DUBAI: International brokerage firm Capex.com has raised a total of $21 million in a new funding round, as interest in online trading and investment grows.
The proceeds will be used to launch new products, the company said in a statement, as well as for its expansion plans in key markets around the world.
Capex.com, which is the official trading partner of Juventus, currently operates four trading licenses, one of which is from the Abu Dhabi Global Market Financial Services Regulatory Authority.
The company said it saw rapid growth last year, driven by younger people taking an interest in online trading.
“Although millennials are still the leading force behind last year’s massive growth of the fintech industry, we can see that everyone is now using apps to manage their finances, make payments, trade and invest,” Octavian Patrascu, CEO of Key Way Markets that owns Capex.com, said.
He said 2021 is a “key moment for financial markets” given the changes brought by the COVID-19 pandemic that has pushed economies to the wall.
The company got its Abu Dhabi license last year – four years after it was first founded. It recently opened an office in Spain, and is expanding its operations to Latin America and Southeast Asia.
Abu Dhabi broker Capex.com raises $21m and targets millennial investors
https://arab.news/zdbpc
Abu Dhabi broker Capex.com raises $21m and targets millennial investors
- The proceeds will be used to launch new products and for its expansion plans in key markets around the world
Silver crosses $77 mark while gold, platinum stretch record highs
- Spot silver touched an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits
- Spot platinum rose 9.8% to $2,437.72 per ounce, while palladium surged 14 percent to $1,927.81, its highest level in over 3 years
Silver breached the $77 mark for the first time on Friday, while gold and platinum hit record highs, buoyed by expectations of US Federal Reserve rate cuts and geopolitical tensions that fueled safe-haven demand.
Spot silver jumped 7.5% to $77.30 per ounce, as of 1:53 p.m. ET (1853 GMT), after touching an all-time high of $77.40 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US critical mineral, and strong investment inflows.
Spot gold was up 1.2% at $4,531.41 per ounce, after hitting a record $4,549.71 earlier. US gold futures for February delivery settled 1.1% higher at $4,552.70.
“Expectations for further Fed easing in 2026, a weak dollar and heightened geopolitical tensions are driving volatility in thin markets. While there is some risk of profit-taking before the year-end, the trend remains strong,” said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Markets are anticipating two rate cuts in 2026, with the first likely around mid-year amid speculation that US President Donald Trump could name a dovish Fed chair, reinforcing expectations for a more accommodative monetary stance.
The US dollar index was on track for a weekly decline, enhancing the appeal of dollar-priced gold for overseas buyers.
On the geopolitical front, the US carried out airstrikes against Daesh militants in northwest Nigeria, Trump said on Thursday.
“$80 in silver is within reach by year-end. For gold, the next objective is $4,686.61, with $5,000 likely in the first half of next year,” Grant added.
Gold remains poised for its strongest annual gain since 1979, underpinned by Fed policy easing, central bank purchases, ETF inflows, and ongoing de-dollarization trends.
On the physical demand side, gold discounts in India widened to their highest in more than six months this week as a relentless price rally curbed retail buying, while discounts in China narrowed sharply from last week’s five-year highs.
Elsewhere, spot platinum rose 9.8% to $2,437.72 per ounce, having earlier hit a record high of $2,454.12 while palladium surged 14% to $1,927.81, its highest level in more than three years.
All precious metals logged weekly gains, with platinum recording its strongest weekly rise on record.
