According to the WGC, festival gold buying was strong in both urban and rural areas. While official data isn't in, there is an indication that there was record buying in rupee terms.
Inflation is winning the battle against businesses and consumers as the Fed’s fight against inflation hits them more aggressively than it is hitting inflation.
Powell will likely aim to keep 10YR Treasury yields below 5%, even at the expense of fighting inflation, while investors will strive to boost their abstract hopes.
The dollar will be very strong, but not in a good way since debtors will have to make payments unto death in hard currency. It is only a question of when.
