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Indian Trade Minister: The signing of the US-India trade agreement took longer than expected because the US initially imposed a 50% tariff on India.Indian Trade Minister: India expects the trade agreement with the United States to open its market to the service sector.Indias Trade Minister: India plans to sign trade agreements with Canada, Israel, and the Gulf Cooperation Council.Indian Trade Minister: India aims to gain preferential access through a trade agreement with the United States.On June 22nd, Goldman Sachs predicted that central banks will continue purchasing gold at a rate of 50 tons per month in 2026, slowing to 40 tons per month in 2027. Even with a slight decrease in the monthly purchase rate from previous peaks, this trend still provides sustained structural support for gold prices. A record proportion of central banks have indicated their intention to increase their gold reserves, providing a substantial buffer against downside risks to gold prices. Goldman Sachs forecast implies that even with fluctuations in monthly data, central bank demand will remain one of the most persistent structural support factors for gold prices over the next two years. Another survey conducted by the World Gold Council between February and May, involving 76 central banks, also supports this view. A record 45% of respondents indicated they expect to increase their gold reserves in the next 12 months, the highest level in the surveys history. Approximately 90% of respondents expect global central bank gold holdings to rise during the same period, while the remaining respondents expect them to remain roughly stable. No respondents expected a decline.

What You Should Know About GameStop's Collaboration With FTX

Aria Thomas

Sep 08, 2022 11:16

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GameStop Corporation (NYSE:GME) has partnered with FTX, a cryptocurrency exchange, in an effort to draw more customers to the digital asset market.


What Happened: On Wednesday, GameStop and FTX announced their partnership in a press release. The transaction's terms were not made public.


The partnership intends to introduce more GameStop customers to FTX's digital asset community and marketplaces, according to a statement from GameStop.


Sam Bankman-Fried founded FTX, a digital currency exchange that supports trading in Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Dogecoin (CRYPTO: DOGE), and a number of other cryptocurrencies.


Additionally, GameStop and FTX will collaborate on new e-commerce and internet marketing initiatives. At addition, GameStop will stock FTX gift cards in certain locations and become FTX's leading retail partner in the United States.


Launched in July, GameStop's L2 NFT marketplace has had a rapid increase in trading volume among decentralized non-fungible token exchanges. According to data published by CoinDesk, GameStop's NFT marketplace exceeded Coinbase Global Inc.'s (NASDAQ: COIN) all-time NFT trade volume in its first week of operation.


After-hours trading for GameStop shares climbed by 13% following the release of second-quarter results. Although the business's second-quarter revenue of $1.136 billion fell short of Wall Street's forecast of $1.27 billion, the company emphasized the $233.2 million in sales from its booming collectibles sector, which had climbed from $177.2 million in the same period of the prior year.

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