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Gold braces for volatile week as Middle East tensions escalate: Analysts | India Business News – The Times of India
After witnessing sharp swings last week, gold prices are expected to remain volatile in the coming days as investors track escalating tensions in the Middle East and key global economic data releases, analysts said on Sunday.Market participants are likely to track developments in the conflict involving Israel and Iran, as any escalation could support safe-haven demand for bullion, while signs of easing tensions may trigger sharp profit booking in the market.“Focus will again be on developments in the Middle East. Any further escalation could be positive for gold prices, but signs of de-escalation may lead to sharp selling,” Pranav Mer, vice president, Commodity and Currency Research at JM Financial Services, told the news agency PTI.Silver is also witnessing heightened volatility, though it is currently in a consolidation phase, analysts noted.“Silver is trading with high volatility but remains capped due to consolidative movements in gold and industrial metals such as copper and zinc,” Mer added.In the domestic market, bullion futures saw sharp swings during the past week. On the Multi Commodity Exchange (MCX), silver plunged by Rs 14,359, or 5.08 per cent, while gold slipped Rs 470, or 0.3 per cent.According to Prathamesh Mallya, deputy vice president, Research (Non-Agri Commodities and Currencies) at Angel One, gold traded within a broad range of Rs 1.59 lakh to Rs 1.70 lakh per 10 grams last week.Geopolitical tensions, strong demand from Asian markets, continued purchases by central banks, elevated US Treasury yields and a firm US dollar are among the key factors currently shaping bullion prices, he said.Globally, silver futures on Comex dropped by USD 8.98, nearly 10 per cent, during the week, while gold prices declined by USD 89.2, or 1.7 per cent.Analysts noted that gold ended the week in negative territory as investors shifted towards alternative safe-haven assets such as the US dollar, Swiss franc and government bonds, even as ongoing geopolitical tensions helped limit deeper losses.Investors will also monitor key economic indicators in the coming week, including inflation and trade data from China, inflation readings from the US, Germany and India, as well as US consumer sentiment and the Personal Consumption Expenditures (PCE) price index, which could influence global growth expectations and monetary policy outlook.
It is unusual for a senior figure at the Bank to be so forthright on market movements.
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People walk past a Nike store in New York City, on April 2, 2025.
Kylie Cooper | Reuters
Nike announced a new round of layoffs Thursday affecting approximately 1,400 employees across the organization, mostly concentrated in its technology department.
In a note from COO Venkatesh Alagirisamy, the company said the layoffs were part of Nike’s broader “Win Now” turnaround strategy aiming to reshape its technology team, modernize its Air manufacturing, move some of its Converse Footwear operations and integrate its materials supply chain work into its footwear and apparel supply chain teams.
“Collectively, these changes will result in a reduction of approximately 1,400 roles in global operations, with the majority in technology,” Alagirisamy wrote. “These reductions are very hard for the teammates directly affected and for the teams around them, too.”
A Nike spokesperson said the layoffs are about better positioning the organization for the current pace of sports and accelerating its growth. The layoffs affect employees across North America, Asia and Europe and represent less than 2% of the company’s total global head count.
“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”
Affected employees will be notified beginning Thursday, Nike added.
CEO Elliott Hill has been working to turn Nike around after years of slumping sales. While Hill has made some initial progress, it’s come with some bumps in the road.
Nike announced 775 job cuts in January, primarily at its U.S.-based distribution centers, due to the company’s work in accelerating its use of automation. At the time, the company said the cuts are part of Nike’s goal to return to “long-term, profitable growth.”
Those layoffs came on top of a round of cuts last summer that affected less than 1% of Nike’s corporate staff as part of the company’s efforts to realign the business.
In its third fiscal quarter earnings report last month, the retailer warned that sales will continue to fall for the rest of the year, primarily led by an anticipated 20% decline in China during the current quarter.
— CNBC’s Jessica Golden contributed to this report.
A key reason for the layoffs is Meta’s increased spending in other areas of the company, including AI, for which it will this year spend $135bn (£100bn). This is roughly equal to the amount it has spent on AI in the previous three years combined, according to a person who viewed the memo.
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