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Physically backed gold ETFs saw the largest weekly inflow since March 2022, with 52.4 metric tons worth $5 billion added last week. This inflow increased their total holdings by 1.6% to 3,326.3 tons. U.S.-listed funds were the main contributors, accounting for 48.7 tons of the inflow.

US stocks rebound after last week's selloff

Updated at : 2025-02-24 21:20:02

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US stocks: Wall Street s main indexes opened higher on Monday, rebounding from a sharp selloff in the previous week, while Apple edged up in choppy trading after the iPhone maker announced a $500 billion investment plan.

Nifty plunged below 22,600 amid broad-based selling, led by IT stocks, marking its fifth consecutive decline. Analysts warn of further correction, with support at 22,450 and resistance at 22,700, indicating short-term bearish sentiment in the market.

Gold prices surged to a record high on Monday, driven by safe-haven demand amid concerns over U.S. President Donald Trump s tariff plans, with additional support coming from inflows into the world s top gold-backed exchange-traded fund.

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Gold prices remain strong amid geopolitical tensions and economic uncertainties. Analysts cite the Russia-Ukraine crisis, weak US data, and volatility as key drivers. Despite possible short-term profit-taking, mid-to-long-term bullish momentum could push gold toward $3,000.

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Gold prices rose Rs 350 to trade near a record high at Rs 89,100 per 10 grams in the national capital on Monday amid firm global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 88,750 per 10 grams on Friday.

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State-owned IREDA has got shareholders approval for raising up to Rs 5,000 crore through issuance of equity shares to qualified institutional buyers. The proposal received the shareholders nod at the 22nd Extraordinary Genera Meeting on Monday.

Capital markets regulator Sebi on Monday slapped penalties totalling Rs 50 lakh on three foreign portfolio investors for exceeding the prescribed limits on short-term investments in debt securities.

The Department of Investment and Public Asset Management (DIPAM) on Monday invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions.

Kotak Institutional Equities reported that IndusInd Bank, JSW Steel, Apollo Hospitals, and Asian Paints have over 5% pledged promoter holdings. The total pledged holdings in BSE-500 companies stood at ₹1.63 trillion in December 2024, showing a slight decline from the previous quarter.

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