Michael Burry Shorts Tesla at $416 as AI and Semiconductor Bearish Bets Expand 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Should I take zinc or eat oysters to ward off colds, boost my immune system or improve fertility? 
In a rebuke to Trump, the Supreme Court rules that birthright citizenship is the law of the land 
The government is ‘doubling down’ on its social media ban. But bigger penalties for platforms aren’t enough 
Elon Musk is remaking the world, like Henry Ford before him – but more dangerously 
Buy the Dip: Gold Holds Strong at $3980, Targets $4150 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Gold Surges Above Key EMAs, Bulls Eye Resistance Amidst Bullish Momentum 
Open-Source AI Models Gain Ground as Enterprises Seek Lower-Cost Alternatives, Citi Says 
According to latest estimate, Indian consumers hold directly or indirectly 22,000 tons of Gold, almost three times the total holding of US Federal Reserve. Current value of that gold is around $800 billion or 39% of GDP.
That vast amount of capital sits idle either at bank or family lockers, producing nothing and contributing nothing.
To increase movability of the capital, Indian newly elected government has launched a new scheme to monetize this gold, naming it GMS (Gold Monetization Scheme).
Though skeptics suggest that the scheme could be a grand failure due to sentimental value of the Gold but considering the amount, even 25% mobility should be considered as success.
Key Features of the scheme -
- Gold can be deposited in any form, bullion or Jewelry. Minimum investment is 30 grams.
- The depositors under the scheme can choose three tenures, short term (1-3 yrs. with roll out multiple of 1 yrs. ), medium term ( 5-7 yrs.) and long term (12-15 yrs.).
- Short term interest rates would be up to discretion of banks and would be denominated in volumes (grams of gold). For short term customers can state their preferred withdrawal to be in gold or Rupee.
- Government will decide on the longer term rates and would be denominated in Rupee terms. Longer term deposits redemption would be in cash.
- Interest and capital gains are tax exempt.
