Commodity

Spot gold climbed 1.4% to $4,190.49 and was on track for a weekly gain of about 1.2% as bargain buying emerged after prices hit a two-month low. A Stone X analyst said the $4,000 area is building a floor. US gold futures for December delivery also rose 1.4% to $4,215.60. Markets are pricing an 84% probability of at least one rate hike by December, while spot silver gained 2.6%.

The World Meteorological Organization has warned that a severe rainfall deficit in India in 2026 could lower sucrose content in sugarcane, reduce the effective harvested area and curb overall output, with a near-100% chance that El Nino conditions persist through February 2027. Indian authorities say speculation and hoarding in parts of the trade have also contributed to a recent rise in retail sugar prices.

India-listed gold ETFs saw net inflows of $496.2 million in September 2026, nearly double the $256.20 million recorded in August, and added 3.12 tonnes of gold. Total inflows for the July–September quarter reached $889.40 million, while year-to-date inflows in 2026 rose to $4.71 billion. The World Gold Council said a pullback in domestic equities, dip buying and stronger demand for portfolio diversification helped drive the inflows.

Delta Air Lines raised its expected 2026 fuel-cost increase by US$2billion to US$6billion after the Iran war pushed jet-fuel prices higher worldwide. The carrier cut its adjusted annual earnings forecast to US$5.10 to US$5.60 a share from US$6.50 to US$7.50. Third-quarter fuel expense jumped 62 per cent year on year to US$4.1billion, more than US$500million above its July forecast.

Spot gold rose 1.3% to $4,186.04 per ounce on Friday, hitting a one-week high and posting a weekly gain of about 1%. US gold futures for December delivery also gained 1.3% to $4,211.20. Falling oil prices eased inflation worries and pressure on US Treasuries, as traders weighed the odds of further Federal Reserve rate hikes.

Brent crude fell 1.3% on Friday after Donald Trump said the US would not attack Iran before the US midterm elections and as China restarted fuel exports. European equities traded higher, with the FTSE 100 up 0.8%, France’s CAC 40 up 0.77% and Germany’s DAX up 1.07%. US stock index futures pointed to a firmer open on Wall Street.

Gold prices ticked higher on Friday as investors weighed inflation risks and the Federal Reserve’s potential rate-hike path. Spot gold rose 0.3% to $4,147.77 an ounce, while U.S. December gold futures gained 0.4% to $4,172.70. St. Louis Fed President Alberto Musalem signaled further rate increases may be needed to bring inflation back to the 2% target. Traders see an 18% chance of a hike in October and an 81% probability of an increase in December.

Major supermarket coffee brands have quietly adjusted their marketing as arabica bean prices climbed to almost 50-year highs. Some labels have shifted from “100% arabica” to “coffee” or to blends that include robusta. Retail prices have also risen sharply, with one organic freeze-dried coffee increasing from $4 per 100 grams to $8.

PepsiCo said it will raise prices on some snack and beverage products after its third-quarter results fell short of expectations, with beverage volumes down 2% and snack volumes flat. The move reverses a price-cut push launched in February to appeal to consumers strained by inflation.

Chicago Board of Trade soybean futures fell 0.9% on Thursday to $12.865 per bushel, while corn and wheat also moved lower. Attention has centered on the limited confirmation of Chinese soybean purchases after the U.S.-China summit, dimming expectations for a rebound in demand. Export sales data for the 2026-27 marketing year failed to provide support, keeping pressure on soybeans and the broader grains complex.