Commodities
Indian Stock Market Shuts Down Amid Ongoing Global Volatility
The Indian stock market closed today due to the Ganesh Chaturthi holiday. The BSE and NSE are shut for trading in equity, derivatives, and securities lending and borrowing.
This three-day break comes at a critical time for global markets. Oil prices have risen by more than $3 after fresh strikes involving Saudi Arabia and the Strait of Hormuz.
Gold is also likely to remain volatile as investors watch crude prices, the dollar, the US-Iran conflict, and the US Federal Reserve's next rate decision.
The Fed meeting is scheduled for September 15 and 16. Investors are expecting higher interest rates to remain in place, which could make gold less attractive.