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There have been celebrations across Israel and the Palestinian territories as a major hostage and prisoner exchange on Monday marked a significant step towards ending two years of war in Gaza, BBC reported.

In a crucial first phase of the US-brokered plan to end the war, Hamas returned all living Israeli hostages, while Israel freed almost 2,000 Palestinian prisoners and detainees.

There were emotional scenes as families of the Israeli hostages screamed and cried with happiness as they embraced their freed loved ones.

And for the Palestinians who were freed from Israeli jails, huge crowds waving flags and playing patriotic music greeted them as they arrived on buses in Gaza and the occupied West Bank, according to BBC.

Gold prices scaled to another record high on Monday as investors revved up their safe-haven bets after U.S. President Donald Trumprenewed tariff threats against China, while expectations of U.S. interest rate cuts added to the metal's allure, Reuters reported.

Silver also jumped to an all-time peak, tracking gold's rally.

Spot gold was up 1.4% to $4,074.02 per ounce, as of 0825 GMT, after hitting a record $4,078.05/oz, according to Reuters.

Global warming is crossing dangerous thresholds sooner than expected with the world’s coral reefs now in an almost irreversible die-off, marking what scientists on Monday described as the first “tipping point” in climate-driven ecosystem collapse, Reuters reported.

The warning in the Global Tipping Points report by 160 researchers worldwide, which synthesizes groundbreaking science to estimate points of no return, comes just weeks ahead of this year's COP30 climate summit being held at the edge of the Amazon rainforest in Brazil.

That same rainforest system is now at risk of collapsing once the average global temperature warms beyond just 1.5 degrees Celsius based on deforestation rates, the report said, revising down the estimated threshold for the Amazon, according to Reuters.

Hamas handed over all 20 surviving hostages to Israel on Monday, a major step towards ending two years of devastating war in Gaza as U.S. President Donald Trump, who helped broker the truce, proclaimed it was "a great day," Reuters reported.

The Israeli military said it had received the remaining 13 hostages after a first batch of seven arrived earlier on Monday, announcements that prompted cheering, hugging and weeping among thousands waiting at Hostage Square in Tel Aviv.

"This is a great day. This is a new beginning," Trump said after arriving to a hero's welcome in Israel where he was addressing the Knesset before flying on to Egypt for a summit aimed at building conditions for a lasting peace in Gaza.