2024-08-13 04:29:40 pm | Source: Kotak Securities Ltd
Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
Below the Quote on Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities
OPEC has reduced its 2024 oil demand growth forecast to 2.11 million barrels per day due to weaker expectations for China's recovery. In contrast, the IEA predicts a smaller growth of 970,000 barrels per day, highlighting a significant volatile outlook on oil. Meanwhile, gold prices decreased on Tuesday as investors took profits after a recent high, with attention turning to upcoming U.S. inflation data. The Cleveland Fed Inflation Expectations increased to 3.8%, indicating persistent inflation concerns.
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