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A new Analysis by the prestigious Bank of America has revealed compelling insight. The bank has shared how gold has defeated the euro to emerge as the second-largest central bank reserve asset. With the current geopolitical changes, Gold is surging at a record pace, marching aggressively towards $3000. If the market favors the yellow metal, it may soon surpass leading assets and spark a massive price rally. Also Read: ChatGPT Predicts XRP’s Price Post Ripple ETF Launch Euro vs. Gold – Which Is The Best Investment? Source: iStock The analysts at Bank of America have shared how gold has surpassed the euro as the second-largest asset for banks worldwide to hoard. With the central bank gold buying spree that thrived this year, gold reserves in world banks have reached their peaks, with the yellow metal holding up a nearly 16% share as a leading central reserve asset. At the same time, the US dollar reserve share value has dropped significantly. The USD reserve share dropped 58% as Ea...

Led by Chairman Jerome Powell, the Federal Reserve has halted the rise of interest rates. Will it be enough to fuel the surging market through Christmas? Historically, a Santa rally happens in the weeks leading up to Christmas when a collective sense of goodwill bleeds into equity markets. This is typically a seasonal blip and nothing to write home about. But this year, we could see a far more significant rally as the United States Federal Reserve, the Securities and Exchange Commission and BlackRock line up to deliver a bonanza of holiday cheer. The Federal Open Market Committee (FOMC) finished its penultimate meeting of 2023 on Wednesday, and it decided to hold interest rates steady. As we know, U.S. inflation has been tamed from a high of 9.1% in June 2022 to its current level of 3.7% thanks to the Fed’s aggressive interest rate hiking cycle that brought the Federal Funds Rate to 5.25-5.5% — its highest level since 2001. However, while this campaign has been unquestionably successf...

The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes. The Indian Supreme Court on July 27 reprimanded the Union government for the lack of crypto regulations in the country, according to a report in a local media outlet.  The Supreme Court in its observation noted that it is “unfortunate” that the government has yet to release any clear guidelines around crypto currencies. The observation from the court came amid growing instances of criminal activities involving crypto currencies and directed the Union government to bring on record whether it plans to set up any dedicated federal agency to investigate such crypto criminal cases, the local daily reported. According to the report, Justices Surya Kant and Dipankar Datta said:  “You still don’t have any law, unfortunately. Do you have an agency at the national level to understand these cases and investigate them properl...