Gold Holds Decline
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Iran war impact: RBI likely sold $12bn gold reserves to shield foreign currency assets
Amid the ongoing US-Iran conflict, the Reserve Bank of India may have sold some of its gold holdings to protect foreign exchange reserves from the economic fallout of the Middle East situation, according to a report. India, the world's third-largest importer of crude oil, is facing mounting pressure on its foreign exchange resources as the conflict in the Middle East pushes up energy costs and weakens the domestic currency. To limit the impact of these external shocks, the government has...
RBI debunks report claiming it sold $12 billion worth of gold to protect forex reserves
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday dismissed report claiming that it may have sold gold worth about $12 billion to bolster foreign exchange reserves and support the rupee amid economic pressures linked to the ongoing US-Iran conflict. In a press release, RBI said, "The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI’s sale of gold. The RBI emphasises that these reports are not correct.
Gold falls to nearly 11-week low before recovering; check outlook for today
Gold is still not out of the woods as oil prices remain elevated with an upside risk. Gold price prediction today: Gold prices continue to be under pressure as crude oil prices remain high, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
More measures on gold coming? Finance ministry asks banks for information on gold loans
In a move that may possibly be a sign of upcoming measures on gold, the finance ministry has directed bullion-importing banks to furnish detailed information on gold metal loans and loans backed by gold from 2023 onwards. Despite a lower import volume of 721 tonnes compared with the previous year, India's gold import bill rose 24% to a record $71.9 billion in 2025-26. The dozen banks involved in gold imports either borrow gold from international lenders and extend it to jewellers through...
Tech sell-off deepens as oil prices rise on renewed Iran tensions
Global stock markets fell on Wednesday, extending a volatile week driven by concerns about rising inflation, potential U.S. interest rate hikes, and escalating tensions in the Middle East. Asian shares mostly retreated on Wednesday after a sell-off in technology stocks on Wall Street, while oil prices climbed following fresh US airstrikes against Iran. The US military launched attacks early on Wednesday after an Army helicopter crashed near the Strait of Hormuz, an incident President Donald...
Bitcoin drops back under $70,000, Strategy extends its slide
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'I never thought he'd grow up to be the player he ...
THERE WAS A time not long ago, when Jalen Brunson questioned all the same things about himself that his critics did. His size, his athleticism, his talent. Becky Hammon hadn't even been asked about whether a stocky, 6-foot-2 point guard could really be the best player on a New York Knicks team with championship aspirations, let alone one that's two wins away from the franchise's first title since 1973 as the NBA Finals continue tonight from Madison Square Garden at 8:30 p.m. ET on ABC.
European markets open mixed as AI stocks sell-off hits Asia, South Korea drops 5%
European stock markets had a mixed opening, as shares fell in Asia, with South Korea's benchmark dropping more than 5%. This comes as US markets saw sharp declines in several major artificial intelligence-related stocks on Thursday. As the rally in AI stocks fades, investors were cautious at the open on Friday, with European markets opening to mixed sentiment following steep falls in Asian markets.
Turkmenistan's 'heavenly' Akhal-Teke horses celebrated in annual beauty pageants
Turkmenistan's 'heavenly' Akhal-Teke horses celebrated in annual beauty pageants The Central Asian country of Turkmenistan is immensely proud of its horses. The ancient and endangered Akhal-Teke species has become a symbol of great national pride in a deeply isolated state where power is firmly concentrated, and are considered so beautiful that beauty pageants are held for them annually. The species and the culture surrounding them has even been listed on UNESCO's Intangible Cultural...