The dollar weakened against major currencies on Friday as markets scaled back expectations for further Federal Reserve rate hikes, a shift shaped by recent economic data and lower oil prices. Even so, the greenback was still set to end the week higher and log its strongest monthly performance since July 2025. Inflation gauges came in as forecast, while falling energy costs helped slow the pace of expected European Central Bank tightening even as the Fed was still seen raising rates.

India’s MCX gold price fell Rs 15,000 per 10 grams (-9.73%) from June 1 to June 2026, while silver dropped nearly Rs 45,000 per kg (-17%). The decline has been linked to a more hawkish Federal Reserve stance, a stronger U.S. dollar and unwinding in yen carry trades. Analysts said gold has retreated 29% from its January peak and silver more than 50%, creating levels they view as suitable for staged, long-term accumulation.

SpaceX is scheduled to be formally added to the Russell U.S. indexes after Friday’s close, triggering about $3 billion of mandatory buying by passive index funds. Most of the rebalancing is expected to be executed in the closing auction, concentrating demand into a short window and potentially creating a brief squeeze. The company is valued at 107 times its 2025 sales, far above peers such as Nvidia, and it is also slated to join the Nasdaq 100 in July, expanding index-driven demand further.

Kobo Biotech reported a wider FY25 net loss of ₹5.23 crore and recorded no revenue from operations. The company entered the Corporate Insolvency Resolution Process (CIRP) on August 13, 2024, after a prolonged production shutdown and financial stress. On May 11, 2026, the NCLT Hyderabad Bench approved Beaufond Industries’ resolution plan. Under the plan, existing shareholders will be heavily diluted to 2%, with financial and governance control fully transferred.

Gold extended its slide for a fourth straight week, with spot prices falling to $4,007.95 an ounce and nearing the $4,000 level, a multi-year low. Markets have priced in at least three Federal Reserve rate hikes this year, with a 64% probability of a September increase, after U.S. May inflation rose above 4%. Silver, platinum and palladium also fell and were on track for weekly declines. The report also said gold is down nearly 29% from its January peak, with analysts citing a long-term target of $3,400.

Weekly inflows into global equity funds fell to $7.51 billion, down about 86% from the prior week. Technology sector funds flipped to net outflows of $17.83 billion after taking in $21.5 billion a week earlier. May PCE inflation rose to 4.1% year on year, the highest since April 2023, reinforcing expectations of a possible 25-basis-point Fed hike later this year. Gold and other precious metal funds posted a sixth straight weekly outflow, with net sales of $545 million.

Global equity funds saw net inflows of $7.51 billion last week, sharply lower than the previous period. U.S. equity funds posted outflows, while the technology sector recorded net outflows of $17.83 billion. Concerns that tech companies are relying too heavily on debt-fueled expansion, alongside a hawkish U.S. Federal Reserve, curbed risk appetite. Bond funds extended their streak to a 12th straight week of net inflows, while money market funds logged their largest weekly withdrawal since April 15.

Nasdaq futures fell 0.6% as a global tech selloff accelerated, with investors rattled by a report that OpenAI is considering delaying its IPO. Asian AI-related stocks sank, prompting South Korean regulators to halt trading for the second time this week, while names including SK Hynix, Samsung and SoftBank slid sharply. Oil prices retreated as shipping continued through the Strait of Hormuz, sending Brent down 2% to $74.03 a barrel and WTI down 2.1% to $70.38 a barrel.