Globally, Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand.Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel, while U.S. crude rose 21 cents to $81.22 per barrel, a 0.3% gain. Both benchmarks had gained more than 1% on Thursday. Natural gas futures fell for a third day in a row on Thursday but the drop of 2% on the day — versus the intraday plunge of almost 8% to new 21-month lows — indicated that the market may be closer to finding a bottom to its worst selloff in years.The benchmark gas futures contract had earlier plunged to $2.688, its lowest since April 2021.Asian stocks rose on Friday and were poised for their fifth straight week of gains after a set of data highlighted a resilient U.S. economy, lifting investor sentiment ahead of next week's slate of central bank monetary policy meetings.Wall Street closes green as GDP data eases recession worries.All three major U.S. stock indexes advanced.The U.S. dollar dropped against the yen on Friday as traders bet a hawkish pivot from the Bank of Japan (BOJ) was still in the offing. The dollar also sagged close to a nine-month low versus the euro, amid market expectations the European Central Bank next week will implement a rate hike twice as big as the Federal Reserve's.Gold prices moved little on Friday as metal markets hunkered down before the release of the Federal Reserve’s preferred inflation gauge.Spot gold steadied at $1,929.82 an ounce.Other precious metals also rose on Friday after logging steep declines in the prior session. Platinum futures were up 0.2%, while silver futures rose 0.3%.High-grade copper futures fell 0.3% to $4.2713 a pound, but were set to add 0.7% this week. Rupee recovered from some of its losses after a steep fall from two and half month high levels. Domestic currency may look for further direction after the Federal Budget due to be announced on 1st Feb.
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