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WMO says El Nino increases risk of extreme weather

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WMO says El Nino increases risk of extreme weather

2026-06-03 09:50 Last Updated At:15:10

Fueled by unusually warm ocean waters in the tropical Pacific, El Nino conditions are developing and are set to influence global temperature and rainfall patterns, increasing the risk of extreme weather over the coming months, said the World Meteorological Organization (WMO) on Tuesday.

"Our experts estimate an 80 percent probability that El Nino conditions will emerge in the period between June and August 2026. This likelihood increases to around 90 percent through the remainder of the forecast period, that is September-December. The footprint of El Nino travels far beyond its origins in the Pacific Ocean, impacting agriculture, energy supplies, trade, water resources, supply chains and livelihoods across entire regions," WMO Secretary-General Celeste Saulo said at a press conference in Geneva, Switzerland.

The WMO community will be carefully monitoring conditions in the coming months to inform governments, humanitarian agencies and climate-sensitive sectors, Saulo said, adding that advance seasonal forecasts and early warnings are vital to save lives and cushion the impact of El Nino.

According to the WMO, El Nino is typically marked by rising ocean surface temperatures in the central and eastern Equatorial Pacific. It generally occurs every two to seven years and lasts between nine and 12 months.

Typically developing between March and June and reaching its peak intensity between November and February, El Nino's influence on global temperatures is most evident in the second year after development.

WMO says El Nino increases risk of extreme weather

WMO says El Nino increases risk of extreme weather

Gold became the largest component of global official reserves in 2025, surpassing holdings of U.S. Treasuries and the euro as rising prices boosted its share, the European Central Bank (ECB) said Tuesday.

Gold made up 27 percent of the total official foreign reserves, including foreign exchange and gold holdings, at the end of 2025, compared with 22 percent for U.S. Treasuries and 15 percent for the euro, according to an ECB report.

Data released by the ECB showed that global central bank gold purchases surged in 2022, peaked in 2024, and then eased in 2025.

Gold purchases by central banks fell to around 850 tons, below the average level between 2022 and 2024, which topped 1,000 tons. Despite historically high prices, demand for gold remained elevated.

The increase in gold's share of official reserves was driven largely by soaring prices, the ECB said. Gold prices soared by 60 percent and 30 percent in nominal terms in 2025 and 2024, respectively.

Apart from diversification, central banks use gold as a hedge against geopolitical risk. However, compared to fiat currencies, gold's status as part of reserves has limitations, the ECB report argued, citing price volatility, the inability to be remunerated, high storage costs, and inelastic supply.

Gold surpasses US Treasuries, euro in global official reserves: ECB

Gold surpasses US Treasuries, euro in global official reserves: ECB

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