Gold Prices Crash: Biggest Drop in 12 Years
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🗞️ RBI’s gold reserves cross 880 metric tonnes
India’s gold reserves surpassed 880 metric tonnes by September, marking a 6.2% increase YoY. The RBI’s gold strategy continues to strengthen India’s foreign exchange reserves and hedge against inflationary pressures.
🗞️ Infosys founders skip ₹18,000 crore buyback
Infosys founders have opted out of participating in the company’s ₹18,000 crore share buyback plan, which will likely lead to increased capital returns for other shareholders.
🗞️ Gold prices fall to 12-year low
Gold prices crashed by nearly 12% to $4,000 per ounce — the biggest drop in 12 years — amid a strong U.S. dollar and rising global bond yields. Analysts predict either a further dip or a bounce-back in the coming months.
🗞️ FM Sitharaman highlights record Diwali sales
FM Sitharaman highlighted a surge in Diwali sales, which hit an all-time high of ₹6.05 lakh crore, signaling a strong recovery in consumer sentiment and retail demand across India.
🗞️ Amazon to replace 500,000 jobs with robots by 2033
Amazon plans to replace over 500,000 jobs with robots by 2033 as part of its automation and AI strategy to improve efficiency and reduce operational costs.
🗞️ Govt to notify all rules under new tax law by December
The government will notify all rules under the new income tax law by December 31, aiming to simplify tax filing procedures and improve compliance.
🗞️ Berar Finance focuses on two-wheeler loans in rural India
Berar Finance is expanding its lending focus to two-wheeler finance and MSME loans, aiming to increase financial access for rural and underserved populations in India.
🗞️ Tesla recalls nearly 13,000 vehicles
Tesla recalled nearly 13,000 vehicles in the U.S. due to a potential battery connection issue that could cause fires. Tesla has assured owners that fixes will be carried out free of charge.