Aggregator
Truth behind ugly family feud that led to supposed ‘spur of the moment’ black paint attack on bride
Cubs’ Michael Conforto receives World Series ring he won with Dodgers
NYPD cop opens fire on career criminal who shot man outside NYC store in ambush-style attack
Muted Demand During India's Second-Biggest Gold-Buying Festival, After Prices Surge
Gold demand during one of India's key buying festivals stayed muted on Sunday as record prices curbed jewellery purchases, offsetting a modest uptick in investment demand, according to Reuters.
Indians celebrated Akshaya Tritiya, the second-biggest gold-buying festival after Dhanteras, when purchasing precious metals is considered auspicious. Only this time near record gold prices - the precious metal closed just over $4800 - kept buyer enthusiasm rather subdued.
"The sharp rally in prices curbed jewellery demand. In volume terms, buying was lower as consumers held back, though in value terms spending was higher due to elevated prices," said Amit Modak, chief executive of PN Gadgil and Sons, a Pune-based jeweller.
Since consumers are, like everyone else, subject to the laws of supply and demand, it is natural that a higher price will lead to lower demand. Gold prices hit a record high of $5,594.82 per ounce on January 29 and are now trading just over $4,800.
Gold futures in India, the world's second-biggest gold consumer, closed at 154,609 rupees ($1,670) per 10 grams on Friday, nearly 63% higher than at the last Akshaya Tritiya festival. Except in a few southern Indian states, demand was lower than normal across the rest of the country, said Surendra Mehta, national secretary at the India Bullion and Jewellers Association. Meanwhile retail buyers have been stacking shifting toward gold coins, which are easier to liquidate, even as jewellers offered discounts on fees for crafting jewellery to attract buyers, said a Mumbai-based jeweller.
The latest decline in demand is an extension of recent trends: India's jewellery demand in 2025 fell 24% from a year earlier, partially offset by a 17% rise in investment , the highest since 2013, according World Gold Council data.
Gold-buying patterns in India are changing, with purchases no longer concentrated only during festivals as price-sensitive buyers make purchases throughout the year whenever prices dip, said a Mumbai-based bullion dealer with a private bank.
India issued an order on Friday listing banks authorized to import gold and silver, providing relief for banks that were forced to halt imports because the list's publication was delayed.
Tyler Durden Fri, 04/24/2026 - 22:30Dolphins pick shares hug with Army Black Hawk pilot wife in emotional NFL draft moment
Mets get reality check from Rockies as win streak comes to close
David Hasselhoff, 73, uses walker during rare outing with wife Hayley Roberts
David Hasselhoff, 73, uses walker during rare outing with wife Hayley Roberts
California police warn of app-driven ‘assassin’ game where students track and ‘eliminate’ each other
Giancarlo Stanton exits early in Yankees injury worry
Cubs’ Craig Counsell maintains ‘Shohei Ohtani Rule’ is ‘bad rule’
Google Deepens Anthropic Bet With Up To $40 Billion Investment
The AI funding frenzy continues, with Google planning to invest $10 billion in Anthropic at a $350 billion valuation, deepening its relationship with the San Francisco-based AI company best known for building Claude.
Bloomberg reports that Google's deal with Anthropic includes an initial $10 billion investment at a $350 billion valuation, with the potential for another $30 billion if certain performance milestones are achieved. That would bring the potential deal size to as much as $40 billion.
Part of the deal includes Google Cloud providing 5 gigawatts of computing capacity to the AI startup, founded in 2021 by former OpenAI employees, including Dario Amodei and Daniela Amodei, over the next five years. Additional capacity could follow.
Earlier this week, Amazon committed another $5 billion to Anthropic at the same valuation, with the option to invest an additional $20 billion over time.
Amazon's scramble for compute was detailed earlier in a deal with Meta:
Bloomberg pointed out that the Google-Anthropic deal is an "expansion of an agreement announced earlier this month between Anthropic, Google, and Broadcom."
For Google, the agreement with Anthropic strengthens demand for its cloud services and in-house TPU chips, which have become viable alternatives to Nvidia's AI chip stack.
Earlier this week, Google unveiled two new chips for the agentic era, including the TPU 8t, designed for training AI models, and the TPU 8i, designed for inference, or running AI services once they are developed and deployed. Again, this is all positioned to take on Nvidia.
There has been increased scrutiny around "circular" AI financing since we broke down the math and called it an epic "circle jerk" last fall.
Tyler Durden Fri, 04/24/2026 - 22:00