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After scaling record highs last week, gold prices may face some short-term profit booking, with the precious metal's future direction dependent on upcoming global economic indicators like US and domestic inflation data, and the European Central Bank's policy meeting, according to analysts. Bullion traders will also closely monitor macroeconomic data, including the US Producer Price Index and speech of the European Central Bank's (ECB) President Christine Lagarde, they added. "Going into the week ahead, the focus will be on the inflation numbers from China, the US, Germany and India, along with American consumer sentiment data. Adding to that would be the European Central Bank's policy meeting on Thursday, as well as Chinese inflation data, which will be closely watched," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said. On the Multi Commodity Exchange (MCX), the October contract of gold surged Rs 1,131 or 1.06 per cent to touch a ...
Equity investors would track global market trends, inflation data and trading activity of foreign investors for further cues this week, analysts said. Moreover, progress of monsoon and developments related to trade talks would also be monitored by investors, experts noted. "Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank's next steps. Additionally, the progress of monsoon and sowing patterns will be monitored due to their implications for rural consumption," Ajit Mishra -- SVP, Research, Religare Broking Ltd -- said. On the global front, developments in trade negotiations and movements in US bond yields will continue to influence investor sentiment, he added. Benchmark indices Sensex and Nifty surged on Friday, driven by a rally in rate-sensitive sectors following the Reserve Bank's jumbo rate cut of 50 basis points. The 30-s