Afghanistan.

Those discussions were mostly held in private, in the hope that Pakistan could gradually be persuaded to sever the purported ties with the group.

But Admiral Mullen seemed to signal a new approach last week when he told Congress that that Haqqani network was a "veritable arm" of the spy agency, which he said supported the militants in a recent attack on the US embassy in Kabul.

Pakistani officials have denied the allegations and accused Washington of making them a scapegoat for US failures in Afghanistan.

Most of Pakistan's feuding political party leaders were present at yesterday's meeting, a sign of how US threats can unite them.

The attendants are expected to issue a resolution condemning the US but it is unclear whether the statement will touch on the allegations of Pakistan support for Afghan militants, a far more sensitive topic because it could set off criticism of the army.

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Israel Palestine on Swedish TV 1958-1989

Director: Goran Hugo Olsson

Rating: 5/5

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

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Uefa Champions League semi-final, first leg

Barcelona v Liverpool, Wednesday, 11pm (UAE).

Second leg

Liverpool v Barcelona, Tuesday, May 7, 11pm

Games on BeIN Sports

Director: Paul Weitz
Stars: Kevin Hart
3/5 stars

The bio:

Favourite film:

Declan: It was The Commitments but now it’s Bohemian Rhapsody.

Heidi: The Long Kiss Goodnight.

Favourite holiday destination:

Declan: Las Vegas but I also love getting home to Ireland and seeing everyone back home.

Heidi: Australia but my dream destination would be to go to Cuba.

Favourite pastime:

Declan: I love brunching and socializing. Just basically having the craic.

Heidi: Paddleboarding and swimming.

Personal motto:

Declan: Take chances.

Heidi: Live, love, laugh and have no regrets.

 

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