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​​​​Gold is known as a safe investment amid inflation woes, but high interest rates increase the opportunity cost of holding non-yielding bullion. Physical gold demand picked up in India as domestic prices fell ahead of key festivals, while premiums in China climbed further as its currency weakened.

That risk saw two-year Treasury yields surge 30 basis points last week alone to reach the highest since 2007 at 3.92%, so making stocks look more expensive in comparison and dragging the S&P 500 down almost 5% for the week.

The latest bottleneck stems from unresolved negotiations between its management and engine makers on more favourable terms in its proposed leasing contracts, people in the know said.

Bitcoin (BTC) has dropped by more than 6 per cent this week and has failed to hold support at $22,000 after successfully breaching $22,600 mid-week. BTC continues to consolidate in the range of $19,400-20.100 which has held as support for months now. If stocks recover their losses next week, there is a likelihood of BTC gaining back $22,000.

The crucial US Federal Reserve meeting is slated for September 21. According to reports, there is a high chance that the Fed shall yet again hike rates by a steep 75 bps as has been done in the past two monetary decisions.

According to the Coinmarketcap data, while the global crypto market-cap has inched higher by 0.76 per cent over the previous day to $972.06 billion, the volumes in the market have softened by close to 26 per cent during the same period to $48.00 billion.

The recent inflation data unexpectedly beat market expectations and renewed fears that the markets could witness a hefty rate hike in September has also been pressurizing markets.At present, markets have already priced in a 75-bps hike in interest rate in September, while 24 per cent of participants expect a 100-bps hike next week.

India has handled its macro situation quite credibly over the last few quarters in an era when the global disruption due to inflation, geopolitical conflicts, supply disruption, and interest rate rises have impacted economies across the globe.This is evident from its currency, inflation rate, and interest rates which have been resilient compared to other competing economies or even some developed economies.

The group of seven nations – the US, Japan, Germany, Britain, France, Italy, and Canada - and the European Union are working to set a price cap on Russian oil. The expected price range would be about USD 40-60 a barrel. This is to limit Russia’s ability to fund its military action on Ukraine.

While Reliance Industries, TCS, HDFC Bank, Hindustan Unilever, Infosys and HDFC suffered erosion from their valuation, ICICI Bank, State Bank of India, Adani Transmission and Bajaj Finance were the gainers.