Comex gold futures rose above $4,170 per ounce to a record high, while silver futures extended their winning streak. The move was driven mainly by rising safe-haven demand as markets reacted to heightened geopolitical or macro uncertainty. The article describes this as spot commodities trading activity that fed directly into gold and silver futures prices through a clear asset-price transmission path.

India’s cotton sowing area stood at 92.53 lakh hectares as of 17 July, down 5.96% year on year. Cotton output fell from 336.6 lakh bales in FY23 to 290.24 lakh bales in FY26, tightening domestic supply as imports rose 54.9% to $1.89 billion. The government has waived cotton import duty until October 2026 and is pushing the Cotton Corporation of India to supply mills directly. Experts said any El Niño-related rainfall shortfall could prompt farmers to shift toward cotton, but sowing is still at an early stage and near-term supply-demand disruptions are not evident.

Raajmarg Infra, India’s first NHAI-sponsored listed InvIT, is considering a follow-on public offer (FPO) to widen retail participation and fund toll-road expansion. It has a Right of First Offer (ROFO) agreement with the National Highways Authority of India covering 1,500 km of future road assets to be transferred over the next three to five years. The InvIT has also said it aims to grow its initial portfolio through selective acquisitions of additional toll-road projects that meet its investment criteria.

IBM shares have fallen for five straight sessions, dropping a combined 26% after the company’s latest earnings report showed sales below expectations. The company-specific setback has prompted investors to reassess the execution of IBM’s hybrid cloud and AI strategy. The impact has been concentrated in IBM stock, with no mention of broader assets, indices, commodities, or macro factors.

On 20 July, COMEX gold futures held steady near $4,000 per ounce, while COMEX silver futures rose 1.3% to $57.75. MCX gold and silver futures also moved in tandem. The US-Iran conflict entered its fifth month, with the United States carrying out a tenth straight day of strikes aimed at reducing Tehran’s ability to disrupt shipping through the Strait of Hormuz, while Iran said talks could still continue. Oil prices briefly climbed to a more than one-month high, stoking inflation concerns and reinforcing expectations of a “higher for longer” Federal Reserve stance that weighed on precious metals.

Meta is in discussions to lease computing power from its AI data centres to Anthropic under a potential agreement worth up to $10 billion over two years. The talks would allow Meta to generate revenue from capacity built for its own AI plans as it prepares to spend as much as $145 billion this year, more than double the $72 billion spent last year. Mark Zuckerberg has said the company may have “overbuilt” and that selling compute is an option if it finds itself with excess capacity. The discussions provide an early sign that Meta’s AI capital spending could produce near-term monetisation, according to The New York Times.

PC Jeweller said on July 16 it plans to raise up to ₹1,000 crore via a qualified institutions placement (QIP). The company also approved increasing its authorised share capital to ₹1,460 crore from ₹1,310 crore, adding 150 crore equity shares. After the announcement, the stock fell as much as 5.80% in the session to ₹9.73. PC Jeweller shares are up 257% over the past five years, while the company did not disclose a specific use of proceeds.

Jio Platforms is expected to begin soft marketing for its planned IPO as early as next week, after it discloses earnings. The company intends to list the shares on the NSE and BSE, and use most of the proceeds to prepay borrowings at Reliance Jio Infocomm Ltd. Major shareholders include Reliance Industries, Meta Platforms (9.98%) and Google International LLC (7.73%).

Wipro shares fell more than 2% in a single session after the company reported its FY2024 first-quarter results. The decline was attributed to the Q1 performance coming in below market expectations, raising investor concerns over near-term earnings visibility and the sustainability of growth. As a bellwether among India’s IT services majors, Wipro’s results are seen as an indicator for the Nifty IT index and broader sentiment toward Indian technology stocks.