The broader focus however remained squarely on the risk of rising interest rates and painfully high energy prices causing recessions
Higher US interest rates typically leads to a stronger dollar and reduces the appeal of emerging market assets for global investors
The dollar index eased 0.4% on Wednesday, making gold less expensive for overseas buyers
U.S. commercial oil stocks are expected to have fallen for five weeks in a row, dropping by around 200,000 barrels in the week to Sept. 9, a preliminary Reuters poll showed on Monday
"Economic data and investor positioning are more important factors for risky asset performance than central bank rhetoric," the strategists wrote. "We maintain a pro-risk stance"
The US labor market has remained strong this year, with employers adding 315,000 jobs in August, a robust gain
The European Central Bank is due to meet later this week, where it is expected to deliver a large 75 basis-point interest rate hike to tame record high inflation
The growing bullish chorus points to a reopening of Southeast Asia that's bringing back a swarm of tourists, as well as booming domestic demand that's helping shield it from a global slump
CLOSING BELL: Reliance Industries tanked 3 per cent today, contributing nearly 30 per cent of the losses on the Sensex
Gold slipped on Wednesday and was on track for its longest run of monthly losses since 2018, pressured by aggressive rate hikes by major central banks across the world
The index is on track for a rise of around 2.6% in August, its third-straight monthly gain
Japan's Nikkei sagged 0.6%, while Australia's share benchmark slid 0.4% and South Korea's Kospi lost 0.5%
Data also showed a bigger-than-expected rebound in U.S. consumer confidence in August
Best Buy sales beat estimates as discounts spur demand; Jobs openings in July rises sharply
Gold prices took a beating as US Federal Reserve Chair acknowledged that a quick undo of central bank's rate tightening was far from over, which boosted the dollar and sent bullion to a one-month low
Equity markets declined the most in around a month on Monday following US Fed chief Jerome Powell's comments on Friday, which indicated that it will continue with its restrictive monetary policy
Gold prices hit a more than one-month low on Monday, pressured by a robust dollar after Jerome Powell signalled continuing with an aggressive monetary policy to tame inflation
Last week, the Sensex and the Nifty shed over 1 per cent but were still up nearly 15 per cent from their June lows
Inflation is now their chief concern, and Powell's remarks at the symposium, hosted by the Kansas City Fed, set a tone likely to register on global markets
Volatility in the crypto market comes at a time when the share markets too were showing high volatility, globally