The Russian city was subjected to heavy howitzer and rocket artillery fire by Kiev’s forces Ukrainian troops have pummeled the city of Donetsk with heavy artillery throughout Saturday, according to a local group that monitors Ukrainian strikes. Over 100 projectiles were fired into residential and suburban areas of the city throughout the day, the report claims.

Almost half of the 4,800 banks in the US are nearly insolvent, as they have burned through their capital buffers, The Telegraph reported earlier this week, citing a group of banking experts. According to Professor Amit Seru, a banking expert at Stanford University, around half of US lenders are underwater.

Demand for the precious metal, which is considered a safe haven in times of financial or political turmoil, has been growing Gold prices have been hovering near record highs this week on renewed investor concerns of a deepening US financial crisis and the possibility of a recession this year.