Why is Gold moving East ?

Today’s Daily Byte

The session today was rather dull as investors were cautious ahead of the holiday and the upcoming data releases from the US. There wasn’t much movement, making it difficult to pinpoint specific sectors to discuss.

The Nifty barely moved today, ending at +0.02%. After yesterday's breakdown of the flag, today's session was insipid, with consolidation within a narrow range. This might indicate a change in trend.

Reading Time : 4 Minutes

Why is Gold moving East ?

Recent data reveals a significant increase in gold reserves among BRICS nations, particularly Russia, India, and China. These countries have been steadily accumulating gold over the years, especially since the 2008 financial crisis.

While the official reserves show substantial amounts, there is evidence that China and Russia may have even more gold than they have declared publicly. This rapid accumulation highlights a shift in how these nations are preparing for the future, with gold playing a critical role in their economic strategies.. . . . .

Reading Time : 3 Minutes

Median PE is in line

There has been some discussion recently about the Nifty 50’s price-to-earnings (PE) ratio, with some investors concerned that the market might be overvalued. However, data from reliable sources like ET Money show that the current PE ratio of 22.4 is actually in line with historical averages.

When we look at the median PE ratios over 20, 15, and 10 years, we see that the current figure is consistent with past trends. This indicates that the market is not in an unusual or extreme situation, contrary to what some might believe.. . . .

Reading Time : 3 Minutes