Author: Lucas

Chennai: After rebounding on Wednesday, gold and silver prices once again tumbled on Thursday. While gold lost Rs 3600 per 10 gm in the domestic spot market, silver made a bigger correction of Rs 30,000 per kg. Silver ETFs too declined around 12 per cent after the metal prices fell. However, UBS has predicted that gold prices can climb $6200 this year.In the international gold prices fell 4.65 per cent of $234 per ounce to $4789 and silver declined more by 18.6 per cent to $73.57 per ounce. In the Multi-Commodity Exchange, the correction was milder. Gold dropped by 3.75…

DailyForex.com was founded at a time when online forex information was fragmented, noisy, and often unreliable. Since 2008, the platform has focused on doing something different: explaining markets clearly and consistently as they evolve.Over the years, DailyForex has followed multiple market cycles, policy shifts, and global crises, building a body of analysis that connects currencies, commodities, and macroeconomic events. This long-term perspective allows readers to understand not just what markets are doing today, but how economic forces shape price behavior over time. Source link

TLDR Strategy stock dropped 5.7% to $125.66 Wednesday, tracking toward its lowest close since September 2024 Canaccord Genuity maintained a Buy rating while cutting its price target from $474 to $185, a 60% reduction The company’s 713,502 Bitcoin holdings are valued at $53.6 billion as Bitcoin trades around $73,000 Strategy’s premium to Bitcoin assets compressed to 1.06x from previous multiples exceeding 2x Analyst expects Bitcoin to rally 20% in 2026 and Strategy to reach a 1.25x valuation multiple Strategy stock extended its losing streak Wednesday with a 5.7% decline to $125.66. The drop followed Canaccord Genuity’s decision to cut its…

Nigeria’s domestic refining capacity could receive a fresh boost as the Nigeria National Petroleum Company (NNPC) Limited opens talks with a Chinese petrochemical firm over the revival of one of its state-owned refineries.The disclosure was made by NNPC’s Group Chief Executive Officer, Bayo Ojulari, during a fireside chat at the Nigeria International Energy Summit 2026 held in Abuja on Wednesday, February 4, 2026.According to Ojulari, the move is part of a broader strategy to bring in experienced refinery operators as equity partners to turn around NNPC’s four refineries after years of losses, weak utilisation, and operational underperformance.What they are sayingOjulari…

India’s largest state-owned refiner, Indian Oil Corporation (IOC), saw its net profit surge four times for the quarter ended December 31 compared to a year earlier as falling crude oil prices boosted refining margins.  Indian Oil reported on Thursday a standalone net profit of $1.34 billion (121.26 billion Indian ‌rupees) for the October-December quarter, which is the third quarter of its 2025/2026 fiscal year ending on March 31, 2026. That’s a fourfold jump compared to the net profit of $318 million (28.74 billion rupees) for the same quarter of the previous fiscal year, as crude oil prices slumped in the…

For Ray Dalio, gold hasn’t lost its shine.While many metal investors are likely still shaken by gold’s 12% plunge last Friday, the famed hedge fund founder said he wasn’t fazed by gold’s big drop. That’s because bullion is still a safe-haven asset, Dalio said, making the case for why gold should still be a part of investors’ portfolios at the World Governments Summit on Wednesday.Speaking at the conference in Dubai, the Bridgewater founder noted that gold was still held in large amounts by the world’s central banks. Bullion surpassed the euro as the second-largest reserve asset last year.”I think if…

The Money Saving Expert founder claimed that the process is ‘trial and error’, but some choices may work in your favourMartin Lewis claimed these three choices matter with car insurance(Image: ITV)Car insurance is expensive for young or new drivers because they are statistically more likely to be in accidents, leading insurers to classify them as high-risk. Anyone deemed high risk by an insurance company will need to pay accordingly until they build up proof of their road safety.Insurance is legally required for every driver before they can set out on the roads in the UK. Having a policy in place…

Nigerian National Petroleum Corporation NNPC Ltd has said it is focused on three critical elements that will ensure the country’s refineries are up and running, including financing, a competent EPC contractor, and world-class operational capacity. The Group Chief Executive Officer of the NNPC Ltd, Bayo Ojulari, revealed this at a fireside chat at the ongoing Nigeria International Energy Summit in Abuja. Ojulari revealed that the NNPC is currently in talks with partners with a proven track record of refining and petrochemical operations to build sustainable, self-financing, and profitable solutions for its refineries. The GCEO observed that historically, the focus on…

Gold has smashed past $5,000 per ounce — mere months after topping $4,000 — in a record-setting rally that analysts say reflects growing fears over high government debt.”The rise in precious metals prices is breathtaking and profoundly scary,” wrote Robin Brooks, a senior fellow at the Brookings Institution and former chief economist at the Institute of International Finance, in a Substack post on Sunday.Spot gold rushed above a record high around $5,093 per troy ounce late on Sunday before pulling back to $5,070 per ounce at 12:03 a.m. ET on Monday.The yellow metal’s record-setting blitz has little to do with…

The Bank of England opted to hold interest rates at 3.75 per cent today, but a cut in March is now thought likely.Four members of the Monetary Policy Committee opted for a cut to 3.5 per cent, but five members – including Bank of England Governor Andrew Bailey – voted to hold firm at 3.75 per cent.  In December, the bank cut interest rates from 4 per cent to 3.75 per cent, down from a high of 5.25 per cent the previous year.The next decision will take place on 19 March, with the majority of analysts now expecting a cut to 3.5…