Indian cryptocurrency exchanges are now witnessing record-breaking trading volumes of Dogecoin, causing massive surge in traffic on these platforms. Named after a meme of the Japanese dog breed Shiba Inu and with supporters including Tesla's Elon Musk, the cryptocurrency has risen over 10 times in the last three months, with its market cap standing at almost $80 billion as on Thursday. The Dogecoin mania has reached Indian cryptocurrency exchanges. That said, here’s what else is making news. Silver jumped by Rs 465 to Rs 69,300 a kg. Domestic gold prices soared by 239 to Rs 46,992 per 10 gm in Mumbai retail market on Thursday on strong global cues, but further advanced was restricted by a firm rupee. And in commodities, Oil prices reversed gains under pressure from rising Covid-19 infections in India and elsewhere. In currencies, The rupee strengthened by 13 paise to 73.78 against the US dollar while the dollar held losses. In overnight trade, US equity indices gained on positive economic data. Stocks in other Asian markets opened slightly higher. The trade setup on Dalal Street looked strong as Nifty futures on Singapore Exchange traded with gains, signalling strength. Let's start with a quick glance on the state of the markets. Welcome to ETMarkets Morning, the show about money, business and markets. India Covid wave cripples Wall Street back offices FPIs take shelter in defensives in a Covid-hit economy
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