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Economic Times
15 minutes ago
- Economic Times
Silver jumps Rs 5,000 to hit fresh peak of Rs 1.15 lakh/kg
Silver prices skyrocketed Rs 5,000 to hit a fresh peak of Rs 1,15,000 per kg in the national capital on Monday as investors rushed to safe-haven assets following weakness in the US Dollar amid uncertainties over US tariff threats. ADVERTISEMENT According to the All India Sarafa Association, the white metal rallied by Rs 4,500 to hit a lifetime high of Rs 1,10,000 per kilogram (inclusive of all taxes) on Saturday. As per the Association, gold of 99.9 per cent and 99.5 per cent purity appreciated by Rs 200 each to Rs 99,570 and Rs 99,000 per 10 grams (inclusive of all taxes), respectively. "Silver prices are surging, reaching a new record high in the domestic market and hitting the highest level in almost 14 years in the international market. This rally is driven by a change in investor interest toward alternatives to gold," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said. Additionally, silver futures rallied by Rs 2,135 or 1.88 per cent to hit a record high of Rs 1,15,136 per kilogram on the commodities exchange. Meanwhile, the most traded gold contracts for August delivery climbed by Rs 518 or 0.53 per cent to Rs 98,336 per 10 grams on the Multi Commodity Exchange (MCX). ADVERTISEMENT "Gold prices saw a positive trend as renewed global tariff tensions kept the outlook firm. With the US imposing additional tariffs on trade partners, including the EU, Canada, and Mexico and broad weakness in the dollar index making bullion a preferred safe-haven," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said. In the international markets, spot silver rose 1.71 per cent to USD 39.02 per ounce. ADVERTISEMENT Spot gold went up marginally to USD 3,371.14 per ounce in the global markets. "Gold has again resumed upside movement with prices poised to again move towards their all-time high, supported by rising tariff related uncertainty, possibility of escalation in the Russia-Ukraine war, and rising demand from ETF investors and central banks for diversification," Pranav Mer, Vice President, EBG - Commodity & Currency Research at JM Financial Services Ltd, said. During the week, market participants will closely monitor the inflation data from major economies, including the US, UK/ Euro zone, retail sales and consumer sentiments from the US, which in turn will provide more direction for the bullion prices, Mer added. (You can now subscribe to our ETMarkets WhatsApp channel)
News18
23 minutes ago
- News18
ChatGPT And Grok Doubled This Redditor's Money In 10 Days. This Is The Prompt He Gave
Last Updated: Talking about his "YOLO AI adventure", a Redditor said that he kicked off the experiment two weeks ago, with the goal of testing if AI could outperform his own trading instincts What can't AI do? That question just got harder to answer. A Reddit user's bold experiment has lit up the internet after he claimed to double his money in just ten days, purely by taking investment advice from AI models like ChatGPT and Grok. The platform? Robinhood. The starting amount? $400 (roughly Rs 34,000). The end result? Nearly Rs 70,000. The method? Artificial Intelligence. And yes, this wasn't a lucky guess or a one-time trade. According to the user, every single investment, eighteen in total, turned out to be profitable. The user described his 'YOLO AI adventure" in a viral post on Reddit, saying that he kicked off the experiment two weeks ago, with the goal of testing if AI could outperform his own trading instincts. His results shocked even him. On day one, the value of his investments shot up. 'Day 1, boom, doubled my money faster than Kris Jenner can sign a new reality deal," he joked in the post. As confidence in the AI's decisions grew, he split the portfolio into two and set up a head-to-head match: ChatGPT vs Grok. He fed both AIs an enormous pile of data—financial statements, technical indicators, options chain analytics, global macro news, satellite imagery, even Google Trends and FOMC live updates. Then, he asked them to cut through the clutter and 'spit out trades that'll turn my beer and BBQ budget into Kardashian-level cash". The results were near-perfect. Across 18 trades, 17 were completed during the 10-day stretch, and both models boasted a 100% success rate. ChatGPT nailed 13 calls. Grok handled five. Not a single trade lost money. The user manually placed all trades, but the stock picks and strategy came straight from AI. This wasn't just blind betting. The user had a set of strict conditions for both models. Each AI could only suggest five trades at a time. Each trade had to show potential gains of at least 65%, with controlled downside risk. Every recommendation also had to be explained in plain English, under 30 words—no jargon, no fluff. Diversification was mandatory; no loading up on a single sector. It wasn't a one-off stunt either. The user now plans to run this experiment for six months, turning the heat up with every round. 'It's time to crack another cold one," he wrote, 'it's gonna be a wild ride". The Reddit post triggered an avalanche of reactions online. Some praised it as proof that AI is the future of personal finance. Others warned against drawing conclusions from an isolated, short-term win. Supporters say tools like ChatGPT and Grok are simply better at digesting massive, multi-source data than the average retail investor. Critics argue that 10 days is barely a data point, and AI's success in a calm market doesn't guarantee it'll hold up in chaos. Still, one thing is obvious: AI is no longer just answering trivia or writing emails. It's making moves on Wall Street, or at least advising people who are. This isn't about replacing human traders overnight. But it does raise a provocative question: if AI can digest company fundamentals, track market sentiment, analyse technicals, and deliver trades with low risk and high reward… what exactly is left for humans to do? Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
India.com
24 minutes ago
- India.com
Rs 30000000000: Indian aviation industry may lose huge amount of money due to..., no connection with recent Air India crash
New Delhi: Rating agency ICRA has estimated in its latest report that the total loss of the aviation industry during the current financial year 2025-26 could be between Rs 2 and 3,000 crores. This is in line with the estimate of loss in the last financial year 2024-25. What is the reason behind the losses? The report said that companies may incur this loss due to the continuous increase in aviation fuel prices. During the financial year 2023-24, the companies had a net profit of Rs 1,600 crore. Also, the domestic air passenger traffic growth rate has declined to 7.6 percent. According to the report, the industry saw stable pricing power in FY 2025, stable yields and domestic air passenger traffic growth rate declined to 7.6 percent. Domestic air passenger traffic in June grew 5.1 per cent year-on-year to over 1.38 crore, but declined marginally compared to May, it said in a report released on Friday, July 11. Domestic air passenger traffic estimated at 138.7 lakh in June 2025 Maintaining a stable outlook for the industry, ICRA said supply chain disruptions, including Pratt & Whitney engine problems, continue to impact capacity and costs. Domestic air passenger traffic was estimated at 138.7 lakh in June 2025, up 5.1 per cent from 132.1 lakh in June 2024. However, it saw a marginal decline of 1.3 per cent on a sequential basis. Capacity deployment of airlines in June 2025 was 4.9 per cent higher than June 2024; however, it was 2.3 per cent lower than May 2025. How did India-Pakistan conflict affect Indian aviation industry? The operating costs of the Indian aviation industry are likely to have increased over the past few months (due to flight cancellations and other operational challenges following the India-Pakistan conflict). Rising crude oil prices (due to the Israel-Iran conflict), closure of airspace over Iran and Pakistan (for Indian carriers), likely increase in insurance premiums (after the recent plane crash) and possible hesitancy to travel – potential downside risks need to be monitored closely.
