Gold surged to new highs on Friday, extending weekly gains, as U.S. inflation data aligned with forecasts, bolstering expectations for Federal Reserve interest rate cuts later this year. Investors now anticipate an 88% chance of an October rate cut.
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Following an eight-week losing streak in the Nifty, its first such run since 2001, domestic brokerage PL Capital remains cautious on the near-term market outlook.
October 17, 2026