Market Bizzz

Anuj Gupta, Head Commodity & Currency, HDFC Securities recommends long-term investors to accumulate gold in a staggered manner rather than investing in one shot. A 3% to 5% correction in gold prices is a good opportunity. Equities, bullion, and cryptocurrencies are all performing well. Safe haven premiums, high liquidity, and the Fed nearing a pivot will keep gold shining.

Gold reached an all-time high of $2,185.19 after a report showed a rise in the U.S. unemployment rate and a moderation in wage gains despite job growth acceleration in February.

Nvidia’s market capitalization currently hovers around $2.38 trillion, lagging Apple by just about $230 billion and Microsoft by about $645 billion. Nvidia, which is up 95%, and Meta Platforms, which is up 46.6% so far this year, have also outperformed shares of other members of the so-called Magnificient 7, highlighting investors’ insatiable appetite for everything AI.

The leading cryptocurrency topped the $70,000 mark for the first time, boosted by investor demand for new U.S. spot exchange-traded crypto products and expectations for global interest rates to fall.

Prudential Management and Services, a promoter of Mahindra & Mahindra, offloaded shares resulted in a 3.99% tumble of Mahindra & Mahindra shares. Details of the buyers are unknown.

“I think we’re in the right place, which is, we’re waiting to become more confident that inflation is moving sustainably at 2%,” Powell told the Senate banking committee.