Mon Nov 04 15:45:26 UTC 2024: ## Global Markets Mixed, Gold Hits Record High as Uncertainty Reigns

**New Delhi, India** – Global markets saw a mixed performance overnight, with the Nasdaq hitting record highs and the S&P 500 rising, while the Dow dipped slightly. The busy earnings season continues in the US, with several major companies releasing their financial results this week.

The US economy showed mixed signals, with job openings falling to their lowest since 2021, attributed to hurricane disruption in the south. However, consumer confidence rose to a nine-month high. These factors will be closely watched ahead of the Federal Reserve’s meeting next week.

In the Asia Pacific region, markets opened with mixed results, with the Nikkei 225 showing gains.

**Oil Prices Fall as OPEC+ Plans Increase Output**

Brent crude prices fell further, hovering just below $71 per barrel, driven by anticipation of increased production by OPEC+ and a reduction in risk premium associated with the ongoing war in West Asia.

**Gold Reaches All-Time High Amidst Uncertainty**

International gold prices soared to record highs overnight and remained elevated, pushing close to $2,800 per troy ounce. The surge is attributed to safe haven demand amid rising uncertainty ahead of the US presidential election and ongoing geopolitical tensions. In India, the price of gold reached nearly ₹80,000 per 10 grams, causing a 10% decline in Dhanteras gold sales year-on-year, according to the All India Gem And Jewellery Domestic Council.

**Bharti Airtel Eyes Further Tariff Hike**

Bharti Airtel’s Managing Director, Gopal Vittal, indicated the company is considering further tariff hikes in the future, citing a low return on capital employed. The company implemented a tariff hike in July, raising prices by approximately 70 paisa per day.

**Marico Ltd. Reports Strong Q2 Profits**

Marico Ltd. reported a strong second quarter performance, with consolidated net profit jumping 20% year-on-year, exceeding analysts’ expectations. Revenue grew 8% to ₹2,664 crore, in line with estimates.

**Gujarat Journalist Faces Mounting Trouble**

Gujarat-based journalist Mahesh Langa, arrested earlier this month in connection with a GST fraud case, is facing further legal challenges. He has been booked in a case of unauthorized possession of official documents and named in a third FIR related to an alleged ₹28 lakh fraud. The Enforcement Directorate has also launched a probe into the matter.

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