Overview
- Spot gold traded near $3,990 on Tuesday after fresh declines in early dealing kept prices under the $4,000 threshold.
- A firmer U.S. dollar near a three‑month high and cautious remarks from Fed officials, including Governor Lisa Cook, reduced odds of a December rate cut.
- Beijing ended a value‑added tax offset for certain gold retailers, a policy shift expected to cool Chinese consumer demand.
- In India, December MCX gold futures slipped to about ₹1,20,573 per 10 grams on Tuesday after range‑bound trade a day earlier, with city‑level prices fluctuating.
- Regional markets remained jumpy, with Pakistan’s per‑tola prices swinging by thousands of rupees over consecutive sessions, while silver hovered around $48 and eased.