Tag: Gold investment

Gold prices rise to ₹72,120 per 10 grams: How long will this rally continue?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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In the wake of escalating geopolitical tensions, gold prices have surged both domestically and globally. On Thursday, April 11, the price of 10 grams of pure gold (24-carat) hovered around ₹72,120 in the domestic market.

Internationally, spot gold climbed to $2,345.56 per ounce, marking a 0.6% increase, with US gold futures also rising by 0.6% to $2,362.80.

The rally in gold prices has been attributed to several factors, foremost among them being higher-than-expected consumer prices persisting for the third consecutive month, thus challenging the Federal Reserve’s tolerance for inflation.

Data revealed that US inflation in March exceeded forecasts, effectively diminishing the likelihood of a rate cut in June, according to news agency Reuters.

This unexpected inflation surge has led market strategists to anticipate a longer period of tight monetary policy, consequently supporting the appeal of gold as a hedge against inflation and geopolitical uncertainties.

Central bank purchases, safe-haven inflows amidst ongoing geopolitical risks, and momentum-following fund demand have collectively fueled gold’s 14% gain so far this year.

Moreover, recent strong US economic indicators, including a robust jobs report that surpassed expectations, have raised doubts about the feasibility of rate cuts in the near future.

Higher interest rates typically reduce the attractiveness of holding non-yielding assets like gold, but the prevailing geopolitical tensions have counteracted this effect, further propelling gold prices upwards, a Reuters report said.

What lies ahead?

Looking ahead, experts foresee a continuation of the upward momentum in gold prices.

Nirav Bhansali, a member of the Gem & Jewellery Export Promotion Council (GJEPC), predicts that gold prices may surge to ₹75,000 per 10 grams by the end of the year.

Economic factors such as inflation and interest rates are expected to significantly influence future gold prices.

What should investors do?

Waiting for a price drop may not be advisable, as there is no guarantee of a decrease, and prices may continue to rise beyond reach.

Given gold’s immediate protection against inflation and its role in diversifying investment portfolios, investors should assess their portfolios and consider allocating a portion, typically 10% or less, to gold.

This strategy can help hedge against market uncertainties and maintain portfolio diversification amidst volatile geopolitical and economic conditions.

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Gold prices soar to new heights on Gudi Padwa: Should investors buy, sell or hold?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gold prices extended their rally on the day of Gudi Padwa – a spring festival marking the start of the lunisolar new year for Hindus. Domestic gold futures scaled a new record high, surpassing the ₹71,100 mark per 10 grams.

The trigger for this surge came as treasury 10-year yields climbed to the highest since November. This was buoyed by positive sentiments regarding China’s central bank increasing its gold reserves in March.

The Multi Commodity Exchange (MCX) witnessed gold futures contract for June 2024 expiry opening at ₹71,026 per 10 grams and reaching an intraday high of ₹71,125.

Globally, gold prices continued their upward trajectory, with spot gold reaching $2,345.09 per ounce.

Analysts have noted that gold has emerged as the ‘asset of choice’ in financial markets, driven by central bank buying and speculative flows. The minutes of the Federal Reserve’s March policy meeting, along with the impending release of US Consumer Price Index (CPI) data, are anticipated to provide fresh signals for investors, according to news agency Reuters.

The Fed’s decision to hold interest rates steady in March, coupled with reduced expectations for the number of rate cuts this year, has influenced market sentiment.

Despite the risk posed by potential inflationary pressure from the CPI data, gold has demonstrated resilience against rising bond yields, which could bode well for its medium-term outlook.

Looking ahead, industry experts offer insights into what lies next for gold prices and whether now is the opportune moment for investors.

Chintan Mehta, CEO of Abans Holdings on Commodity, highlighted various factors contributing to the enduring strength of gold, including geopolitical tensions in the Middle East, persistent inflationary pressure, and the dovish stance of the Federal Reserve.

Mehta emphasised the importance of upcoming CPI data and the Fed’s meeting minutes in shaping future interest rate trajectories.

Despite the current high levels of participation in gold, Mehta suggests that the precious metal remains a favorable investment opportunity, with potential for consolidation at current prices and opportunities for accumulation at lower levels.

“Currently, we are observing a rally up to ₹72,200 per 10 grams. On the downside, gold may experience a correction down to ₹65,400 per 10 grams levels,” Mehta said.

Anuj Gupta of HDFC Securities added another dimension to the gold price rally, attributing it to the occasion of Gudi Padwa.

Gupta noted that this festival serves as a domestic trigger for increased gold purchases, particularly in regions like Maharashtra and northern India.

The cultural significance of Gudi Padwa and its association with gold buying traditions contribute to the expected surge in retail bullion market demand.

In conclusion, while gold prices continue their upward trajectory, investors should carefully evaluate their investment strategies considering the broader economic landscape and upcoming market indicators.

Despite short-term fluctuations, gold’s status as a safe-haven asset and its appeal in times of uncertainty suggest that it remains a compelling option for investors seeking stability in their portfolios.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Gold prices hit ₹71,000 per 10 grams for the first time: Should you wait for rates to drop before investing?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gold prices have extended their record rally on Monday, April 8, reaching highs in both global and domestic markets. Spot gold soared to $2,343.89 per ounce earlier in the session, while US gold futures climbed to $2,361.09. Back home, the scenario was no different as gold prices in India skyrocketed to ₹71,000 per 10 grams for the first time.

On multi-commodity exchange (MCX), gold contracts surged to ₹71,080 per 10 grams, marking a jump of ₹440 or 0.62%.

The surge in gold prices can be attributed to several factors, primarily the decline in the dollar index, which hovered around the 104.25 mark.

Additionally, speculative buying and ongoing tensions in the Middle East have supported gold prices, according to a Reuters report.

Financial market analysts have noted a momentum-chasing trend in futures pricing, with some expressing concerns about excessive optimism regarding gold’s outlook at its current level.

Despite robust US job growth, expectations of Federal Reserve interest rate cuts have been dampened, further supporting gold prices as lower interest rates reduce the opportunity cost of holding bullion.

Looking ahead, experts anticipate continued upward momentum for gold prices.

Rahul Kalantri, VP Commodities at Mehta Equities Ltd, predicts that geopolitical uncertainties and hopes for rate cuts will sustain the upward trajectory of gold rates in the coming sessions.

“Gold could potentially test $2,355 per ounce. Gold finds support levels at $2,298-$2,278 per ounce, with resistance at $2,331-$2,348 per ounce. In India, gold is supported at ₹70,380 per 10 grams and ₹70,120 per 10 grams, with resistance at ₹70,880 per 10 grams and ₹71,120 per 10 grams,” he said.

According to Nirav Bhansali, a member of the Gem & Jewellery Export Promotion Council (GJEPC), gold prices may reach ₹75,000 per 10 grams by the year’s end.

So, what should investors do?

Given the current market dynamics, investors should consider several factors before making investment decisions.

Economic factors such as inflation and interest rates could significantly affect gold prices in the future. Therefore, waiting for the price of gold to drop may not be advisable, as there is no guarantee of a decrease, and the price may rise further out of reach, experts say.

Furthermore, gold provides immediate protection against inflation and helps diversify investment portfolios, offering a buffer for when other assets underperform.

Therefore, investors should assess their portfolios and consider allocating a portion (typically 10% or less) to gold to hedge against market uncertainties and maintain portfolio diversification.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Premature redemption price for SGB 2016-17 Series II set at ₹6,601: Know ways to withdraw gold bonds

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) has announced the premature redemption price for sovereign gold bond (SGB) Series II of 2016-17 due on March 30, 2024. The premature redemption rate for the same is ₹6,601 per unit of SGB.

The redemption price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association (IBJA).

Accordingly, the redemption price for premature redemption of SGB Series II of 2016-17 is based on the simple average of the closing gold price for the week of March 18-22, 2024.

SGB and its early encashment

Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Though the tenure of the bond is eight years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates.

Ways to prematurely withdraw SGBs

In case of premature redemption, investors can approach the concerned bank/Stock Holding Corporation of India Limited (SHCIL) offices/post office/agent thirty days before the coupon payment date.

Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to the Reserve Bank of India (RBI).

The proceeds are credited to the customer’s bank account provided at the time of applying for the bond.

Maturity

On maturity, these bonds are redeemed in rupees and the redemption price is based on the simple average of the closing price of gold of 999 purity of the previous three business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

The investors are advised one month before maturity regarding the ensuing maturity of the bond.

On the date of maturity, the maturity proceeds are credited to the bank account as per the details on record.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sovereign Gold Bonds 2016 Series II to give 126% profit at maturity: Check final redemption date

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The second batch of Sovereign Gold Bonds (SGB) 2016 will approach maturity on March 28, 2024 (March 29, 2024, being a holiday). The Reserve Bank of India (RBI) recently announced the final redemption price at ₹6,601 per unit, reflecting the simple average closing price of gold for the week of March 18-March 22, 2024, as per the SGB scheme guidelines.

The Sovereign Gold Bonds 2016-II, with an initial issue price of ₹2,916 per gram when launched in March 2016, will yield around 126% gain for investors upon maturity.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here’s why you should invest in gold mutual funds now

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gold mutual funds have recorded returns of over 10% in the past year alone. This surge in performance coincides with a surge in gold prices, which recently breached the $2,200 per ounce mark globally. Back home, the yellow metal hit a fresh lifetime high of ₹66,943 per 10 grams.

The trigger behind this rise lies in a confluence of global factors, including signals from the Federal Reserve indicating potential interest rate cuts amidst rising inflation.

Geopolitical tensions and macroeconomic uncertainties have further contributed to the allure of gold as a safe haven asset.

In such a landscape, gold emerges as a decent investment avenue.

Alekh Yadav, Head of Investment Products at Sanctum Wealth, a wealth management firm, stressed on strategic allocation to gold within investment portfolios.

While talking to CNBC-TV18.com, he mentioned the negative correlation between gold prices and equity markets.

“This makes gold an effective hedge against volatility and market downturns,” he said.

He said the inclusion of gold can lower overall portfolio volatility without significantly compromising expected returns.

But why gold mutual funds?

Here are some factors that make gold mutual funds attractive:

Diversification

Gold mutual funds typically invest in a diversified portfolio of gold-related assets such as gold bullion, gold mining stocks, and gold ETFs.

This diversification helps spread risk across multiple assets within the fund, reducing the impact of underperformance of any single asset on overall returns.

In contrast, direct investment in physical gold or gold bars lacks this diversification.

Professional management

Gold mutual funds are managed by professional fund managers who have expertise in analysing gold markets and making investment decisions.

These managers actively monitor market conditions, adjust portfolio holdings, and seek to optimise returns for investors.

Liquidity

Gold mutual funds offer high liquidity, allowing investors to buy and sell fund units on any business day at the prevailing net asset value (NAV).

This liquidity makes it easy for investors to enter and exit their positions without incurring significant transaction costs associated with physical gold ownership.

Cost efficiency

Gold mutual funds typically have lower investment minimums and expenses compared to other gold investments such as purchasing physical gold or investing in gold mining stocks individually.

Additionally, the operational costs associated with storing and insuring physical gold are eliminated in gold mutual funds.

Tax efficiency

Mehak Srivastava, Head of Marketing at SahiBandhu, a gold loan platform, suggested investors opt for mutual funds due to their potential for capital gains.

Capital gains realised from selling fund units may be subject to favourable long-term capital gains tax rates, depending on the holding period.

If the price of gold rises, the value of the assets held by the mutual fund also increases. This leads to capital gains for investors when they sell their mutual fund units at a higher price than they paid for them.

Additionally, dividends or capital gains distributions received from gold mutual funds may be taxed at lower rates compared to direct investment in gold mining stocks.

A look at returns of gold mutual funds

(Source: Scripbox; CAGR stands for compound annual growth rate)

A word of caution

Nitin Shahi, Executive Director at Findoc, a financial service provider, urged caution amid the enthusiasm surrounding gold mutual funds.

While gold mutual funds present an enticing avenue for investment, Shahi emphasised the need for diversified investing tailored to individual risk tolerance and financial objectives.

This means that investors should not solely focus on gold mutual funds but instead consider building a diversified investment portfolio that includes a mix of different asset classes, such as stocks, bonds, real estate, and alternative investments, in addition to gold.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Gold prices steady after hitting record high: Should you invest in yellow metal now?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Gold prices edged lower on Wednesday (March 6) but held above the $2,100 an ounce level, after rising bets for a June US interest rate cut propelled bullion to a record peak in the previous session, ahead of Federal Reserve Chair Jerome Powell’s testimony, according to a Reuters report.

Spot gold edged down 0.2% at $2,124.46 per ounce. US gold futures fell 0.4% to $2,132.90.

On the domestic front, gold was trading at ₹64,750 per 10 grams.

This decline follows the recent achievement of a record peak of $2,141.79 per ounce for gold in the global market. The surge was driven by a confluence of factors, including expectations of US rate cuts, geopolitical tensions, and concerns about a potential pullback in equity markets.

The upward trend in the domestic market mirrors the global pattern.

Rahul Kalantri, VP of Commodities at Mehta Equities, attributes the record-high gold prices to the release of supportive US economic data on Tuesday.

Additionally, profit-taking in US equity markets and stability in the dollar index and US 10-year bond yields played a role.

Market participants, however, are cautious as gold reaches these unprecedented levels.

The upcoming speech by the Fed Chairman regarding inflation and potential interest rate adjustments is expected to be a crucial factor influencing the direction of precious metal markets.

Looking ahead to Wednesday’s session, gold prices are anticipated to continue experiencing volatility.

“Gold is expected to find support in the $2,098-2,082 per ounce range, with resistance between $2,124 per ounce and $2,140 per ounce. In terms of Indian rupees, gold has support at ₹64,580-64,350 per 10 grams and resistance at ₹64,980-65,240 per 10 grams,” Kalantri said.

Colin Shah, MD of Kama Jewelry, reflects on the performance of gold during February 2024, emphasising the sustained momentum witnessed during the month.

The surge in the last week of February, influenced by global factors such as US Fed rates, has set the stage for further escalation.

With gold prices hovering around ₹62,000 per 10 grams, Shah predicts a gradual progression, possibly crossing the ₹70,000 per 10 grams mark by year-end.

The anticipation of US rate cuts, aiming for a 4% bracket by year-end, fuels Shah’s optimism.

He foresees gold prices remaining bullish throughout the year, driven by global economic events, consumption demands, and a strong domestic market where gold is considered a reliable investment asset class.

As per Manav Modi, Analyst, Commodity and Currency at MOFSL, US labour market data scheduled this week could further increase gains for bullions.

As investors navigate these uncertain times, the performance of gold, coupled with expert opinions, suggests that the precious metal remains a valuable hedge against economic uncertainties and market fluctuations.

Gold acts as a hedge or protection against equity market volatility. Experts generally suggest individuals have 5-10% of their portfolio in gold.

However, it is essential for investors to carefully consider their risk tolerance and market dynamics before making investment decisions in this volatile environment.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Final series of Sovereign Gold Bond 2023-24 open now: A look at returns and ways to invest

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investors keen on diversifying their portfolios with gold-backed securities must be flocking to subscribe to the fourth tranche (IVth) of the Sovereign Gold Bond (SGB) scheme for the financial year 2023-24. The subscription window is open until February 16, offering last chance for investors to participate in this financial year’s SGB offering.

The issue price for the bonds has been fixed at ₹6,263 per gram of gold.

However, online subscribers get a discounted rate of ₹50 per gram, making their investment cost ₹6,213 per gram.

The issuance of these bonds is scheduled for February 21.

Price history and returns

The price history of SGB for FY 2023-24 is as follows:

(Source: Cleartax)

Comparatively, the previous financial year (2022-23) showcased the following price trends:

(Source: Cleartax)

According to Paytm Money data as of December 18, 2023, returns for the some of the SGB tranches are as follows:

It’s crucial to note that SGBs have an eight-year maturity period. It provides investors with a secure and sovereign-backed option.

SGBs distinguish themselves from physical gold as they offer potential price appreciation and generate income through interest payouts.

Investors receive a 2.5% interest rate, making SGBs a compelling choice for those seeking a combination of steady returns and exposure to the gold market.

Experts recommend SGBs for gold-oriented investments or individuals interested in a Systematic Investment Plan (SIP).

The bonds cater to both larger investors, allowing substantial investments up to 4 kgs, and retail investors, who can start with as little as 1 gram.

Nish Bhatt, Founder & CEO of Millwood Kane International, emphasised the security and historical performance of SGBs.

He said, “If we look at 2023 alone, despite geopolitical tension, a weaker dollar, and being volatile, gold is currently traded close to its lifetime high price of ₹62,240 offering approximately 11.95% return in 2024 already. If we look at the long-term, its price has more than doubled in the last 10 years. The SGB scheme is an ideal investment opportunity for investors willing to hold on to their investments to seek capital appreciation in the long run.”

Colin Shah, MD of Kama Jewelry, anticipated significant interest in the current tranche, citing the attractive benefits and returns.

He noted that as the Indian economy navigates challenges, SGBs provide a safe investment option against uncertainties.

Ways to buy SGBs

Investors can buy gold bonds from commercial banks. They can visit a bank branch or designated post office physically and fill out the form along with units and submit it along with a Cheque or DD to make payment.

Investors can also buy gold bonds from Stock Holding Corporation of India Limited (SHCIL) and recognised stock exchanges.

Online investors can even buy via net banking or through mobile application of the bank.

Additionally, SGBs are available via RBI’s retail direct website

Moreover, investors can explore primary issuances in the secondary market beyond the subscription window.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

You can redeem Sovereign Gold Bond 2018-19 Series VI at 88% profit

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Reserve Bank of India (RBI) has announced the redemption price for sovereign gold bond (SGB) Series VI of 2018-19 due on February 12, 2024. The premature redemption rate for the same is ₹6,263 per unit, which is a profit of ₹2,937 per unit and nearly 88% above the issue price. The issue price for the same was ₹3,326 per unit.

Redemption price calculation

The redemption price of SGB is based on the simple average of the closing gold price of 999 purity of the previous three business days from the date of redemption as published by the India Bullion and Jewellers Association (IBJA).

Accordingly, the redemption price for premature redemption of SGB Series VI of 2018-19 is based on the simple average of closing gold price for February 7, 2024, February 8, 2024 and February 9, 2024.

SGB and its early encashment

Sovereign gold bonds or SGBs are issued by the government, for which investors get a holding certificate. It comprises government securities denominated in gold wherein investors are required to pay the issue price in cash.

Though the tenor of the bond is 8 years, early encashment/redemption of the bond is allowed after the fifth year from the date of issue on coupon payment dates.

Ways to prematurely withdraw SGBs

In case of premature redemption, investors can approach the concerned bank/SHCIL offices/post office/agent thirty days before the coupon payment date.

Request for premature redemption can only be entertained if the investor approaches the concerned bank/post office at least one day before the coupon payment date, according to the Reserve Bank of India (RBI).

The proceeds are credited to the customer’s bank account provided at the time of applying for the bond.

Maturity

On maturity, these bonds are redeemed in rupees and the redemption price is based on the simple average of the closing price of gold of 999 purity of the previous three business days from the date of repayment, published by the India Bullion and Jewelers Association Limited.

The investors are advised one month before maturity regarding the ensuing maturity of the bond.

On the date of maturity, the maturity proceeds are credited to the bank account as per the details on record. In case there are changes in any details, such as account numbers, or email IDs, then the investor must inform the bank/SHCIL/PO promptly.

ALSO READ | Sovereign Gold Bond 2023-24 Series IV opens today: Should you invest?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sovereign Gold Bond 2023-24 Series IV opens today: Should you invest?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The fourth tranche (IVth) of the Sovereign Gold Bond (SGB) scheme for 2023-24 has opened for subscription on Monday, February 12, and will be available for investment until February 16. This marks the final opportunity for investors to participate in this financial year’s SGB offering.

The issue price for the bonds has been fixed at ₹6,263 per gram of gold, with online subscribers getting a discounted rate of ₹50 per gram.

This means investors opting for digital modes of payment will have to pay ₹6,213 per gram.

The issuance of these bonds is scheduled for February 21, signifying the date when the bonds will be allotted to the subscribers.

Understanding Sovereign Gold Bonds (SGBs)

SGBs are government securities linked to gold grams, providing an alternative to physically holding the precious metal. Investors purchase these bonds at the issue price in cash, and upon maturity, they are redeemed in cash.

Available through banks, designated post offices, and recognised stock exchanges, SGBs offer a means of investing in gold without the need for physical possession.

Advantages of SGB investment

Secure investment with sovereign guarantees

SGBs offer a secure investment option backed by sovereign guarantees, mitigating credit risks. The eight-year term provides stability for those willing to commit until maturity.

Income generation

Unlike physical gold, SGBs generate income through interest payouts.

Investors receive 2.5% interest along with the price appreciation, providing a combination of income and growth.

Flexible investment

SGBs are suitable for both large and retail investors.

Larger investors can commit up to 4 kgs, while retail investors can start with as little as 1 gram.

Tax benefits

Interest payouts are taxable, but capital appreciation upon maturity remains tax-exempt.

This, coupled with the exemption of capital gains tax at maturity (after 5 years), makes SGBs an attractive investment from a tax perspective, experts say.

Elimination of storage concerns

SGBs exist in dematerialised (demat) form, eliminating concerns about physical gold storage.

Gold’s historical resilience

Gold has historically proven to be a safe-haven investment during economic uncertainties, geopolitical tensions, or currency devaluations, driving significant demand.

Return expectations from the current series

Investors can expect a 2.5% annual return on their investment, leading to a return of ₹1,252.6 on an investment of ₹6,263 (per gram) until maturity.

Expert recommendations

Experts suggest an ideal portfolio allocation of 8-12% to gold for a safety net during uncertain times.

As gold prices are expected to rise further in 2024 due to high demand, the current tranche of SGBs presents a decent investment opportunity for those looking to diversify their portfolio and benefit from the unique advantages offered by Sovereign Gold Bonds.

However, it’s essential to consider any investment decision within the broader portfolio context and long-term financial goals.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow