Gold rout, Japan inflation cools, India momentum fades | USAEMALL.com

Global markets opened Tuesday on uneven footing as macro pressures and sector-specific shifts shaped sentiment.

Gold extended a sharp sell-off amid a stronger dollar and rising yields, while Japan’s cooling inflation supported equities.

India showed signs of slowing growth momentum as external pressures mounted.

In corporate moves, Gilead advanced its diversification strategy with a multibillion-dollar immunology deal.

Gold selloff deepens further

Gold fell further on Tuesday, extending a brutal sell-off that has pushed the metal deeper into bear-market territory.

A firmer US dollar and rising Treasury yields hurt bullion’s appeal. The spot gold briefly dropped 2% before trimming losses to about 1% at $4,335.97 an ounce.

April gold futures were also lower at $4,358.80, while silver slid alongside the move.

Gold is now down more than 22% from its January record high after last week’s near-10% tumble, its sharpest weekly decline since 2011.

Japan inflation cools further

Japan’s inflation cooled in February, with headline consumer prices rising 1.3% from a year earlier.

This is the fourth straight monthly slowdown and the weakest reading since March 2022.

Core inflation, which strips out fresh food, eased to 1.6%, while a narrower gauge that excludes both fresh food and energy edged down to 2.5% from 2.6%.

The softer data comes as Tokyo leans on food-price stability and energy subsidies to cushion households.

The Bank of Japan has previously warned that the higher oil prices linked to Middle East tensions could reignite inflation.

Japanese stocks rose after the release, with the Nikkei 225 gaining more than 2%.

India’s growth momentum slows

India’s private-sector activity slowed sharply in March, with HSBC’s flash composite PMI falling to 56.5 from 58.9 in February.

The survey showed softer domestic demand for goods and services, even as export orders logged their strongest increase.

The pullback comes as the economy grapples with the fallout from the Middle East conflict. The war has pushed up oil prices and added pressure on the rupee.

While a reading above 50 still signals expansion, the March data points to a clear loss of momentum at the end of the fiscal year.

Gilead expands into immunology

Gilead Sciences said it will buy privately held Ouro Medicines in a deal worth up to $2.18 billion.

The move is seen as an expansion into treatments for immune disorders.

The transaction includes about $1.675 billion in upfront cash and as much as $500 million in milestone payments tied to development progress.

The acquisition gives Gilead access to Ouro’s lead experimental therapy, OM336, an early-stage antibody drug being studied for autoimmune conditions.

The move comes as Gilead looks beyond its core HIV business for growth, after agreeing last month to buy partner Arcellx in a larger cancer-focused deal.