Mumbai, June 11: Gold and silver prices traded lower on Thursday, with precious metals falling by up to 2 per cent amid escalating tensions in the West Asia conflict.

On the Multi Commodity Exchange (MCX), gold futures (August) declined as much as 1 per cent or Rs 1,573 to hit an intraday low of Rs 1,46,444 as of around 12 pm.

The yellow metal was trading at Rs 1,47,860, down 0.11 per cent or Rs 157. It touched an intraday high of Rs 1,48,089, up 0.04 per cent or Rs 72 from the previous close.

On the other hand, silver futures (July) were trading at Rs 2,34,500, down Rs 1,005 or 0.43 per cent.

The white metal touched an intraday low of Rs 2,30,493, declining 2.12 per cent during the session so far. It recorded an intraday high of Rs 2,35,402, down 0.04 per cent or Rs 103 from the previous close.

Earlier in the day, gold and silver opened at Rs 1,46,518 and Rs 2,31,671, respectively, on the MCX.

In international markets, precious metals also remained under pressure. COMEX silver was trading at $63.90, down over 1.29 per cent, while COMEX gold was trading 0.68 per cent lower at $4,105.30 per ounce.

According to commodity analysts, precious metals remained under pressure as investors assessed the latest developments in the West Asia conflict. Gold stabilised near multi-month lows after the US military confirmed the completion of its latest strikes on Iran, raising expectations that diplomatic negotiations could resume.

They said easing safe-haven demand, coupled with expectations that US interest rates could remain higher for longer, weighed on bullion prices. Higher interest rates reduce the appeal of non-yielding assets such as gold and silver.

Market participants also continued to monitor inflationary pressures stemming from rising energy prices and their potential impact on the US Federal Reserve’s policy path.

Meanwhile, crude oil prices surged sharply, with Brent crude rising over 2 per cent to trade near $95 per barrel, while US West Texas Intermediate (WTI) crude climbed 4 per cent to $93.64 per barrel.

Mumbai, June 10: Domestic equity markets traded higher on Wednesday in the morning session despite elevated geopolitical tensions and rising crude oil prices.

Sensex gained as much as 0.59 per cent or over 400 points to touch an intraday high of 74,356 in early trade, while the Nifty rose 0.46 per cent or about 100 points to 23,351.

Sectoral performance was largely positive, with FMCG stocks leading the gains. Nifty FMCG rose 1.5 per cent, followed by Nifty Chemicals (0.67 per cent), Nifty Oil & Gas (0.60 per cent) and Nifty Private Bank (0.50 per cent).

On the downside, metal stocks remained under pressure, with Nifty Metal declining more than 1 per cent. Nifty MidSmall IT & Telecom fell 0.62 per cent, while Auto, Media and PSU Bank indices traded marginally lower.

Among the Nifty 50 constituents, Hindalco Industries emerged as the top loser, shedding nearly 3 per cent. Eternal, Adani Enterprises, NTPC and Tata Motors Passenger Vehicles (TMPV) were among the other major laggards.

“While weak global cues and geopolitical tensions could keep markets volatile in the near term, technical indicators suggest signs of stabilisation after recent selling pressure. Nifty has strong support around 23,000-23,100, while 23,500-23,600 remains the immediate resistance zone. A decisive breakout on either side is likely to determine the market’s next directional move,” analysts said.

Investors and traders’ sentiment remained cautious amid escalating tensions in West Asia after the United States launched strikes on Iran, raising concerns about a broader regional conflict and its potential impact on global energy supplies.

On the commodities front, international benchmark Brent crude rose 0.75 per cent to around $93 per barrel, while US West Texas Intermediate (WTI) crude gained 0.88 per cent to nearly $90 per barrel.

In Asia, markets traded largely in the red. Japan’s Nikkei and Hong Kong’s Hang Seng declined more than 1 per cent each, while South Korea’s KOSPI plunged nearly 4 per cent.

Overnight, Wall Street ended lower, with the S&P 500 slipping 0.26 per cent and the Nasdaq Composite declining 0.97 per cent.

Mumbai, June 9: India has emerged as the second-largest single country contributor to global construction growth between 2020 and 2030, according to a new report released on Tuesday.

The report from Foundamental, a Berlin-based venture capital firm, said that India and China together account for nearly 40 per cent of global construction growth over the period.

Global capital expenditure is becoming increasingly concentrated in five countries: India, China, the United States, Germany and France, it said.

“India accounts for the second-largest share of global construction growth by volume between 2020 and 2030, at 14.1 per cent, behind only China at 26.1 per cent and ahead of the United States at 11.1 per cent,” said Shubhankar Bhattacharya, Co-Founder and General Partner at Foundamental.

Global construction spending reached $15.97 trillion in 2024 and is projected to grow to $19.86 trillion by 2028, a compound annual growth rate (CAGR) of 5.6 per cent.

Within that total, infrastructure is the fastest-growing major construction segment globally, expanding at a CAGR of 5.1 per cent between 2020 and 2025.

In India, the pace is markedly higher: the country’s infrastructure market is forecast to grow at around 8 per cent annually through the end of the decade, well above the global rate.

The report also notes that global gross fixed capital formation has grown roughly 30-fold since 1960, with that investment becoming increasingly concentrated among a handful of major economies.

“Global construction spending has already surpassed previous forecasts and is creating new opportunities across infrastructure, industrial facilities, energy systems, transportation networks and digital infrastructure,” said Bhattacharya.

The report forecasts the global data centre construction market will double by 2030 compared with 2018 levels, driven by artificial intelligence and cloud computing, making data centre infrastructure one of the fastest-growing construction segments through 2030. “Data centre construction could add between 10 per cent and 15 per cent to the global construction market by 2030,” said Bhattacharya.

The report said India is positioned to benefit from multiple long-term growth trends at once, including infrastructure expansion, industrial development, the energy transition, digital transformation and urbanisation.