Gold skids under $4000 mark on waning expectations of further US rate cuts

COMEX Gold futures dropped below $4000 per ounce on Tuesday, pressured by a stronger dollar and waning expectations of further US rate cuts. The dollar index hovered near three-month highs at 99.6 after Federal Reserve officials signaled caution over additional easing. Fed Governor Lisa Cook highlighted labor market risks but refrained from supporting a December cut, while Chicago Fed President Austan Goolsbee emphasized inflation concerns. Safe-haven demand also weakened after the US and China extended their tariff truce and eased trade barriers. On the MCX, December gold futures traded lower by 0.3% at ₹121009 per 10 grams.

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