Budget 2018-19

  Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin. Bitcoin slipped more than 3% on Friday after Tesla boss Elon Musk fired off a tweet hinting at a breakup with the cryptocurrency, though it remains on course for its best weekly gain in about a month as it tries to recover from May’s crash. Bitcoin was last down about 3.6% at $37,809. Musk tweeted “#Bitcoin” and a heartbreak emoji above a meme appearing to show a couple discussing their breakup.  Bitcoin   is up 6.3% this week. Musk has been a major promoter of cryptocurrencies but has turned critical of bitcoin since suspending Tesla plans to take it in payment for cars owing to concerns about its energy use.

  We are bullish on gold and expect gold to test Rs 48,800- Rs 49,400 this week Gold prices started climbing steadily from the low of March 31, which came around $1680, but the momentum came when prices broke the psychological resistance of $1800 which saw short covering. After that, for a week, prices consolidated but are now moving up, breaking its immediate resistance of $1852 in COMEX. May 17’s gains ($29 rally) indicate that gold, at least for now, no longer remains range bound and has broken above its strong resistance level which occurred at approximately $1852, the 200-day moving average. Now Gold is trading at 4-week high on  COMEX . The threat of rising inflation, coupled with economic uncertainty following disappointing US employment and retail numbers is prompting investors to find safe-haven assets again. Gold tends to outperform when economic data is weakening and underperforms when economic prospects improve. Falling of cryptocurrency market also helped gold in ...

Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap The cryptocurrency market capitalisation hit an all-time peak of $2 trillion on Monday, according to data and market trackers CoinGecko and Blockfolio, as gains over the last several months attracted demand from both institutional and retail investors. By mid-afternoon, the crypto market cap was at $2.02 trillion. The surge was led by bitcoin, which hit its own milestone by holding at a $1 trillion market cap for one week. Bitcoin was last up 1.4 per cent at $59,045. Since hitting a lifetime peak of more than $61,000 in mid-March, bitcoin has traded in a relatively narrow range. Analysts said as long as bitcoin stays above $53,000, it will be able to maintain its $1 trillion market cap. Ethereum, the second largest  cryptocurrency  in terms of market cap, was up 1.3 per cent at $2,103. Its market cap was $244 billion on Monday. It hit a record high of $2,144.99 last Fri...

  The centre and state governments likely to reduce taxes to bring down high fuel prices The Reserve Bank of India (RBI) did not compromise on its balance sheet while providing liquidity to the bond market through asset purchases, governor Shaktikanta Das said on Thursday. The central bank, so far, this fiscal, has purchased over Rs 3 trillion of central and state government bonds from the secondary market to provide liquidity to the system. Unlike many central banks, though, the RBI’s asset purchases “did not dilute its balance sheet and hence, did not compromise on core principles of central banking.” The purchases were risk-free government bonds only, he said. “The focus was to foster congenial financing conditions without jeopardising financial stability,” Das said in his keynote address at the foundation day of the Bombay Chamber of Commerce. In this period, forward guidance gained prominence in the Reserve Bank’s communication strategy to realise co-operative outcomes, he sai...

  Activity in Bitcoin futures suggests traders don’t see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futuresActivity in Bitcoin futures suggests traders don’t see a sudden end to the crypto rally, with spreads continuing to widen between the active contract and March futures Bitcoin’s incredible rally shows little sign of abating yet after the token jumped past $51,000 for the first time. The largest cryptocurrency rose almost 6% Wednesday to about $51,431 after a fivefold surge in the past year, according to a composite of prices compiled by Bloomberg. The Bloomberg Galaxy Crypto Index reached a record. Bitcoin’s rally for some is emblematic of speculative froth in financial markets awash with stimulus. The crypto faithful counter that the digital asset is grabbing more mainstream attention, especially after Tesla Inc.’s recent $1.5 billion purchase. MicroStrategy Inc. said Tuesday it would sell $600 million of convertib...

  Elon Musk asked about the possibility of converting “large transactions” of Tesla’s balance sheet into bitcoin, according to a Twitter exchange between him and an advocate for the digital currency (Reuters) – Elon Musk on Sunday asked about the possibility of converting “large transactions” of Tesla Inc’s balance sheet into bitcoin, according to a Twitter exchange between Musk and a well-known advocate for the digital currency. Michael Saylor, chief executive officer of MicroStrategy Inc, in a tweet to Musk, suggested that the billionaire Tesla founder and head, make the move.”If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC,” Saylor wrote in his tweet. “Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.” “Are such large transactions even possible?” Musk replied to Saylor. “Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to sh...