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"The Big Short" traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. "I just don't think Americans have enough gold in their portfolio," Collins said on CNBC's " Fast Money " in an exclusive interview this week . We are still very long gold , gold miners , Silver , Platinum Group Metals (PGMs) and Bitcoin ," they wrote. In a special email to "Fast Money" on Monday, Moses wrote he has a "large long" in the Sprott Physical Gold Trust . As of Friday's close, the Sprott Physical Gold trust is up more than 16% so far this year.
Persons: Danny Moses, Vincent Daniel, Porter Collins, Collins, Daniel, Moses Organizations: Seawolf, Group Metals, Moses Ventures, Trust Locations: U.S
The covert nature of Brahe’s work was common among alchemists of the Renaissance, who kept their knowledge close to the vest. “Tungsten had not even been described at that time, so what should we infer from its presence on a shard from Tycho Brahe’s alchemy workshop?” Rasmussen said. In addition to serving as Brahe's home, Uraniborg functioned as a scientific center where students across Europe came to live and work. And Brahe himself wrote that the king was eager to support the scientist’s work in both astronomy and alchemy. Given the amount of gold found in Brahe’s remains, he may have also taken medicine containing potable, or drinkable, gold.
Persons: Tycho Brahe, Brahe, Kaare Lund Rasmussen, Poul Grinder, Hansen, Uraniborg, Lund University Gold, Rasmussen, , “ Tungsten, ” Rasmussen, Ann Ronan, Carl Wilhelm Scheele, Juan José, Fausto d’Elhuyar y de Suvisa, wolfram, Georgius Agricola, Agricola, Lawrence Principe, Drew, ” Principe, King Frederick II of Denmark, De Agostini, Paracelsus, Rudolph II, Emperor, Stjerneborg, , ” Brahe, Isaac Newton, Johns, King Frederick II’s, Christian IV, Johannes Kepler, Kepler, Newton, Galileo Galilei Organizations: CNN, University of Southern, National Museum of Denmark, Heritage, Lund University, Getty Images, Humanities, Singleton Center, Johns Hopkins University, De Agostini Editorial, Culture, Hulton, Art, Sun, Scientific Locations: Danish, Ven, Sweden, University of Southern Denmark, Copenhagen, Europe, Baltimore . Principe, Norway, Uraniborg, Brahe’s, Mercury, Principe, Johns Hopkins
GLD 5Y mountain GLD The SPDR Gold Shares ETF is the world's largest, with BlackRock's iShares Gold Trust and iShares Physical Gold ETC the second and third, respectively. Other top physical gold ETFs include the Borse Commodities GmbH Xetra-Gold and the SPDR Gold MiniShares Trust . Gold mining ETFs Buying gold mining ETFs — which own shares of multiple gold mining companies — is another way to get exposure to gold, and Meyer described those backed by large banks as "relatively safe," in an email to CNBC. "Even though gold equities respond to changes in gold price, the degree of that response has deteriorated over time," he said, adding that the risks and costs of gold extraction can weigh on miners. A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024.
Persons: Tom Price, Price, Berenberg, Robin Bhar, Amy Arnott, John Meyer, Colin Hamilton, BlackRock's, Meyer, Barrick Gold Panmure Liberum, George Milling, Stanley, they're, Morningstar's Arnott, Bhar, Chris Ratcliffe Organizations: CNBC, Panmure, Bank of America, Citi, UBS, Gold, Morningstar, SP, CNBC Pro, Royal Mint, BMO Capital Markets, Borse Commodities, MiniShares, Gold Miners ETF, Miners, Barrick, Resolute Mining, Hochschild, Caledonia Mining, Barrick Gold Panmure, Endeavour Mining, Endeavour, Pan, Resources, State Street Global Advisors, Gold Investments, Bloomberg, Getty Locations: Panmure Liberum, U.S . New York, United States, U.S, Hochschild Mining, Zimbabwe, London, West Africa, Berenberg
Gold firms ahead of U.S. inflation data, but set for weekly loss
  + stars: | 2024-07-26 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was on track for a weekly loss, even as prices firmed on Friday ahead of a key U.S. inflation reading that could offer more cues on when the Federal Reserve will cut interest rates. "Last week, prices scaled record highs on bets of a September U.S. rate cut. The U.S. personal consumption expenditure data for June — the Federal Reserve's favored measure of inflation — is due at 1230 GMT. Meanwhile, India's demand for gold is likely to rise while moving into the fourth quarter, which is traditionally a robust seasonal period for gold demand," ANZ's Kumari said.
Persons: Gold, Soni Kumari, Sugandha Sachdeva, ANZ's Kumari Organizations: Aurum, Federal Reserve, ANZ, SS, U.S ., Hong Kong Locations: U.S, New Delhi, China, Hong
Traditional infrastructure might not seem as sexy as the newer AI data centers, but Bank of America believes traditional infrastructure has stronger growth prospects than AI infrastructure. The heavy focus on technology and AI has resulted in investors overlooking traditional infrastructure investment. Invest in industrials and materialsIn particular, Bank of America identified the industrials and materials sectors as the best investment opportunity within traditional infrastructure. The industrials sector trades at a relative forward PE of 0.98, and materials trades at 0.92. AdvertisementSome specific industries within those sectors are especially undervalued, such as construction materials and metals & mining.
Persons: , there's, Savita Subramanian, it's, Reshoring Organizations: Service, Big Tech, American Society of Civil Engineers, Business, Bank of, Bank of America Government, Bank of America, Bank, Invest, Industrial Locations: North America, industrials
Gold skids on profit-taking, with U.S. economic data on radar
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: +1 min
Gold prices fell more than 1% on Thursday as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much. Spot gold fell 1.2% to $2,369.20 per ounce by 0533 GMT. So, it looks like we are seeing some profit-taking and from a technical perspective, prices could move lower," said Kelvin Wong, OANDA's senior market analyst for Asia Pacific. Traders are expecting that the Fed will deliver a long-awaited rate cut in September. If PCE data shows that inflation is slowing and the Fed can cut rates in September, then we will see a resurgence in gold prices, Wong said.
Persons: Kelvin Wong, OANDA's, Wong Organizations: Asia Pacific, Federal, Gold Locations: U.S
A team of international scientists has found that oxygen is being produced in complete darkness approximately 4,000 meters below the ocean's surface. An international team of scientists has discovered that oxygen is being produced by potato-shaped metallic nodules thousands of feet below the surface of the Pacific Ocean. A team of scientists led by Professor Andrew Sweetman at the U.K.'s Scottish Association for Marine Science found that oxygen is being produced in complete darkness approximately 4,000 meters (13,100 feet) below the ocean's surface. "For aerobic life to begin on the planet, there had to be oxygen and our understanding has been that Earth's oxygen supply began with photosynthetic organisms," Sweetman said. "But we now know that there is oxygen produced in the deep sea, where there is no light.
Persons: Andrew Sweetman, Sweetman Organizations: Nature Geoscience, Scottish Association for Marine Science
Morgan Stanley upgrades Skechers to overweight from equal weight and downgrades Under Armour to underweight from equal weight Morgan Stanley said its Skechers channel checks looked promising. "We initiate coverage of LandBridge (LB) with a Buy rating and a $35 price target following its IPO last month." Morgan Stanley reiterates First Solar as overweight Morgan Stanley said First Solar could benefit from a new Trump administration. Morgan Stanley reiterates Amazon as top pick Morgan Stanley said Amazon is its favorite pick ahead of earnings, but that the firm also likes Alphabet and Meta. Morgan Stanley initiates Alumis as overweight Morgan Stanley said it's bullish on shares of the immunology company.
Persons: TD Cowen, Morgan Stanley, Armour, Bernstein, Apple, Guggenheim, Tesla, Baird, it's, Krispy Kreme, Goldman Sachs, Goldman, Trump, Wells, Piper Sandler, Piper, TD Cowen downgrades Darden, Cowen, Oppenheimer Organizations: Procter, Gamble, HSBC, CrowdStrike, Qualcomm, JPMorgan, Goldman, Barclays, Nvidia, Amazon, Microsoft, Citi, Rio Tinto, Deutsche Bank, Aerospace, Deutsche, Farnborough Air, Darden Locations: Rio, Olive, stagnate
The so-called "Magnificent Seven" were among the hottest stocks last year, but one wealth manager says they are "wildly overvalued" and has his sights elsewhere. The Magnificent Seven comprises Alphabet , Amazon , Apple , Meta Platforms , Microsoft , Nvidia and Tesla , which continue to be in the spotlight thanks to the buzz around artificial intelligence. Other global stocks Global stocks Dennison is betting on include Fresenius Medical Care , a German health-care company, and Kazatomprom, a Kazakhstan-headquartered producer of uranium. "It is a top position in many pension portfolios and has become a value stock because of the strong Swiss Franc," he said. Value stocks are often cheaper than so-called growth stocks and typically trade at a lower price than what the company's performance indicates.
Persons: Tariq Dennison, Dennison, he's, Russell, Chow, Fook, Tencent, Goldman Sachs, Kazatomprom Organizations: GFM Asset Management, CNBC Pro, Apple, Microsoft, Nvidia, Tesla, Nasdaq, Value, Avantis U.S, Abercrombie, Fitch, Cadence Bank, Commercial Metals, KB, Jackson Financial, Warrior, MTR Corp, Global, Dennison, Fresenius, London Stock Exchanges, U.S, Nestle, Six Swiss Exchange Locations: U.S, China, Hong Kong, Kazakhstan, Swiss
It’s also possible, these scientists warn, that deep-sea mining could disrupt the way carbon is stored in the ocean, contributing to the climate crisis. A documentary about deep-sea mining that Sweetman watched in a hotel bar in São Paulo, Brazil, unleashed a breakthrough. However, several countries, including the United Kingdom and France, have expressed caution, supporting a moratorium or ban on deep-sea mining to safeguard marine ecosystems and conserve biodiversity. Earlier this month, Hawaii banned deep-sea mining in its state waters. Many unanswered questions remain about how dark oxygen is produced and what role it plays in the deep-sea ecosystem.
Persons: Andrew Sweetman, they’re, , Sweetman, , SAMS, I’ve, , Franz Geiger, ’ ”, Geiger, Charles E, Emma H, Morrison, Daniel Jones, Beth Orcutt, Orcutt, Craig Smith, Smith, Camille Bridgewater, Hawaii’s Smith, ” Geiger, Diva Amon, ” Sweetman Organizations: CNN, Clarion, Scottish Association for Marine Science, Nature, NHMDeepSea, SMARTEX, International, Authority, UN, AA, Northwestern University, Northwestern’s Weinberg College of Arts and Sciences, National Oceanography, Bigelow Laboratory, Ocean Sciences, University of Hawaii, Geological Survey, University Locations: São Paulo, Brazil, Evanston , Illinois, Southampton, England, Maine, Mānoa, Jamaica, United Kingdom, France, Hawaii, Clarion
Safe-haven gold firms as Biden move sparks market uncertainty
  + stars: | 2024-07-22 | by ( ) www.cnbc.com   time to read: +2 min
A one kilogram gold bar sits on top of silver bars at London bullion dealers Gold Investments in London, United Kingdom, on April 4, 2013. Gold prices firmed on Monday as the dollar eased following U.S. President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook. Spot gold rose 0.2% at $2,405.40 per ounce, as of 0510 GMT, while U.S. gold futures gained 0.3% to $2,407.20. The prospect of rate cuts and political uncertainty in the United States are supporting gold prices, and conditions are in place for gold to see another record high before the end of 2024, said Kyle Rodda, a financial market analyst at Capital.com. Among other metals, spot silver fell 0.5% to $29.11 per ounce, platinum slipped 0.3% to $959.99, while palladium rose 1.1% to $916.18.
Persons: Joe Biden's, Kyle Rodda, Joe Biden, Donald Trump, Trump, Gold, Rodda Organizations: London, Investments, Republican, U.S Locations: London, United Kingdom, United States, U.S, China
Best Investing Apps of 2024Top Investing Apps of 2024The best investment apps help you achieve wealth-building goals while diversifying your portfolio and providing the accessibility and convenience of mobile trading for the everyday investor. Here are the best investment apps available to traders, as chosen by Business Insider's editors in 2024. Best Investing App OverallE*TRADE is a one-stop shop for investing and the overall best app. Betterment reviewBest Investing App for MobileAs one of the best stock trading apps for beginners, Acorns Invest is the best investing app for mobile traders seeking automated trading strategies and customized ETF portfolios. Best Investment Apps FAQsWhat is the best app to start investing on?
Persons: you'll, Vanguard's, Wealthfront, you've, Charles Schwab, we've, Brian Fry, Charlotte Geletka, Kaysian Gordon Organizations: Business, Mobile, Finance, M1 Finance, M1, IRA, Vanguard, Stock Market ETF, Bond, Blackrock, Invest, Chevron, SoFi Invest, Fidelity, Apple
Fidelity vs. Charles Schwab: At a GlanceFidelity and Charles Schwab are two of the largest and most reputable brokerage firms featured in several of our guides, including the best robo-advisors. Making a Choice: Fidelity vs. Charles SchwabFidelity Investments and Charles Schwab are great for all kinds of traders. Charles Schwab is better for higher balances and offers a more comprehensive selection of advanced charting tools like the thinkorswim platform. Fidelity vs. Charles Schwab Frequently Asked Questions (FAQs)Can I open both Fidelity and Charles Schwab accounts? You can open both a Fidelity and Charles Schwab brokerage account to take advantage of each platform's best features and services.
Persons: Morningstar, Charles Schwab Insider’s, Schwab, Charles Schwab, It's, Charles Schwab's, Schwab's Organizations: Fidelity Investments, Fidelity, Business Daily, Investment, Financial Products Fidelity, Teen, Charles, U.S, Fidelity Wealth Services, Technology, Pro, screeners, Schwab, Ameritrade, Charles Schwab Fidelity Investments Locations: cryptocurrencies, Chevron
Every year in Kazakhstan, workers pull hundreds of thousands of tons of copper from below the nation’s soil. Exporting oil and metals has been the life force of this former Soviet republic’s economy for decades. Now, as the world moves toward cleaner energy and electric vehicles, nickel and other minerals have become even more valuable, kicking off a boom. China, the country’s neighbor to the east, is well positioned to capitalize. It has invested billions upgrading Kazakhstan’s rail lines ...… and new ports and other infrastructure — visible symbols that this Central Asian country is open for business.
Locations: Kazakhstan, Soviet, China
Gold shines on rising Fed rate-cut outlook
  + stars: | 2024-07-18 | by ( ) www.cnbc.com   time to read: +2 min
Spot gold rose 0.1% to $2,461.27 per ounce, as of 0218 GMT. Fed Governor Christopher Waller and New York Fed President John Williams both noted the shortening horizon toward looser monetary policy. Separately, Richmond Fed President Thomas Barkin said he is "very encouraged" on broadening declines in inflation. "Over the next 6-12 months, regardless of who wins the (U.S.) election, we see gold rising to $2700-$3000 and silver to $38," Citi Research said. Spot silver rose 0.2% to $30.35, platinum steadied at $994.81 and palladium gained 0.4% to $955.77.
Persons: Ryan McIntyre, Christopher Waller, John Williams, Thomas Barkin, CME's Organizations: Sprott Asset Management, Holdings, New York Fed, Richmond Fed, Federal, Citi Research, Investors, U.S Locations: U.S, ., China
It's hard work and requires you to be precise — that kind of intensity was something I was looking for in a job. Related storiesI'm killing my body every day, but it's worth it because welders make insane money, and I'm getting jacked doing it. AdvertisementI can see the hard work paying off physically; it's great for the body. I'm covered in bruises and scratches from the job — I'm definitely pretty beat up. You just need to ensure you have a good supervisor who knows you work hard and respects you.
Persons: , Elizabeth, I'd, I've, I'm, it's, Elizabeth There's, who's, Elizabeth Next Organizations: Service, Business, Red Seals Locations: Alberta, Canada
You can contact your card issuer to receive a postage-paid envelope and mail your metal card back for them to destroy, or you could drop into a local branch for the issuing bank and ask them to destroy the card. Whether your card has expired, you're cutting ties with your credit company, or you simply need to replace a compromised card, knowing how to safely and effectively destroy a metal credit card is crucial. What Makes Metal Credit Cards UniqueThe uniqueness of metal credit cards lies in their core composition. Methods to Destroy Metal Credit CardsWhen it's time to say goodbye to your metal card, you have a few options. How do I ensure all data is destroyed when disposing of my metal credit card?
Persons: it's Organizations: Chase, American
Gold drifts higher as U.S. rate cut optimism boosts appeal
  + stars: | 2024-07-16 | by ( ) www.cnbc.com   time to read: +2 min
A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary. Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold rose 0.1% to $2,423.89 per ounce by 0140 GMT. A rate cut in September is now fully priced in by markets, which may keep sentiments in gold prices well-supported in the lead-up," said IG market strategist Yeap Jun Rong. Investors were awaiting U.S. retail sales data due at 1230 GMT on Tuesday and comments from Fed governors Christopher Waller and Adriana Kugler later this week for further direction.
Persons: Jerome Powell, Powell, Yeap Jun Rong, Christopher Waller, Adriana Kugler, Yeap Organizations: Argor Hebaeus SA, Federal, Investors, Reuters Locations: Swiss, Budapest, Hungary
Menendez maintains his innocence and plans to appeal the verdict, he told reporters outside the Manhattan courtroom on Tuesday. The discovery that Menendez owned a hoard of gold bars stunned many people. And now even Costco sells gold bars. The two kilograms and 11 ounces worth of gold bars Menendez and his wife possessed would have been worth over $185,000 as of Tuesday, according to Goldprice.org data. Other people who prefer to keep gold under their own roof store it in a gun safe or floor safe, he added.
Persons: Sen, Bob Menendez, Menendez, Jonathan Rose, ” Rose, , , Rose, it’s Organizations: New York CNN, Bank, Genesis Gold, Western Alliance, CNN, Costco, Dow, IRS Locations: New York, Manhattan, Beverly Hills , California
Gold eases, investors seek more cues on Fed's rate path
  + stars: | 2024-07-15 | by ( ) www.cnbc.com   time to read: +2 min
A selection of gold bars and one-ounce gold coins at Gold Investments Ltd. bullion dealers in London, UK, on Tuesday, May 21, 2024. Gold prices dipped on Monday as the dollar held firm, while investors awaited comments from Federal Reserve officials and economic data for further cues on U.S. interest rate trajectory. The dollar rose on safety bids after an attempted assassination of former U.S. President Donald Trump, which raised his odds of winning. Data sets due this week include U.S. retail sales, industrial output for June and weekly jobless claims. "If we get another big miss on retail sales, it will reinforce there is a sense of urgency to cut rates, which could help gold.
Persons: Donald Trump, I'm, Trump, Matt Simpson, Jerome Powell, Ilya Spivak Organizations: Gold Investments, Federal Reserve, Trump, Index Locations: London, Beijing
Gold eases, but set for weekly gain on Fed rate cut bets
  + stars: | 2024-07-12 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September. Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September. "Inflation outlook and interest rate picture have moved in favor of gold this week. As we move closer to a lower interest rate environment, conditions could be ripe for gold to set new record highs before the year is out," said Tim Waterer, KCM Trade's chief market analyst. Lower interest rates reduce the opportunity cost of holding non-yielding bullion.
Persons: Tim Waterer, KCM, Mary Daly, Austan Goolsbee, Waterer Organizations: Federal Reserve, San Francisco Fed Bank, Chicago Fed Bank Locations: U.S
Peering into their computer screens in California last year, the data crunchers watched a subterranean fortune come into focus. What they saw transported them 10,000 miles across the world, to Zambia, and then one more mile straight down into the Earth. On Thursday, their company, KoBold Metals, informed its business partners that their find is likely the largest copper discovery in more than a decade. According to their estimates, reviewed by The New York Times, the mine would produce at least 300,000 tons of copper a month once fully operational. The New York Times also reviewed an independent, third-party assessment of KoBold’s claims, which, while slightly more conservative than KoBold’s own, largely corroborated the size of the deposit.
Persons: KoBold Organizations: KoBold Metals, The New York Times, New York Times Locations: California, Zambia
CNN —The average menstruating person will spend about five years of their total reproductive lifespan using an estimated 11,000 tampons, sanitary pads, panty liners and other menstrual products, experts say. What if some of those menstrual aids contain heavy metals or potentially toxic chemicals linked to chronic diseases and reproductive and developmental problems? “I do not want people to panic, but to be aware that heavy metals have been found in these menstrual products,” Schilling said. “However, there is no reason for people to be afraid to use menstrual products at this time,” she added. The team ran tests for 16 heavy metals: arsenic, barium, calcium, cadmium, cobalt, chromium, copper, iron, manganese, mercury, nickel, lead, selenium, strontium, vanadium and zinc.
Persons: Kathrin Schilling, ” Schilling, Amanda Hils, ” Hils, Anna Pollack, , Pollack, , tampons Schilling, nonorganic tampons, hasn’t, Nancy King Reame, Reame Organizations: CNN, US Environmental Protection Agency, Columbia University’s Mailman, of Public Health, US Food and Drug Administration, George Mason University, US Geological Survey . Chemicals, Environmental Health, Institute for Green Science, Carnegie Mellon University, American Chemistry Council, , for Disease Control, Prevention, FDA, School of Nursing, Columbia University Medical Center Locations: New York City, , Fairfax , Virginia, United States, United Kingdom, Greece, tampons, Pittsburgh
The Biden administration took steps on Wednesday to prevent China from circumventing American tariffs on Chinese steel and aluminum by routing those imports through Mexico. The administration said it would impose tariffs on imports of Mexican metals that are partially made in China. American officials said the move would close a trade loophole that has allowed cheap, state-subsidized Chinese metals to circumvent existing U.S. tariffs. The United States will now impose a 25 percent tariff on Mexican steel that is melted or poured outside of North America before being turned into a finished product. Previously, that steel would have entered the country duty free.
Persons: Biden, Lael Brainard Organizations: White, Economic Council Locations: China, Mexico, United States, North America, Mexican, Belarus, Iran, Russia
The NATO official said they had observed “an unprecedented escalation and spread of Russia’s hybrid warfare” over the past six months, which included “physical sabotage” on the supply line of NATO weapons intended for Ukraine. “It is everything from point of production and origin, to storage, to those who are making decisions, to the actual delivery,” the senior NATO official said. Recent high-profile arrests have revealed the ad-hoc, clumsy nature of how the Kremlin’s intelligence operations have evolved since the start of the war in Ukraine. Russia is big enough to have resources to fight a war against Ukraine and also maintain its security operations against European countries… against us. There are people who take part in the war against Ukraine, and then they are rotated to some other region or area.
Persons: Blunt, , Donald Tusk, Dariusz Borowicz, Agencja Wyborcza.pl, Maxim, Andrzej, Jaroslaw, , Don’t, ” Andrzej, I’d, Wagner, Volodymyr Zelensky, Sean Gallup, Paris Charles de, Vladimir Putin’s, Harrys Organizations: CNN, NATO, Polish, Reuters, Ukraine, Getty, London’s Metropolitan Police Service, Kremlin, EU, Estonian Locations: Ukraine, Russia, Europe, , Reuters Russia, Washington , DC, Moscow, Poland, Russian, Lublin, Medyka, Ukrainian, Biala Podlaska, Warsaw, Polish, surveilling Rzeszow Jasionka, Kyiv, Berlin, Germany, Russian Ukrainian, Paris Charles, Paris Charles de Gaulle, East London, Estonia, Russia’s
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