Gold futures declined by ₹176 to ₹1,19,470 per 10 grams on Wednesday as investors exercised caution ahead of the US Federal Reserve’s monetary policy decision later in the day. This marks the fourth consecutive session of losses for gold futures for December delivery, which fell 0.15 percent in a business turnover of 13,116 lots on the Multi Commodity Exchange (MCX).
In contrast, silver futures experienced a rebound due to value buying. The price of silver for December delivery increased by ₹451, or 0.31 percent, reaching ₹1,44,793 per kilogram in a trade volume of 20,331 lots.
Globally, December Comex gold futures traded down by $15.9, or 0.4 percent, at $3,967.2 per ounce, marking the fourth day of decline. “Gold prices hovered around $3,970 per ounce on Wednesday as attention shifted to the Federal Reserve’s expected rate cut later today,” stated Jigar Trivedi, Senior Research Analyst at Reliance Securities. He noted that traders are also keenly awaiting indications from Fed Chair Jerome Powell regarding the trajectory of monetary policy, with markets already anticipating another rate reduction in December.
Trivedi pointed out that investors continued to keep an eye on developments related to a potential US-China trade agreement, which could further decrease safe-haven demand. On the other hand, December Comex silver futures rose by 0.32 percent to $47.47 an ounce.
Additionally, US President Donald Trump and Chinese President Xi Jinping are expected to finalize a framework agreement aimed at preventing further US tariff increases and easing China’s restrictions on rare earth exports.
Despite the recent downtrend, Trivedi mentioned that the precious metal remains poised for its third consecutive monthly gain, having risen approximately 50 percent this year. This increase is attributed to economic and geopolitical uncertainties, considerable central bank purchases, and concerns regarding currency devaluation.
The article was published on October 29, 2025.
