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FUNDAMENTALS * Spot gold fell 0.3% to $4,126.84 per ounce by 0102 GMT, while US gold futures for December delivery dropped 0.3% to $4,146.00. * Investor focus has shifted to the Fed's October 27-28 policy meeting and next week's US Personal Consumption Expenditures (PCE) data, a key gauge closely watched by the central bank as it targets 2% inflation. * The US central bank in September raised its benchmark overnight interest rates by 25 basis points to the 3.75%-4.00% range. * According to CME's FedWatch Tool, traders are pricing in an 83% chance that the central bank will leave rates largely unchanged next week, while expectations for a hike in December remain at 94%. * Bank of Japan Governor Kazuo Ueda said underlying inflation is "quite close" to the central bank's 2% target with strong global AI demand adding to inflationary pressure from a tight job market, signalling scope for further rate increases. * Higher interest rates typically weigh on gold prices because they increase the opportunity cost of holding bullion, which does not pay interest. * On the geopolitical front, Yemen's Iran-aligned Houthis said on Monday they carried out several attacks against Saudi energy, airport and military targets. * Among other metals, spot silver slid 0.7% to $56.69 per ounce, platinum steadied at $1,639.65 and palladium dropped 0.7% to $1,112.08. DATA/EVENTS (GMT) 0100 China Loan Prime Rate 1Y, 5Y, October 0600 UK Claimant Count Unem Chng, September 0600 UK ILO Unemployment Rate, August 0600 UK HMRC Payrolls Change, September 0900 Germany ZEW Economic Sentiment, October 0900 Germany ZEW current Conditions, October 1230 US Housing Starts Number, September (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
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