Overview
- Spot gold hovered near $4,015–$4,039 on Tuesday, marking a fourth straight decline and roughly a 3–4% drop over recent sessions.
- A firmer dollar and hawkish Federal Reserve remarks, including Vice Chair Philip Jefferson’s call to proceed slowly on easing, pushed December cut odds down to roughly 42–46%.
- Markets are focused on the rescheduled US calendar, with the Fed’s minutes due Wednesday and the September nonfarm payrolls report on Thursday, plus remarks from Fed officials.
- Despite the pullback, bullion remains up about 50–55% year to date and on track for its strongest annual gain since 1979, supported by sustained central‑bank buying as ETF flows fluctuate, with SPDR holdings slipping late last week.
- In India, the IBJA benchmark was around ₹1,21,366 per 10g as MCX gold futures fell toward ₹1,21,100–₹1,21,200; silver eased to about $50 per ounce, with domestic futures near ₹1.52 lakh per kg after a multi‑day drop.