Business
Gold and silver see rollercoaster end to blockbuster year
Gold and silver have seen a rollercoaster end to a year in which their prices are on track to record their biggest annual gains since 1979.
The price of gold soared by more than 60% this year to hit a record high of more than $4,549 (£3,378) an ounce before falling after Christmas to stand at about $4,330 on New Year’s Eve.
At the same time, silver was trading at about $71 an ounce after hitting an all-time high of $83.62 on Monday.
This year’s gains were fuelled by a number of reasons including expectations of more interest rate cuts, gold purchases by central banks and as investors buy so-called “safe haven” assets due to concerns about global tensions and economic uncertainty.
“Gold and silver prices are experiencing a notable rise due to the interplay of several economic, investment, and geopolitical factors,” said Rania Gule from trading platform XS.com.
The main driver of the price rises of precious metals, she added, are expectations that the US Federal Reserve will cut interest rates again in 2026.
Also this year, central banks around the world added hundreds of tons of gold to their reserves, according to the World Gold Council trade association.
Daniel Takieddine, co-founder of investment firm Sky Links Capital Group, points to “supply tightness and industrial demand” for helping to push up the price of silver.
China, which is the world’s second biggest producer of silver, has said it would restrict the export of the precious metal.
In October, China’s Ministry of Commerce announced new restrictions on exports of silver as well as the metals tungsten and antimony to “to step up the protection of resources and the environment”.
Responding to a post on social media about Chinese government restrictions on silver exports, Tesla boss Elon Musk said: “This is not good. Silver is needed in many industrial processes.”
Mr Takieddine also highlighted the large amounts of money that have flowed into the precious metals market through investments like exchange-traded funds (ETFs).
ETFs are baskets of investments that trade on a stock exchange like a single stock. They can be seen as a convenient way to trade precious metals as investors do not have to take possession of physical bullion.
Ms Gule said she expects gold to continue to rise in 2026 but “at a more stable pace compared to the record highs observed in 2025”.
Silver also has the potential to rise again in the coming year, said Mr Takieddine. But he warns “rallies may be followed by sharper corrections.”
Business
FDA chief Marty Makary says ‘everything should be over the counter’ unless drug is unsafe or addictive
Food and Drug Administration Commissioner Marty Makary told CNBC that he believes “everything should be over the counter” unless a drug is unsafe, addictive or requires monitoring – doubling down on a push that some in the pharmaceutical industry have questioned.
In an interview Wednesday in Washington, D.C., Makary said the FDA aims to make changes this year that allow more companies to offer their prescription medicines over the counter, or OTC. He noted that the agency is going through “the proper regulatory processes” to update OTC monographs – the rulebooks that determine which drugs can be sold without a prescription.
Makary said the FDA is looking at “basic, safe” prescription drugs like nausea medications and vaginal estrogen, which is used to treat menopausal symptoms like dryness and pain.
“In my opinion, everything should be over the counter and not requiring a prescription, unless it’s unsafe, unless you need laboratory tests to monitor how it’s being received by your body, or if it could be used for some nefarious purpose or it’s addictive,” Makary told CNBC after the PhRMA Forum, a one-day event organized by the pharmaceutical industry’s largest lobbying group.
“If it doesn’t meet those criteria, why shouldn’t a drug be over the counter? So we should be asking, why not? Instead of, ‘Oh, you want to move over the counter, you got to go through a long, tedious process,'” he added.
Marty Makary, U.S. President Donald Trump’s nominee to be U.S. Food and Drug Administration (FDA) commissioner, testifies before a Health, Education, Labor, and Pensions (HELP) Senate Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., March 6, 2025.
Kent Nishimura | Reuters
The FDA has long considered making some prescription drugs available OTC to improve accessibility, reduce health-care costs and help patients stay on their medications. For example, patients wouldn’t have to take time off work to see a doctor for a prescription or could refill a drug without delay.
Congress boosted the effort through legislation in November that streamlines the regulatory process for prescription-to-OTC transitions, including full, conditional and partial “switch” pathways.
Makary framed the FDA’s latest push to expand OTC access as another way to lower drug costs, a key priority of the Trump administration. He argued that placing medications directly on store shelves would bypass insurers and pharmacy benefit managers, eliminating the rebate-driven system that often obscures a drug’s true price.
He also said selling drugs over the counter promotes transparency that “keeps prices in check.” In some cases, Makary said cash prices for OTC medicines are lower than patients’ copays for prescription drugs “when there’s a money game going on behind the pharmacy counter,” with employers and insurers sharing the cost.
Pharma questions OTC push
Some in the pharmaceutical industry have pushed back on that argument. Most OTC drugs are not covered by insurance, meaning their prices could eclipse those of generic prescription medicines and potentially make them less affordable for patients who rely on coverage.
In comments to the FDA earlier this month, the Association for Accessible Medicines argued that “the shift of many prescription drugs to nonprescription status could actually increase costs to patients, thereby decreasing patient access to treatments.” That organization represents manufacturers and distributors of generic prescription medicines.
The FDA also doesn’t have the authority to regulate drug prices. In its own comments this month, PhRMA said the agency must respect “the core principle that pricing considerations may not factor into FDA regulatory decision-making.”
The Pharmaceutical Research and Manufacturers of America added that the FDA should not attempt to transition any prescription drugs to OTC without first consulting manufacturers. But the group emphasized that it supports the FDA’s effort to expand access to crucial medicines.
In its own comment this month, AstraZeneca said several previous attempts to transition cholesterol-cutting statins to OTC status have been “unsuccessful, with consumers consistently having difficulty making proper self-selection decisions.”
Meanwhile, Makary told CNBC on Wednesday that “we have to trust people to make their decisions. We’ve got to get away from this paternalistic mindset.”
The FDA removed the longtime director of the office of over-the-counter drugs, Theresa Michele, from her position in December, STAT news reported at the time.
Business
Stock market today: Which are top gainers and losers on NSE and BSE on February 18? Check list – The Times of India
Market ended in green for the third straight session on Wednesday, with benchmark equity indices rising on the back of last-hour buying in banking, metal and FMCG stocks.The 30-share BSE Sensex jumped 283.29 points, or 0.34 per cent, to settle at 83,734.25 in a volatile trade. The 50-share NSE Nifty gained 93.95 points, or 0.37 per cent, to close at 25,819.35.Among the Sensex constituents, Tata Steel, ITC and Kwality Walls were the major gainers. On the other hand, Eternal, Tech Mahindra and Infosys were the laggards.“Indian markets witnessed a late surge driven by broad-based buying after a cautious start, as positive domestic sectoral cues helped offset lingering global uncertainties,” Vinod Nair, Head of Research, Geojit Investments Ltd, said.He added that banking and financial stocks remained resilient on the back of steady asset-quality expectations, while selective buying in FMCG names contributed to relative outperformance.Broader indices also traded firm, with the BSE Smallcap Select Index rising 1.02 per cent and the Midcap Select Index gaining 0.40 per cent.“Indian equity markets extended gains for the third consecutive session staging a gradual recovery, with the Nifty rising 0.4 per cent, supported by strength in PSU and metal stocks. On the flows front, FIIs remained net buyers on Tuesday, purchasing equities worth Rs 995 crore, while DIIs also bought shares worth Rs 187 crore, providing support to sentiment,” Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said.
Nifty50 top gainers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| Kwality Wall’s | 29.33 | 1.38 ↑ | 4.94% ↑ |
| HDFC Life | 729.60 | 23.80 ↑ | 3.38% ↑ |
| Tata Steel | 209.03 | 5.95 ↑ | 2.93% ↑ |
| ITC | 332.45 | 7.00 ↑ | 2.16% ↑ |
| Tata Consumer | 1,170 | 21.20 ↑ | 1.85% ↑ |
| Bajaj Auto | 9,980 | 154.00 ↑ | 1.57% ↑ |
| Axis Bank | 1,377 | 19.80 ↑ | 1.46% ↑ |
| Reliance Industries | 1,441 | 18.30 ↑ | 1.29% ↑ |
| Nestle India | 1,301 | 15.60 ↑ | 1.22% ↑ |
| M&M | 3,531 | 41.30 ↑ | 1.19% ↑ |
Nifty50 top losers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| ONGC | 264.60 | -7.25 ↓ | -2.67% ↓ |
| Wipro | 211.95 | -3.75 ↓ | -1.74% ↓ |
| Eternal | 277.35 | -4.15 ↓ | -1.48% ↓ |
| Adani Enterprises | 2,211 | -31.71 ↓ | -1.42% ↓ |
| Infosys | 1,374 | -17.50 ↓ | -1.26% ↓ |
| Tech Mahindra | 1,505 | -19.00 ↓ | -1.25% ↓ |
| HCL Technologies | 1,467 | -15.40 ↓ | -1.04% ↓ |
| Adani Ports & SEZ | 1,551 | -15.50 ↓ | -0.99% ↓ |
| Coal India | 418.00 | -3.56 ↓ | -0.85% ↓ |
| TCS | 2,695 | -22.50 ↓ | -0.83% ↓ |
Sensex top gainers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| Kwality Wall’s | 29.33 | 1.38 ↑ | 4.94% ↑ |
| Tata Steel | 209.03 | 5.95 ↑ | 2.93% ↑ |
| ITC | 332.45 | 7.00 ↑ | 2.16% ↑ |
| Axis Bank | 1,377 | 19.80 ↑ | 1.46% ↑ |
| Reliance Industries | 1,441 | 18.30 ↑ | 1.29% ↑ |
| M&M | 3,531 | 41.30 ↑ | 1.19% ↑ |
| Larsen & Toubro | 4,326 | 46.10 ↑ | 1.08% ↑ |
| Bajaj Finance | 1,024 | 9.65 ↑ | 0.96% ↑ |
| Bajaj Finserv | 2,061 | 16.20 ↑ | 0.80% ↑ |
| UltraTech Cement | 13,052 | 68.00 ↑ | 0.53% ↑ |
Sensex top losers
| Company Name | Current Price (Rs) | Price Change | % Change |
|---|---|---|---|
| Eternal | 277.35 | -4.15 ↓ | -1.48% ↓ |
| Infosys | 1,374 | -17.50 ↓ | -1.26% ↓ |
| Tech Mahindra | 1,505 | -19.00 ↓ | -1.25% ↓ |
| HCL Technologies | 1,467 | -15.40 ↓ | -1.04% ↓ |
| Adani Ports & SEZ | 1,551 | -15.50 ↓ | -0.99% ↓ |
| TCS | 2,695 | -22.50 ↓ | -0.83% ↓ |
| Asian Paints | 2,432 | -5.31 ↓ | -0.22% ↓ |
| NTPC | 368.00 | -0.40 ↓ | -0.11% ↓ |
| HDFC Bank | 924.70 | -1.00 ↓ | -0.11% ↓ |
| Maruti Suzuki | 15,164 | -15.00 ↓ | -0.10% ↓ |
In Asian markets, Japan’s Nikkei 225 benchmark closed 1 per cent higher, while markets in China, Hong Kong and South Korea remained closed due to Lunar New Year holidays. European markets were trading higher in mid-session deals, and US equities had settled in positive territory on Tuesday.Foreign institutional investors bought equities worth Rs 995.21 crore on Tuesday, while domestic institutional investors purchased stocks worth Rs 187.04 crore, according to exchange data. Brent crude, the global oil benchmark, rose 0.33 per cent to USD 67.64 per barrel.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
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