**Global Market Brief: Thursday, January 29, 2026** **Equities: Mixed Signals & Caution** Global markets remain subdued as investors digest the Federal Reserve’s latest decision to hold interest rates steady. In the US, indices ended flat to slightly mixed. The **S&P 500** closed virtually unchanged at **6,978**, while the **Dow Jones Industrial Average** added a marginal **0.02%** to reach **49,016**. The tech-heavy **Nasdaq Composite** outperformed slightly, gaining **0.17%** to **23,857**, supported by resilience in major tech names ahead of earnings. In India, caution prevails ahead of the Union Budget. The **Sensex** dipped **0.24%** to **82,137** and the **Nifty 50** fell **0.25%** to **25,279** in early trade. Sectoral performance is split, with metals and PSU banks advancing, while IT and auto stocks face selling pressure. **Commodities: Gold & Silver at Record Highs** Safe-haven demand is driving a historic rally in precious metals, fueled by escalating geopolitical tensions in West Asia and a softer US dollar. **Gold** prices have surged to fresh records, trading above **$5,550** per ounce globally. In the domestic Indian market, prices have touched **₹1.67 Lakh** per 10 grams. **Silver** is mirroring this strength, climbing to all-time highs near **$119** per ounce. Meanwhile, **WTI Crude Oil** has ticked higher to **$63.52** per barrel, supported by supply concerns linked to the geopolitical unrest. **Crypto: Consolidation Continues** The cryptocurrency market is trading in a tight consolidation phase. **Bitcoin** is holding steady in the **$88,000 – $89,000** range, struggling to break decisive resistance but maintaining key support levels. **Ethereum** is hovering near the **$3,000** mark. Market participants appear to be in a "wait and see" mode, balancing optimism against macroeconomic uncertainties. **Economic Watch: Fed Decisions & Budget Focus** The Federal Reserve maintained its target rate range at **3.5% – 3.75%**, signaling a neutral stance as it balances inflation and employment data. Attention now shifts to the US **Initial Jobless Claims** report due later today, which will offer fresh insights into labor market health. In India, the spotlight is on the **Economic Survey 2025-26** being tabled in Parliament today, setting the stage for the upcoming Union Budget on February 1. Investors are closely monitoring these policy events for directional cues.