Gold down 3.5% this month

COMEX gold futures fell near $4040 per ounce, down 0.25% on the after the US central bank left benchmark interest rates unchanged at its October policy meeting. MCX Gold is also down 0.22% at Rs 143391 per 10 grams. Fed Chairman Kevin Warsh said during a press conference that officials have made clear our readiness to act as circumstances require, and we have shown our willingness to act. On the inflation front, the Fed acknowledged that price pressures remain elevated, but it chose to pause further rate hikes to gather additional data and assess the appropriate monetary policy stance. The yellow metal is down 3.5% this month.

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