Gold prices edged lower on Wednesday as caution prevailed ahead of the U.S. consumer price inflation report that could provide more clarity on the Federal Reserve's interest rate trajectory.As the peak holiday shopping season approaches, most U.S. consumers have a downbeat outlook on the economy, according to an annual Deloitte survey published on Wednesday.Most consumers surveyed — 57% — said they expect the economy to weaken in the year ahead, the consulting firm found in a poll of roughly 4,000 responden ...

Market Overview - The benchmark indices, BSE Sensex and NSE Nifty, experienced declines, with Sensex dropping by 118.96 points (0.15%) to 81,785.74 and Nifty falling by 44.80 points (0.18%) to 25,069.20, ending their respective rallies [3][10] - The trading session was characterized by volatility and profit-taking, particularly in IT and auto sectors, as investors remained cautious ahead of the US Federal Reserve policy meeting [1][4][5] Sector Performance - Major laggards among Sensex firms included Mahindra & Mahindra, Asian Paints, Infosys, Titan, Sun Pharma, Tata Consultancy Services, Tech Mahindra, and Power Grid [4] - Conversely, gainers included Bajaj Finance, Eternal, UltraTech Cement, and Reliance Industries [4] - The BSE Focused IT index saw the largest drop of 0.63%, followed by IT (0.60%), consumer durables (0.50%), teck (0.45%), and auto (0.32%) [9] Investor Sentiment - Investors are adopting a cautious stance, awaiting guidance on future interest rate trajectories from the Fed, despite a 25-bps rate cut being largely anticipated [7][10] - Strong domestic consumption is supporting market sentiment, alongside optimism regarding trade deals and expected earnings recovery in H2FY26 [7] Broader Market Trends - Broader markets showed positive movement, with the Smallcap index climbing 0.66% and the Midcap index gaining 0.40% [8] - Realty sector surged by 2.47%, while capital goods, industrials, telecommunication, and power sectors also advanced [9] Global Market Context - In Asian markets, South Korea's Kospi and Hong Kong's Hang Seng closed positively, while Shanghai's SSE Composite index declined [11] - Global oil benchmark Brent crude increased by 0.48% to $67.31 per barrel [11]