Sensex ends wild session 349 pts up, Nifty at record closing high of 22,197

Stock market highlights on February 20, 2024: The Nifty50 index hit record high of 22,216 in intraday trade

7:55 AM

Gold at $3,000 and oil at $100 by 2025?

>> Gold prices could soar to $3,000 per ounce, and oil to $100 per barrel within the next 12 to 18 months subject to any one of three possible catalysts, according to Citi.

 

Gold
Gold, which is currently trading at $2,016, could surge by about 50%, if central banks sharply ramp up purchases of the yellow metal, a possible stagflation, or in case of a deep global recession.

Oil
The catalysts for oil to hit $100 per barrel include higher geopolitical risks, deeper OPEC+ cuts, and supply disruptions from key oil producing regions.

Source: CNBC

7:51 AM

ALERT :: Thailand's fourth-quarter GDP unexpectedly contracts

>> Thailand's economy unexpectedly contracted in the fourth quarter compared with the prior three months, bolstering bets for imminent interest rate cuts.

 

>> The country’s Q4r GDP shrank 0.6% quarter over quarter, against a Reuters poll expectation of a 0.1% expansion.

 

>> Year-on-year, Thailand’s economy grew 1.7%, missing Reuters poll estimates of a 2.5% growth.

Source: Agencies

7:47 AM

Asian markets :: All but Nikkei decline in early trade; Kospi down 1%

7:45 AM

Wall Street overnight :: US markets were closed for the Presidents' Day holiday

7:33 AM

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