Commodity Talk: 25% returns in CY24 so far, can gold hit Rs 1 lakh in 2025? Kaynat Chainwala answers

 21 Dec 2024 06:08 PM

"Several factors contributed to this surge in Investor interest, including the US Federal Reserve’s rate cuts, escalating geopolitical tensions, and unprecedented demand from central banks."

Bhima Jewellery Thiruvananthapuram enters Guinness World Records with ₹200 crore single-day revenue

 21 Dec 2024 04:57 PM

Bhima Jewellery celebrated its 100th anniversary with a record-breaking single-day turnover of ₹200 crores in Kerala’s Thiruvananthapuram, earning a Guinness World Record. The milestone saw sales of over 250 kg of gold and 400 carats of diamonds across three showrooms, driven purely by customer trust and loyalty. Bhima now plans ambitious expansions to take its legacy of purity and trust to a global audience.

Why gold remains vulnerable despite a sharp uptick on Friday

 21 Dec 2024 04:32 PM

The US Dollar Index surged to 108.541, its highest since November 10, 2022, driven by the Fed's hawkish stance and strong US GDP data. It eased to 107.82 on Friday, down 0.55%, but gained 0.82% for the week. Ten-year US yields hit a high of 4.59%, closing at 4.53%, up 3% weekly, while two-year yields peaked at 4.37% before settling at 4.31%, a 2% weekly gain.

Crypto Week at a Glance: The Crypto Market Cools off Before the New Year Rally

 21 Dec 2024 01:51 PM

The launch of Bitcoin ETFs has been a game-changer for the crypto market. A K33 Research report shows U.S.-listed Bitcoin ETFs, including leveraged products, have surpassed Gold ETFs in assets under management (AUM). Since their January debut, Bitcoin ETFs have reached $129.25 billion in AUM, overtaking Gold ETFs at $128.88 billion, which have been in the market for over two decades.

The Overton Window on crypto has Shifted

 21 Dec 2024 01:42 PM

Bitcoin's impressive performance has outshined all other asset classes, surging 115% this year to reach a market capitalization of $1.8 trillion. This positions it above silver and at roughly a tenth of gold's market value. Smaller nations like El Salvador and Bhutan, which strategically invested in Bitcoin, are now reaping significant profits from the recent crypto rally.

US stocks end sharply higher, dollar drops after inflation report

 21 Dec 2024 09:10 AM

Wall Street rallied and the dollar weakened as cooler-than-anticipated inflation data eased fears of runaway price growth. This positive news overshadowed concerns about a potential government shutdown and new tariff threats. Major U.S. stock indexes climbed over 1%, while gold prices surged and Treasury yields retreated. European stocks, however, experienced their worst week in months due to tariff concerns.

Gold climbs after soft US inflation data; still set for weekly loss

 21 Dec 2024 09:07 AM

Gold prices rallied on Friday, boosted by a weaker dollar and falling Treasury yields following U.S. economic data pointing to slowing inflation. However, the Federal Reserve's hawkish interest rate outlook limited gains, keeping gold on track for a weekly loss. Weaker personal consumption expenditure data also contributed to gold's rebound.

Gold demand shows mixed trends: Investment inflows strong, consumer jewelry demand weakens

 20 Dec 2024 08:32 PM

India's gold market witnessed mixed trends. Jewellery demand slumped post-Diwali due to price volatility, while investment in gold bars and coins saw steady growth. Gold ETFs attracted strong inflows, boosted by market uncertainty, and the RBI continued its gold buying spree, adding significantly to its reserves.

Asia gold price fluctuation dampens demand in India

 20 Dec 2024 01:28 PM

Gold demand dipped in India this week due to fluctuating prices, causing potential buyers to postpone purchases. Dealers offered discounts as jewelers adopted a cautious approach. Meanwhile, higher gold rates in China might offset the anticipated seasonal demand increase ahead of the Chinese New Year.

Year-ender 2024: Bitcoin and altcoins break records, leaving stocks and gold behind

 20 Dec 2024 10:43 AM

Bitcoin surged 140% in 2024, outperforming traditional assets. With growing institutional adoption, regulatory clarity, and favorable conditions, experts predict continued momentum, potentially reaching $200,000 by 2025.