Overview
- Analysts expect a third straight week of consolidation, with attention on manufacturing and services PMIs and China’s trade and growth figures.
- Beijing scrapped a retailer tax rebate, nudging spot prices down by up to 1% in Asian trading and putting India’s benchmark near Rs 1,21,660 on Monday.
- The US Supreme Court’s Nov. 5 tariff hearing is highlighted as a potential market catalyst by JM Financial’s Pranav Mer.
- US private indicators including ADP payrolls, consumer sentiment and inflation expectations are being watched for near‑term direction in bullion.
- On MCX, December gold futures fell Rs 2,219 last week to Rs 1,21,232 per 10 grams after two negative weekly closes and elevated volatility tied to a hawkish Fed and improved US–China trade sentiment.