loading
loading
Fundamentals Spot gold was down 0.1% at $4,013.70 per ounce by 0045 GMT, while US gold futures for December delivery dropped 0.3% to $4,027.10. A firmer dollar reduces the appeal of dollar-priced bullion for overseas buyers. Federal Reserve policymakers have telegraphed they will not raise US short-term borrowing costs again this week, but with inflation concerns still front and center, investors believe a rate-hike pause will not last for long. Markets await the Fed's policy decision on Wednesday along with the Personal Consumption Expenditures data on Thursday, a key gauge closely watched by the central bank as it targets a 2% inflation rate. Traders are pricing in about an 11% chance of a rate hike this week and an 82% chance of a December increase, according to the CME's FedWatch Tool. While gold is often seen as a hedge against inflation, higher interest rates tend to reduce the appeal of non-yielding bullion. On the geopolitical front, the Saudi-led coalition in Yemen said it intercepted and destroyed three ballistic missiles launched by Yemen's Houthis towards Saudi Arabia's Eastern Region early on Tuesday. Separately, top officials from Saudi Arabia, Turkey and Pakistan met Iranian officials in Tehran on Monday in a bid to de-escalate the Middle East conflict. In other metals markets, Russia's Nornickel, the world's largest palladium producer, said a planned furnace overhaul could reduce output of key metals in 2027-2028. Spot silver edged 0.1% higher to $53.97 per ounce, platinum steadied at $1,527.81 and palladium slid 0.7% to $1,042.43. Data/Events (Gmt) 1230 US Durable Goods, September 1400 US Consumer Confidence, October (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-10-27 02:57