Gold nears $4000 milestone amid economic uncertainty

Gold prices slipped below $3970 per ounce on Tuesday after briefly crossing the $4000 mark, supported by economic uncertainty and expectations of further US rate cuts. The yellow metal has surged over 50% this year, driven by a weaker dollar, steady ETF inflows, and rising central bank purchases. The prolonged US government shutdown has deprived investors of key data and clouded the Fed?s policy outlook, while political instability in France and Japan has deepened fiscal worries. Meanwhile, China?s central bank continued its gold buying spree for the 11th consecutive month in September, reinforcing the global demand uptrend. On MCX, bullion futures fell by ₹220 to ₹120030 per 10 grams.

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