Gold prices fell nearly 2% this week as a jump in crude oil and stubborn U.S. inflation strengthened expectations of further Federal Reserve rate hikes, weighing on demand for precious metals. WTI crude rose above $104 a barrel and is up nearly 16% over the past month. U.S. August CPI rose 3.4% year on year and PPI increased 5.4% annually, both slightly above expectations, pushing Treasury yields higher and pressuring gold.

Metal prices broadly strengthened in August, with India rebar up nearly 10% month on month and 12% year on year, while hot-rolled coil prices in the U.S. and Europe rose about 3%. Aluminium increased to $3,251 per tonne. Global crude steel output fell around 4% month on month to 149.2 million tonnes in July, with China down about 4% year on year and production outside China up 3%. Australian iron ore prices declined about 2% month on month and 3% year on year, according to a Centrum report.

A Bloomberg survey shows India’s sugar production in the 2026-27 season is expected to fall to 29 million tonnes to 31 million tonnes, below 31 million tonnes projected for the current season, as El Niño-linked dryness threatens the crop. Monsoon rainfall is running about 15% below normal, raising risks for sugarcane. To shore up inventories, India may need to import 2 million tonnes to 3 million tonnes of sugar. Raw sugar futures in New York have risen nearly 30% this year.

Shares of India’s gold-financing and jewellery-linked lenders rose, with Manappuram Finance up about 2% and Muthoot Finance gaining 4%. Spot gold climbed above $4,525 per ounce, the highest level since June 2, after rising more than 4% in the previous session. Analysts said the price has broken through the $4,400$4,500 range, and staying above that zone could support further gains. Rising US Treasury yields and inflation concerns kept gold in focus, while Fed meeting minutes showed several policymakers worried about inflation and open to higher rates.

Natco Pharma said its consolidated net profit fell 57% year on year to Rs 206.5 crore in Q1 FY27, hit by weaker sales of its generic cancer drug lenalidomide. Revenue from operations declined 44.7% to Rs 735.2 crore from Rs 1,328.9 crore a year earlier. The company’s board approved an interim dividend of Rs 1.50 per equity share.

Jubilant FoodWorks reported Q1 FY27 results, with profit after tax up 4.3% year on year to Rs 70 crore and revenue rising 9.2% to Rs 1,848.85 crore, while EBITDA margin improved to 19.5%. Jefferies reiterated its ‘Buy’ rating and set a target price of Rs 650, implying more than 32% upside from Thursday’s close. The stock rose 4% on the back of the update, though it remained down 8.1% so far in 2026.

Godrej Industries reported consolidated net profit of Rs 284 crore for the quarter ended June 2026, down 18.7% year on year from Rs 350 crore. Revenue from operations rose 22.2% to Rs 5,448.1 crore. In its real estate business, the company sold 3,738 units totaling 6.2 million sq ft and added three projects with about 8 million sq ft of saleable area and a potential booking value of Rs 9,500 crore.

GE Power India reported Q1 FY27 consolidated net profit of Rs 53.7 crore, up 55% year on year, while revenue from operations increased 7.6% to Rs 308.7 crore. Total expenses fell 8.1% to Rs 271.8 crore and basic and diluted earnings per share were Rs 7.99. On a sequential basis, net profit declined 53% from Rs 113.2 crore and revenue slipped 2.4% from Rs 316.4 crore.

Black Box reported a 18% year-on-year increase in Q1 FY27 consolidated net profit to Rs 55.9 crore, while revenue from operations rose 24% to Rs 1,719 crore. On a sequential basis, net profit fell 14% from Rs 64.8 crore in Q4 FY26 even as revenue increased 1.6% from Rs 1,691 crore, reflecting higher expenses and exceptional costs during the June quarter. The board has recommended a final dividend of Re 1 per equity share, and total expenses increased 23% year-on-year to Rs 1,653 crore.