Gold is up more than 2.2% in July, putting it on track for its first monthly gain in nearly five months. Spot gold was at $4,096.29 an ounce, while US gold futures inched up to $4,094.10 and COMEX gold futures stood at $4,144.40. COMEX silver futures slipped 0.22% to $58.89. Prices have been supported by escalating West Asia tensions and a cooling in expectations for a US rate hike, with the implied probability of a September move falling from about 80% to 63%.

Corporate India recorded its fastest year-on-year revenue growth in 15 quarters in the June quarter of 2024, even as total costs rose 18% year on year, the strongest increase in 14 quarters, pointing to firmer domestic-demand-led activity. Companies in manufacturing, infrastructure and discretionary consumption broadly outperformed peers, while sectors hit by weaker global demand or cost pressures saw mixed results. The figures suggest strengthening structural domestic growth momentum, which is viewed as supportive for India’s macro outlook and related traditional assets.

South Korea’s Kospi index surged 15.3% on Friday to 6,447.10, marking one of its biggest one-day gains on record. The rally was driven by a rebound in U.S. AI chip-linked stocks, including Micron Technology, up 18.36%, and Lam Research, up 17.98%. In Seoul, Samsung Electronics rose 21.5% and SK Hynix climbed 25.6%. The move was attributed to an “AI-related stock rebound” and a rise tracking Wall Street’s gains.

Manipal Health Enterprises’ IPO entered its third day with overall subscription at 45% as of 5 pm on July 30. Qualified Institutional Buyers subscribed 60%, retail investors 45%, while the Non-Institutional Investor segment trailed at 14%. At the upper price band of ₹590, the grey market premium points to an estimated listing gain of about 1.02%. The promoters’ stake is set to fall to 61.84% from 69.87%, and the company plans to use proceeds to buy the remaining stake in Sahyadri Hospitals and repay debt.

Valero, HF Sinclair and PBF Energy reported sharp profit gains in the second quarter of 2025, led by Valero’s $3.7 billion net income, HF Sinclair’s $892 million, and PBF’s swing to more than $1 billion in profit from a loss. PBF processed nearly 890,000 barrels of crude per day in the quarter and expects runs to rise to as much as 960,000 barrels per day next quarter. The results reflect a global fuel supply squeeze that has pushed refining margins sharply higher and tightened product markets.

Australia will end its fuel excise cut from Sunday, lifting the tax on petrol by 16 cents per litre. The move is expected to add about A$9 to a 50-litre fill or roughly A$11 to a 65-litre tank. The temporary tax break had been extended by a month after it was due to end on July 1, amid volatile global oil prices linked to the continuing Middle East war.

The Central Bank of Nigeria sold N700bn of treasury bills across 91-day, 182-day and 364-day tenors, drawing total subscriptions of N3.62tn, an oversubscription of 5.17 times. The stop rate on the 364-day bill fell to 17.35% from the prior auction, down 31 basis points. Stop rates on the 91-day and 182-day bills were unchanged at 16.30% and 16.50%. The auction underscored strong local money-market demand for short-term government securities and is a key operation in Nigeria’s monetary policy implementation.

Parex Resources (TSX: PXT) reported second-quarter 2026 results, including adjusted EBITDA of C$192 million. An independent reserves report showed proved developed producing (PDP) and 1P reserves rose by more than 80% versus year-end 2025. The company reaffirmed its 2026 “StepChange” production and financial guidance and declared a regular Q3 2026 dividend of C$0.385 per share.