Overview
- Spot bullion rose 0.3% to $4,034 per ounce by 01:09 GMT and is on course for a third straight monthly gain of about 4.5%, while December futures slipped 1.1% to $3,955.
- Global demand reached 1,313 tonnes in the third quarter, the highest quarterly level on record, with bullion and coin purchases up 17% and ETF inflows up 134%, according to the World Gold Council.
- Central banks bought an estimated 219.9 tonnes in Q3 and 634 tonnes year to date through September, remaining well above pre‑2022 buying levels.
- The Federal Reserve delivered a second 25‑basis‑point cut this year to a 3.75%–4.00% range, and CME FedWatch now shows a 74.8% probability of a December cut after Chair Jerome Powell’s remarks, as the dollar trades near a three‑month high.
- President Donald Trump and President Xi Jinping agreed to a temporary tariff truce with reported tariff reductions and resumed Chinese purchases, while China’s official manufacturing PMI fell to 49 in October, marking a seventh consecutive month of contraction.