Xi calls for upholding correct view of World War II history, safeguarding UN authority

China will join Russia in promoting the correct historical perspective on World War II, and safeguarding the authority and status of the United Nations, Chinese President Xi Jinping said in Moscow on Thursday.

Xi made the statement while holding talks with Russian President Vladimir Putin at the Kremlin. The Chinese president arrived in Moscow on Wednesday to pay a state visit to Russia and attend the celebrations marking the 80th anniversary of the victory in the Soviet Union's Great Patriotic War.

"Eighty years ago, the peoples of China and Russia made tremendous sacrifices and won great victories, making remarkable historic contributions to maintaining world peace and the cause of human progress. At present, in the face of the countercurrent of unilateralism and the act of power politics and bullying in the world, China will join Russia in shouldering the special responsibility as major countries of the world and permanent members of the UN Security Council to promote the correct historical perspective on World War II, safeguard the authority and status of the United Nations, resolutely defend the rights and interests of China, Russia and the vast number of developing countries, and promote an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization," Xi said.

"Esteemed President Xi Jinping, my good friend, the friendship forged between the Russian and Chinese peoples during the difficult years of war is one of the fundamental cornerstones of today's comprehensive strategic partnership of coordination for a new era between our two countries. We develop our bilateral relations to benefit our peoples, not to target any third party. Building good-neighborly relations, deepening friendship, and expanding cooperation is a shared choice made by Russia and China based on strategic coordination," said Putin.

Xi calls for upholding correct view of World War II history, safeguarding UN authority

Xi calls for upholding correct view of World War II history, safeguarding UN authority

Xi calls for upholding correct view of World War II history, safeguarding UN authority

Xi calls for upholding correct view of World War II history, safeguarding UN authority

Both Gold and silver prices hit record highs on Monday, driven by geopolitical tensions and market expectations for further U.S. Federal Reserve rate cuts.

Spot gold prices breached 4,420 U.S. dollars per ounce during the intraday trading on Monday, while gold futures contract on the New York Mercantile Exchange (NYMEX) briefly surpassed 4,450 U.S. dollars per ounce, both hitting all-time highs.

In addition, the silver futures contract on NYMEX climbed above 69.5 U.S. dollars per ounce on Monday, surging nearly three percent, also reaching a record high.

Bloomberg News reported that escalating geopolitical tensions and market expectations for further Fed rate cuts were the primary drivers behind the soaring gold prices.

Traders anticipate the Fed will cut rates twice in 2026 following last week's release of a series of U.S. economic data.

Meanwhile, U.S. President Donald Trump has consistently advocated more accommodative monetary policies.

Persistent geopolitical tensions in recent weeks have also heightened the safe-haven appeal of gold and silver.

Bloomberg projected on Monday that both gold and silver are poised for their strongest annual gains since 1979.

Due to purchases of central banks and inflows into exchange traded funds (ETFs), gold prices have surged by about two-thirds this year.

Gold-backed ETFs have recorded five consecutive weeks of increased inflows.

World Gold Council data shows that, except for May, the total holdings of these funds have increased month on month this year.

Beyond central banks, investors have also played a significant role in the gold price rally.

Fueled by concerns over the value of sovereign bonds and their denominating currencies, investors have been fleeing these assets.

The Wall Street Journal reported in October that investors who were concerned about the outlook for currencies like the U.S. dollar were aggressively buying alternative assets such as gold.

Goldman Sachs released a research report on December 18, forecasting that gold prices would rise to 4,900 U.S. dollars per ounce by the end of 2026.

Gold, silver prices soar to new record highs as investors hunt for safety