Thu, Feb 8, 2024 2:25 PM
RBI MPC: Gold price hedging on IFSC to augur well for industry, traders
A Flip by Shubhangi Gupta
The stock market's bullish fever trickled to other assets, like gold, which saw its price rise 26% in 2024. But that gain doesn't hold a candle to Bitcoin, which soared 119% last year. Bitcoin is a better buy than gold in 2025 and beyond due to its absolute finitude, ease of storage and transport, divisibility, and potential to increase purchasing power, outpacing inflation and gold's performance.
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President Joe Biden is ending his term in office with a remarkably strong labor market. According to data released Friday by the Labor Department, employers added a surprising 256,000 jobs in December, the largest increase since March, and the unemployment rate dropped a tenth of a percentage point to 4.1%. Both numbers were better than analysts expected.
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U.S. inflation data could test stock investors' nerves, potentially raising treasury yields and adding to uncertainty around Trump's policy plans. The S&P 500 has fallen 1% this year, with markets watching the consumer price index due on January 15. Strong jobs growth and inflation concerns could affect the Federal Reserve's interest rate decisions for 2025.
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