Gold (XAU/USD) price retreats about 0.10%, trading at $4,163 on Friday, poised for a weekly loss as traders assess recent US inflation data, which, although hotter than foreseen, led investors to trim their hawkish bets for the Federal Open Market Committee (FOMC) October meeting.
West Texas Intermediate (WTI) declines after four days of gains, trading around $93.20 per barrel during European hours on Wednesday.
MUFG’s Michael Wan explains that recent RBI FX measures have supported spot Indian Rupee, while temporarily disrupting derivatives liquidity. Offshore INR forward premiums fell sharply after restrictions on non-resident NDF access and higher hedge costs. These actions reduced speculative Dollar demand and helped INR rally, though at the expense of wider bid-ask spreads and less liquid onshore forwards.