U.S. stocks closed higher Friday, with the S&P 500 and Nasdaq Composite each posting its biggest weekly jump since November ahead of the Federal Reserve’s policy meeting.

Gold prices powered higher on Friday, beating record levels, as a boost in bullish momentum fuelled by optimism that the U.S. Federal Reserve is on the brink of trimming interest rates was catalysed by fund inflows and a drop in the dollar. U.S. gold futures rallied 1% to $2605

U.S. consumer sentiment rose to a four-month high in September amid expectations that inflation will continue moderating over the next year and household incomes improve, but views on the labor market weakened against the backdrop of slower job gains.

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A gauge of Asian stocks struggled to find direction on Monday as traders weighed the extent of slack in China’s economy after worse-than-expected activity data landed over the weekend. Markets in mainland China and South Korea are closed Monday for the Mid-Autumn festival. Japan markets are closed for the Respect for the Aged Day.

After opening 42 points higher, Nifty remained in a narrow range of 100 odd points for the entire session on Sept 13 and finally ended at 25356 with a minor loss of 32 points of 0.13%. Short term trend of the Nifty remains bullish. Resistance for the Nifty is now seen at 25527, which is derived from Fibonacci extension levels. On the lower side, 24885 is expected to act as a support for the Nifty in the near term.

Indian markets could open mildly higher, in line with mixed Asian markets today and positive US markets on Sept 13.