Domestic gold prices in India rose ₹1,600 to ₹1,56,600 per 10 grams, while silver gained ₹5,000 to ₹2,47,000 per kilogram as softer crude oil prices eased near-term inflation worries. Spot gold increased $50.96 to $4,392.78 an ounce, and silver rose 3.10% to $67.21 an ounce on stronger investor demand. Global holdings in gold-backed ETFs have risen 1.44 million ounces year to date to 100.39 million ounces.

Amazon’s quick-commerce service Amazon Now has surpassed $1 billion in annualised gross revenue in India less than two years after its launch. The service currently operates in more than 60 towns and cities, and Amazon said orders have doubled every quarter since it launched in India a year ago. Amazon plans to expand Amazon Now to 100 Indian cities by Diwali in November, stepping up competition with Blinkit, Zepto, Swiggy and Flipkart.

AI-related stocks fell broadly across Asian markets after senior industry executives warned that the sector should slow the rollout of advanced models and strengthen safety measures. Nasdaq e-mini futures slipped 1.3%, and SoftBank Group shares dropped as much as 13.2% in Japan, according to Reuters. The warnings from leaders including Anthropic and OpenAI added to investor concerns about the industry’s outlook.

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.