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Nepal Social Media Ban Protest: 19 persons were reportedly killed and more than 250 people have been injured as police in Nepal fired tear gas and rubber bullets and used water cannons to disperse protesters, mostly young people who tried to break into Parliament during a protest on Monday over a social media shutdown and alleged government corruption, according to Nepal's Health MinistryThe Himalayan Times reported that a "Gen Z" protester reportedly died while several others sustained injuries in New Baneshwor in Kathmandu and in Damak city in Jhapa district in the Koshi province in the east of the country, in escalating demonstrations.Incidentally, Damak is the hometown of Prime Minister KP Sharma Oli.ALSO READ: Nepal’s Gen Z protests social media ban, calls for end to corruptionOne of the protesters was allegedly shot as protesters clashed with police in New Baneshwor. He died while receiving treatment at Civil Hospital. The identities of some injured remain unconfirmed, the news outlet reported.Soon after, the Himalayan Times reported that a second 'Gen Z' protester died in Kathmandu while receiving treatment at a trauma centre.The Kathmandu district administration office (DAO) declared the curfew from 12:30 PM to 10 PM on Monday.ALSO READ: Nepal protests: What triggered the massive deadly chaos in India's neighbourhood?The Kathmandu Post reported that later restrictions were extended to cover the residences of the president, prime minister, and vice-president and Singha Durbar.It includes the President's residence, Shital Niwas area, Maharajgunj, the vice-president's residence in Lainchaur, all sides of Singha Durbar, the prime minister's residence in Baluwatar, and surrounding areas.The Himalayan Times reported that the Nepali Army has been deployed to support security forces after protesters stormed restricted zones and the Federal Parliament premises.Last week Nepal had blocked access to social media platforms, including popular sites like Facebook Instagram, WhatsApp, YouTube and others in a crackdown on misuse.The Social Media ban came into effect on September 4 targeting platforms that had not registered with the Nepalese government.The government said social media users with fake IDs have been spreading hate speech and fake news, and committing fraud and other crimes via some platforms.Local media reported that protesters marched from Damak Chowk toward the municipal office, burning an effigy of Prime Minister KP Sharma Oli and attempting to break municipal gates. Police intervened with rubber bullets, leaving one critically injured. Demonstrators also set fire to several motorcycles, escalating tensions.Protesters threw tree branches and water bottles, shouting slogans against government corruption, and some even entered the Parliament premises, According to Kathmandu Post.The Himalayan Times reported that officials described the situation as highly tense, and security forces are attempting to restore order while ensuring civilians' safety.Beyond Kathmandu and Jhapa, Gen Z youths also staged protests in Pokhara, Butwal, Chitwan, Nepalgunj and Biratnagar.

Gold prices rose to a record high on Monday, breaking through a key $3,600 level after soft U.S. jobs data cemented expectations of an interest rate cut by the U.S. Federal Reserve at its meeting next week. Spot gold was up 0.7% at $3,612.20 per ounce, as of 0841 GMT. Bullion rose to a record high of $3,616.64 earlier in the session. Bullion has surged 37% so far this year, building on a 27% gain in 2024, driven by a weaker dollar, strong central bank buying, a soft monetary policy backdrop, and geopolitical and economic uncertainty. U.S. gold futures for December delivery were unchanged at $3,653.10. U.S. job growth weakened sharply in August, data showed on Friday, and the unemployment rate increased to a nearly four-year high of 4.3%, confirming that labor market conditions were softening and sealing the case for a Fed rate cut next week. "(Rate cut bets) are boosting the demand of gold. Moreover, the overall geopolitical scenario is extremely uncertain ... we should consider that a significant part of the demand is also coming from central bank buying,"," said Carlo alberto De Casa, an external analyst at Swissquote. Traders have priced in a 90% chance of a 25-bp cut this month, according to the CME FedWatch tool. Lower interest rates decrease the opportunity cost of holding non-yielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies. "We look for gold to rise to $3,700/oz by mid next year," said UBS analyst Giovanni Staunovo. Benchmark 10-year U.S. Treasury yields, meanwhile, were near their lowest in five months. Focus now shifts to U.S. inflation report, due on Thursday, that could offer more clarity on the size of the Fed's expected rate cut. StoneX analyst Rhona O'Connell added that the continued momentum for gold "was aided by CTA activity." Gold speculators raised net long positions by 20,740 contracts to 168,862 in the week ended September 2. Elsewhere, spot silver rose 0.3% to $41.08 per ounce. Platinum climbed 1.6% to $1,394.90, and palladium gained 1.3% to $1,124.24.