Overview
- Spot gold traded near $4,006 and December futures around $4,018 per ounce early Friday, leaving bullion on track for a third straight monthly gain.
- Market odds of a December 25-basis-point cut fell to 74.8% from 91.1% a week earlier, according to CME FedWatch.
- The Federal Reserve lowered rates by 25 basis points this week to 3.75%–4.00%, and Chair Jerome Powell signaled that another move in December is not assured.
- Analysts said comments about a tariff-trimming understanding between President Trump and President Xi reduced safe-haven interest in gold.
- In India, MCX December gold futures fell by Rs 218 to Rs 1,21,290 per 10 grams as domestic prices followed global cues.