Cautious Markets: Gold Futures Dip Amid Fed Speculation

Gold futures experienced a marginal decline on Wednesday, dipping by Rs 176 to Rs 1,19,470 per 10 grams, as the market displayed apprehension ahead of the US Federal Reserve's impending decision on monetary policy.

This marked the fourth consecutive session of losses for gold futures, with December deliveries seeing a decrease of 0.15% at the Multi Commodity Exchange in a sizable business turnover of 13,116 lots. In contrast, silver futures rebounded due to value buying, rising by Rs 451.

On the international stage, Comex gold prices also fell, down by USD 15.9 to USD 3,967.2 per ounce, marking their fourth day of losses. Analysts are keenly observing comments from Fed Chair Jerome Powell for future policy direction as the market readies for another anticipated rate cut in December.