National News
Bluestone in talks with Peak XV Partners, Steadview Capital Think Investments for Pre-IPO Round
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
Bluestone, a jewellery brand, is in talks to negotiate an investment of around Rs 830 crore from Peak XV Partners, Steadview Capital, and Think Investments.
The pre-IPO round will combine share sales by early investors with new capital, aiming to value the omnichannel retailer at approximately Rs 7,500 crore ($900 million) before the infusion, as per the report.
Venture capital firm Peak XV Partners will reportedly invest around Rs 415 crore in the round. A source speaking to the Economic Times said, “Peak XV is in talks to lead the funding amid a wider inclination for venture funds to tap domestic brands and offline retailers.”
Further, some family offices via special-purpose vehicles might also reportedly participate in the round. The round is expected to be closed in the next few days.
In September 2023, Bluestone raised $65 million from a group of investors at a valuation of $410 million.
National News
MCX Gold and Silver Decline Sticky Inflation Fears
There Was Profit-Booking Following Recent Highs Fueled Speculation Around Central Bank Monetary Tightening.
Gold and silver prices dropped by up to 1% on the MCX as sticky inflation fears, volatile energy prices, and profit-booking following recent highs fueled speculation around central bank monetary tightening.
Inflation & Rate Hike Speculation: Despite July US CPI moderating to 3.4% YoY and PPI remaining flat, inflation remains well above the Fed’s 2% target. Markets are currently pricing in a ~1-in-3 chance of a September rate hike.
Energy & Geopolitical Volatility: Ongoing Middle East conflicts—amplified by US naval blockades of Iranian ports—have pushed oil prices above $87/bbl, creating energy-driven inflation risks.
Mixed Economic Signals: Weak US payrolls (dropping 23,000 in July vs. +80,000 expected) initially supported rate-freeze bets, but upcoming PCE data (due August 26) keeps traders cautious.
Profit-Taking: Technical profit booking emerged after gold breached its 100-day moving average.
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