State Bank of India sold a 1.42% stake in its asset manager, SBI Funds Management Ltd, to 30 investors at Rs 574 per share, raising Rs 1,655 crore. The placement comes ahead of SBIFM’s Rs 11,600 crore IPO scheduled to open on July 14. The sale is a promoter stake dilution and does not involve fresh capital or operational changes.

Gold prices in India fell for a third straight session, sliding Rs 800 to Rs 1,48,450 per 10 grams, while spot gold slipped 1.2% to USD 4,056.24 an ounce. The drop followed a near 7% jump in crude oil after US President Donald Trump said the interim peace agreement with Iran was “over,” rekindling fears of a wider Middle East conflict. Higher oil prices lifted US Treasury yields and the dollar index, weighing on bullion. Silver prices were unchanged, and investors were awaiting the release of the Federal Reserve’s June FOMC minutes later in the day.

Adani Enterprises Ltd’s copper unit, Kutch Copper Ltd (KCL), has secured London Metal Exchange (LME) registration for its “Adani Copper” Grade A cathodes, making the brand deliverable against LME copper futures contracts from July 10, 2026. The approval grants Adani Copper LME Good Delivery status and allows warrants to be issued for eligible cathodes. KCL operates a 500,000 tonnes-per-year copper smelter at Mundra, which it says is one of the world’s largest single-location custom copper smelting facilities.

On Jul 6, gold in India fell Rs 150 to Rs 1,50,650 per 10 grams, while silver dropped Rs 5,000 to Rs 2,40,000 per kilogram. In overseas trade, spot gold was quoted at USD 4,160.60 an ounce and silver at USD 62.24 an ounce. A stronger US dollar weighed on bullion demand as traders cut positions ahead of the US ISM Services data and further inflation signals.

A breakdown in US-Iran talks and a sharp escalation in military conflict are prompting markets to reassess the Federal Reserve policy outlook alongside softer US PCE inflation and upcoming US jobs data. Gold fell 2.06% over the week and silver dropped 6.4%, while Comex gold slid 3.5% to USD 4,096 per ounce. Crude prices corrected by nearly 10% during the week, easing inflation concerns and undercutting gold’s dual appeal as a safe haven and an inflation hedge.

India’s benchmark Sensex and Nifty rebounded by about 1% on Wednesday, with the Sensex up 790.54 points to 76,991.22 and the Nifty rising 197.55 points to 24,021.65. The move was driven mainly by a 1.69% drop in Brent crude to USD 75.78 per barrel, alongside strong buying in banking and IT stocks. The report also referenced moves in Brent, the Nasdaq, the S&P 500 and the Nikkei, but the Brent decline was highlighted as the direct trading catalyst.

India’s retail petrol and diesel prices have not been cut despite softer international crude prices, as state fuel retailers are still drawing down inventories bought at higher rates, Petroleum Minister Hardeep Singh Puri said. He said the central government absorbed a cost of about Rs 10 per litre through excise duty reductions, limiting the cumulative increase in 2024 to Rs 7.60. Puri added that, in real terms, prices were effectively unchanged compared with levels during the RussiaUkraine conflict that began in 2022.

A Bank of America Securities report said demand for ecommerce and internet services in India remains resilient, with Myntra widening its lead in fashion and Flipkart continuing to rank first for user engagement. The brokerage reiterated “Buy” ratings on MakeMyTrip, Eternal, Swiggy, Delhivery and Paytm, citing factors including easing geopolitical tensions, lower energy prices, steady FMCG and value-commerce shipment volumes, and no slowdown seen at third-party logistics providers. The report said it did not identify any direct drivers tied to traditional commodities, equity indices or foreign exchange assets.

6月18日，受美联储6月议息会议释放鹰派信号影响，白银期货大幅下挫。印度MCX白银7月合约跌3.5%至24.299万卢比/千克；COMEX白银7月合约跌3.34%至68.40美元/盎司。美联储维持利率不变，但9名FOMC委员预计年内仍会加息，强化‘higher-for-longer’预期，压制贵金属表现。