Overview
- The Federal Reserve cut rates by 25 basis points, and Chair Jerome Powell signaled a December reduction is not assured, keeping the policy outlook uncertain.
- International spot gold traded near $3,938 per ounce after a late-October pullback from last week's record above $4,380.
- On India's MCX, December gold futures fell about 1.5% to roughly Rs 1,18,900 per 10 grams, slipping below the Rs 1,20,000 mark after the Fed decision.
- Indian city prices hovered around Rs 1.20–1.21 lakh per 10 grams, with Chennai quoted near Rs 1,21,170 following sharp local swings.
- In Pakistan, APGJSA data showed 24K gold at Rs 419,862 per tola after a Rs 3,500 jump, while silver rose locally even as MCX silver opened lower.