???? Gold Breaks $3,000!
Hala,
Elon Musk says SpaceX’s Starship rocket will launch to Mars by the end of next year.(1) ?? Despite a few test explosions, ?? Musk’s dream of colonizing Mars is still alive. Maybe he's just planning to move there himself and leave Earth behind? ????
- A new REX ETF offers exposure to convertible bonds from companies stacking Bitcoin via debt. With 80% of assets in these bonds, investors get a mix of stability and high-risk crypto exposure—without issuing debt themselves.
- Litecoin, XRP, and Solana ETFs remain in SEC limbo, with fresh delays. But asset managers keep filing, proving institutional demand for altcoins isn’t fading—just waiting for regulatory green lights.
- While altcoins stall, Bitcoin rallies, pulling in fresh capital. Analysts expect ETF approvals post-regulatory shifts, but for now, Bitcoin reigns supreme while altcoins play the waiting game.
Stock Market Update
??↗? Wall Street shook off the week’s blues with a Friday comeback, leaving tariff worries in the dust. The Dow climbed 1.65% to 41,488, the S&P 500 flexed its best day of 2025, jumping 2.13% to 5,639, while the Nasdaq 100 soared 2.49% to 19,704.64. Big Tech regained their mojo, with Nvidia, Tesla, Meta, Amazon, and Apple joining the party.(2) Looks like investors hit “refresh†just in time for the weekend. ????
???? Meanwhile, Mideast stocks played seesaw: Dubai slid 0.9% to 5,141 on real estate woes, while Abu Dhabi inched up 0.1% to 9,419, banking on gains from e& and FAB.(3) ?????
???? Gold’s Soaring Over $3,000!
Gold’s chart-topping rise above $3,000 is like a lighthouse piercing through the fog—offering a beacon of safety as market storms rage.(4) The precious metal shot past the $3,000 mark for the first time, making it the talk of the town and a must-have for anyone looking to keep their assets from being swept away by economic uncertainty. ???
???? Gold Hits Record Highs: Safe-Haven Sweet Spot
- Spot gold hit an all-time high of $3,004.86 before retreating slightly to $2,986.26 (but don’t worry, it’s still flying high!).
- U.S. futures followed the gold rush, settling at $3,001.10.
- Silver stayed at $33.80 an ounce, platinum?rose 0.1% to $995.20, and palladium?gained 0.6%, reaching $963.76.
- Investors are seeing gold as the ultimate safe haven from the turbulence of U.S. President Donald Trump’s tariff wars and market chaos.
- Central banks (looking at you, China!) are making big gold purchases to diversify from the volatile U.S. dollar.
- Goldman Sachs sees even more upside potential, predicting it could soar beyond $3,100 by the end of 2025. ????
???? Investors Grab Gold Like It’s Black Friday at Tiffany’s
Gold’s incredible surge is fueled by everything from the ongoing trade tensions to the worry that stock markets might just spiral into the abyss. Central banks are loading up on gold like a Black Friday shopping spree, and the future looks golden—pun intended. With a potentially lower interest rate forecast and geopolitical unrest brewing, there’s no reason to believe the golden ticket won’t continue to shine. ???
?
Closer to Home?
- ?? Adnec Group, the force behind the region’s largest expo venue, Adnec Centre Abu Dhabi, pumped a record AED 8.5B ($2.3B) into the UAE economy—topping last year’s AED 7.4B.(5) Bigger impact, bigger ambitions! ??
- ?? UAE’s NMDC Energy just bagged a AED 9.7B ($2.6B) deal for a major EPC project in Abu Dhabi. Work kicks off March 31, with a 57-month timeline to bring this energy giant’s latest project to life.(6) ?
- ?? Global ratings agency S&P upgraded Saudi’s credit rating to “A+†from “A,†citing bold reforms, stronger governance, and booming capital markets. The Kingdom’s transformation seems to be paying off.(7) ??
What Else Is Trending
- ?? The UK economy unexpectedly shrank 0.1% in January, missing forecasts of 0.1% growth, after December’s 0.4% rise, as manufacturing slumped and tax hikes loomed.(8) Looks like growth took a coffee break. ?
- ??? Ferrari CEO Benedetto revealed that 40% of new Ferrari buyers are under 40 years old, up from 30% just 18 months ago. But don’t expect instant gratification; the waitlist is still part of the thrill because exclusivity never rushes.(9) ??
- ??? Meanwhile, oil prices rebounded on Friday as hopes for a quick Ukraine resolution faded. Brent and WTI rose 1% to $70.58 and $67.18, respectively.(10) ?
??Quote of the Day
“He who has the gold makes the rules.†– Unknown
Sources:(1) (8) BBC, (2) (9) CNBC, (3) (5) (6) (7) Zawya, (4)(10) Reuters