International gold prices fell more than 1% on Thursday, with spot gold at $4,349.32 an ounce and US gold futures settling at $4,391.30. Hotter inflation signals from the US, alongside rising oil prices, reinforced expectations that the Federal Reserve will keep policy tighter. Traders now see a 70% chance of a Fed rate hike next week, up from 62% before the data, according to the CME FedWatch Tool. Other precious metals also declined, with silver down 4.2%, platinum down 4.9% and palladium down 4.3%.

Tata Sons chairman N. Chandrasekaran said he will not seek a third term, with his tenure set to end on February 20, 2026. Following the announcement, Tata group stocks fell as much as 5%, with TCS closing 4.5% lower while Tata Motors CV rose 2%. During his tenure, group revenue climbed to Rs 16.24 trillion and net income rose 52%.

Cotton yarn prices in India were raised, with 20s combed yarn up Rs 5 per kg to Rs 309. Cotton prices also increased to Rs 68,000 per candy from Rs 63,000 on June 1, helping lift yarn costs. Industry representatives said renewed tensions in West Asia pushed international cotton to Rs 72,000 per candy, driving domestic cotton to Rs 68,000–70,000 per candy and adding pressure on yarn prices. Yarn has risen by Rs 10 per kg this month, and industry sources expect a further increase of up to Rs 7 per kg next week.

Oil prices extended gains amid continued attacks between the United States and Iran, lifting Brent to $92.05 a barrel and U.S. WTI to $85.19. Asian equity markets were mixed, with Japan’s Nikkei 225 up 1.9% and South Korea’s Kospi up 4.6% while Hong Kong’s Hang Seng slipped 0.7%. Analysts said Japan faces twin imported inflation pressures as a weaker yen coincides with higher crude prices. On Wall Street, all three major indexes rose, led by AI chipmakers.

Global gold prices fell sharply in the week of July 13–18, 2026, with spot gold down about 2–3% for its biggest weekly loss in more than a month. Comex Gold for July delivery settled at $4012.70 per troy ounce, down 2.23% on the week. Expectations that the Federal Reserve will keep interest rates higher for longer, alongside rising U.S. Treasury yields and a stronger dollar, weighed on the appeal of non-yielding gold. Despite escalating Middle East tensions, safe-haven buying did not materially offset the pressure.

The US Senate has introduced the “Lindsey O. Graham Sanctioning Russia Act of 2026,” proposing 100% tariffs on India, China, Slovakia, Hungary and Azerbaijan for importing Russian crude oil or natural gas, aiming to curb funding for Russia’s war. The proposal includes a 180-day review mechanism to update the targeted-country list and adjust tariff rates. It would exempt certain European countries that meet specified conditions. If passed, the measure would directly affect trade flows of major buyers of Russian oil and could reshape expectations around global crude supply rebalancing while also influencing gas-to-oil substitution dynamics and LNG demand.

Stocks fell in early trading on Wednesday as renewed US-Iran tensions pushed Brent crude up 2.55% to USD 76.05 a barrel. India’s Sensex and Nifty dropped sharply, while Japan’s Nikkei 225 and South Korea’s KOSPI also moved lower. The report cited moves in assets including 1OILBRENT, Nikkei and KR200, but did not provide a formal code for the BSE Sensex (often represented as “BE” in some YAML conventions).

Gold and silver posted steep pullbacks in Q1, with gold down 12% for its worst quarterly showing in 13 years and silver down 18% for its weakest in four years. On June 30, COMEX gold was 28% below its January peak, while silver was down 59.5%. Analysts attributed the slide to a stronger dollar—after the dollar index broke above 102 to a 13-month high—alongside increasingly hawkish signals from the Federal Reserve. Gold was steady at $4047 an ounce, while silver edged down to $59 an ounce.

India should diversify its crude import routes, expand strategic reserves and cut reliance on Gulf suppliers to better withstand future disruptions, according to an S&P Global report. The report said recent Middle East tensions raised risks to shipping through the Strait of Hormuz, affecting an estimated 15 million barrels per day of global oil flows. It added that Indian refiners have lost around 20% of pre-conflict Middle East crude supplies and are accelerating purchases from alternatives including Russia, the US, Brazil and Nigeria. India’s crude processing fell to about 5.23 million bpd in April 2026, down 5.8% from March.