Market move▲ Bullish for Indian equities
Gold gains as fading Fed hike prospects support prices
The brief
- Gold rose as October US rate-hike prospects faded
- Higher gold prices can benefit Indian gold-loan lenders and jewellery companies, while raising bullion costs
- Asian stocks advance as soft US jobs data cools Fed rate-hike bets
- Let exchange rate act as shock absorber: IMF on Fed hike impact on India
- Fed and ECB minutes to detail inflation concerns as rate-hike bets fade
- Weak US jobs report dims odds of an October Fed rate hike
- US adds 29,000 jobs in September, well below expectations