The price of gold futures slipped on Tuesday as investors took profits, a strong U.S. dollar pulled the market lower, and the outlook for more Federal Reserve rate cuts in 2025 faded.
At 12:30 p.m. IST, the India Bullion & Jewellers Association (IBJA) said the spot price for a 10‑gram bar of 24‑carat gold was ₹1,19,916. On the Multi Commodity Exchange (MCX), December gold futures fell by ₹836 (0.69 %) to ₹1,20,573 per 10 grams, while the U.S. dollar index climbed 0.08 % to 99.95.
Analysts point to a number of forces that have made gold less attractive. A firm dollar keeps the gold price down. Growing trade ties between the U.S. and China and a lower chance of another Fed rate cut this year add pressure. “Gold stuck around the $4,000 level as the dollar remained high, while Fed officials argued over the economy,” said Manav Modi, precious‑metal analyst at Motilal Oswal.
China’s decision to end a long‑running tax exemption for some gold retailers could slow a buying spree in the world’s biggest consumer market. At the same time, central banks worldwide boosted gold purchases in Q3 2025, up 28 % from the previous quarter, according to the World Gold Council.
“In November, gold began on a bright note thanks to a weaker rupee and a Comex price above $4,010,” said Jateen Trivedi, VP Research Analyst at LKP Securities. “With the U.S. government shutdown delaying key data, investors turned to manufacturing and non‑manufacturing PMI readings this week.”
Trade talks in the U.S.–China and U.S.–India arena are expected to keep gold prices volatile. Analysts predict a trading range of about ₹1,18,000 to ₹1,24,000 for Indian gold futures in the near term.
Source: ianslive
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