Hala,
🚗💨 A U.S. company just showed off its flying car! Jim Dukhovny, CEO of Alef Aeronautics, says they’re ready for takeoff (literally) with thousands of pre-orders! But at $300K a pop, maybe we’re not quite ready to ditch the roads just yet?(1) 😬
- Bitcoin breaks below $90K — again. The world’s largest cryptocurrency fell to $89,000 in London trading, dragged down by a broader market slump. Blame it on shaky sentiment, security scares, and capital flight. Even in crypto, bad vibes matter.
- Solana is reeling from a $1.72 billion token unlock, sending prices tumbling, while Dogecoin is, well, doing what meme coins do — dropping hard. Altcoins across the board are struggling as demand dries up.
- Speculative capital on the run? Unlike equities, bonds, or gold, crypto is feeling the heat as speculative money heads for the exits. Bitcoin is holding up better than most, but for smaller tokens, the selloff could be far from over.
Stock Market Update
📊↘️ Wall Street’s Monday blues hit hard. Tariff worries and tech troubles sent the S&P 500 slipping 0.5% to 5,983.25, the Nasdaq 100 tumbling 1.21% to 21,352.08, and the Dow barely budging, up 0.08% to 43,461.21. Big Tech took a beating, with Palantir, Microsoft, and Nvidia in the red — guess even Wall Street isn’t immune to Monday slumps.(2) 🤖📉
⬇️⏬ Meanwhile, Gulf markets tapped the brakes — Dubai slid 0.5% to 5,335 on profit-taking, while Abu Dhabi eased 0.2% to 9,595.(3) 💨📉
🛥️💰 Gold Rides the High Tide Amid Tariff Fears! 🛥️💰
Gold has sailed straight into the record books, briefly hitting a new high of $2,956.15 per ounce, like a glittering golden lifeboat rising on a turbulent ocean of market uncertainty. As the world worries about U.S. President Donald Trump’s tariff plans, the demand for safe-haven assets like gold is surging ,and the bullion is up more than 12% in 2025.(4) 🌊🪙
💎 Highs and Lows in Precious Metals:
Spot gold: Briefly hitting $2,956.15 an ounce, its 11th record high of 2025.
Spot silver: Dropped 0.7% to $32.32 an ounce.
Platinum: Fell 0.7% to $962.70 an ounce, but still holding its value. 🛟
Palladium: Slid 2.6% to $944.19, riding the waves but looking for a new direction. 🌊
SPDR Gold Trust: The world largest gold-backed ETF’s holdings rose to 904.38 metric tons — a massive splash in the ocean. 🐋
🏖️🎯 The Race to $3,000 Is On!
Gold’s shiny new price tag has got everyone talking, with investors now eyeing the $3,000 mark like a lush, uncharted island on the horizon. While some remain cautious, prices hovering around $2,950 have many wondering if the next rally is on its way. The bullish sentiment is strong, and as long as uncertainty lingers, gold seems poised to sail smoothly over rocky waters. 🚢💰
Closer to Home
- 🏦 Abu Dhabi Securities Exchange just introduced the New ADX Group, with fresh market infrastructure and two new subsidiaries, AD Clear & AD CSD — to boost capital markets and attract global investors. Talk about a glow-up!(5) 🚀
- 💰 At its general assembly, Emirates NBD reviewed a strong 2024 performance and approved a hefty AED 6.3B dividend (AED 1 per ordinary share). Shareholders, mark your calendars — March 6 is payday.(6) 🤑
- 🛫 Dubai-based carrier flydubai hit new heights in 2024 with AED 2.5B ($674M) in pre-tax profit (+16% YoY) and AED 12.8B in revenue (+15%) — its best year ever, thanks to a strong network and agile strategy. Smooth flight, indeed.(7) 🎉
What Else Is Trending
- 💻 Software company Palantir’s shares tumbled 10.5% on Monday, building on last week’s declines after CEO Alex Karp’s stock sale plans and defense budget fears spooked investors.(8) #AnotherRoughDay 📉
- 🤖 Anthropic’s valuation is going supersonic — the Amazon- and Google-backed AI startup is in talks for a $3.5B funding round, tripling its worth to $61.5B as investor demand stays hot.(9) AI gold rush? Still on! 🔥
- ⛽ Meanwhile, oil prices rose as fresh U.S. sanctions on Iran and Iraq’s production cuts fueled supply concerns. Brent rose 0.5% to $74.78, and WTI gained 0.4% to $70.70.(10) 🔥
💬Quote of the Day
“Investors believe that in the coming weeks and months or longer than that gold prices are going to continue to appreciate.” — Jim Wyckoff, a senior market analyst at Kitco Metals
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Sources:(1) BBC, (2) (8) (9) CNBC, (3) (5) (6) (7) Zawya, (4) (10) Reuters
