Gold Prices May Cross Rs 2 Lakh per 10 Grams in India as Central Banks Increase Purchases, Global Demand Rises - The report stated that fund managers expect gold prices to rise as investors seek safe-haven assets amid concerns over economic instability and currency depreciation. Central banks' gold purchases have also emerged as a key factor influencing the precious metal's future price movement. Get Latest News on Business only on lokmattimes.com

India’s government said average retail sugar prices have fallen 15% from their August peak, while ex-mill prices are down about 28% and have stayed steady for the past three weeks. To ensure supply during the festive season, authorities will impose stricter stockholding norms for sugar dealers from October 15 through November 30, 2026. The government said the changes are intended to curb hoarding and could put further downward pressure on prices.

Gold prices fell nearly 2% over the week as stronger-than-expected US inflation data and rising expectations of a Federal Reserve rate hike damped demand. Over the same period, WTI crude climbed above $104 a barrel amid geopolitical tensions, rising 9.6% on the week and adding to inflation pressure. The US August CPI rose 3.4% year on year, while higher energy costs further reduced gold’s appeal.

Gold prices extended their decline as investors grappled with uncertainty over the Federal Reserve’s policy path. Spot gold slid to around $4,576 per ounce, while India’s domestic gold price has fallen by nearly Rs 5,000 per 10 grams over four sessions. The US PCE inflation rate for July held at 3.7%, slightly above forecasts, prompting markets to scale back September hike expectations while still pricing a high probability of a December move. Investors are awaiting remarks from Fed Chair Kevin Warsh for clues on the rate outlook.

Gold rose 0.86% for the week after a run of weaker-than-expected US economic data strengthened expectations that the Federal Reserve will keep interest rates unchanged. On Friday, MCX gold futures (October) climbed 0.73% to Rs 154,590, while MCX silver futures (September) edged up 0.15% to Rs 2,36,272 per kg. Technically, commodity market experts see immediate resistance for COMEX gold at $4,470–$4,500 and support at $4,400–$4,370. July core CPI eased to 2.5%, keeping inflation broadly contained and reinforcing the view of unchanged rates.

India’s National Stock Exchange has filed draft IPO papers with SEBI for a Rs 30,000 crore listing, structured entirely as an Offer for Sale of up to 14.89 crore shares, or nearly 6% of its paid-up equity capital. The filing shows transaction charges made up more than 78% of operational revenue over FY26, FY25 and FY24. It also flags heavy reliance on derivatives activity, particularly options trading volumes, as a key business risk, according to the DRHP.

India’s Finance Minister Nirmala Sitharaman received dividend cheques for FY 2025–26 on July 29 from several state-owned financial institutions, including Rs 12,207 crore from Life Insurance Corporation of India (LIC). She also received Rs 2,853 crore from Union Bank of India and Rs 211 crore from New India Assurance Co. The finance ministry has previously said public sector banks’ stronger profitability was supported by improved asset quality, steady credit expansion and higher income.

The Tamil Nadu government has launched an anti-corruption probe into the state-run liquor retailer TASMAC, with the Directorate of Vigilance and Anti-Corruption (DVAC) carrying out simultaneous searches at 41 locations statewide. Investigators are examining allegations that roughly Rs 3,600 crore may have been siphoned off over the past five years through informal “party fund” collections. The claims involve 4,048 registered retail outlets and remain unconfirmed as the investigation continues. The matter is a state administrative enforcement action and does not involve listed companies, financial infrastructure, or tradable traditional assets.

NTPC reported its first-quarter FY27 results with consolidated net profit of 534亿卢比, up 12% year on year and above the market average estimate of 480亿卢比. Electricity sales volume and revenue each rose about 3% from a year earlier, supported by strong demand during the summer peak. The company added 196 MW of generation capacity during the quarter.