Gold demand in India is likely to face challenges from a declining household savings rate and lower agricultural wages, according to the World Gold Council. Rising income is one of the biggest drivers of gold demand, suggesting that as India’s economy grows, sales of the precious metal should increase, the WGC said in a report.
Gold Price Today: Gold in the Indian futures market opened higher and remained moderately up in range-bound trading on October 12. US bond yields remained higher, above 1.61, on the back of expectations that bond tapering by the US is likely in November.
The global crypto market cap has grown around 0.36 percent to $2.34 trillion over the last day, according to coinmarketcap.com Bitcoin price has added nearly 2 percent in the last 24 hours. It’s trading above $56,000.
Bitcoin price suffered two fatal corrections on September 7 and September 20. However, the buyers stepped in, giving bears a run for their money, leading to consolidation. The buyers appear to have taken control of the ship and likely aim to break out from a bullish pattern.
Data from coinmarketcap.com shows that the global crypto market cap has risen nearly 2.71 per cent to $1.92 trillion over the previous day. Bitcoin too was trading higher at over $43,000 which is an over 2 per cent increase in the last 24 hours.
Bitcoin price has shown some gains on Thursday, trading at $50.267.12, up 6.20 per cent. In the past, China’s regulatory crackdown pushed the Bitcoin to touch an all -time low and also made the cryptocurrency market volatile, so much so that Bitcoin oscillated between highs and lows.
Bitcoin (BTC), the world’s most popular cryptocurrency, is trading slightly below $47,000, down 2.95 per cent at 12:07 pm. The virtual coin’s market capitalisation has fallen sharply to $882 billion.
Zomato Shares: Shares of food-delivery platform made its stock market debut on Friday by listing at ₹116 per share on the National Stock Exchange (NSE), nearly 53% premium as against the issue price of ₹79 per share.
Cryptocurrencies remained under pressure on Tuesday as the price of Bitcoin, the world’s most popular virtual coin, fell below $30,000 for the first time since June 22. Most virtual coins are struggling for more than a week to register gains due to higher outflow and bearish market momentum.
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