Gold fell sharply on Tuesday as profit-taking kicked in after expectations of US rate cuts and safe-haven demand propelled the metal to a record in the previous session.
December futures dropped 5.74% (−$250.3) to $4,109.10 an ounce, after logging their 49th record close of 2025 on Oct. 20.
Analysts cited by Reuters said this week’s volatility encouraged traders to take profits.
Citi analysts wrote that expectations of an imminent end to the US government shutdown and a U.S.–China trade agreement could steady gold prices over the next few weeks.
The metal also faced pressure from a firmer dollar, with the dollar index—measuring the greenback against six major peers—up 0.35% at 98.9 as of 9:30 pm KSA time.
Liquidity in precious metals was further thinned by the closure of Indian markets, the world’s second-biggest gold buyer, for the Diwali festival.
Gold fell sharply on Tuesday as profit-taking kicked in after expectations of US rate cuts and safe-haven demand propelled the metal to a record in the previous session.
December futures dropped 5.74% (−$250.3) to $4,109.10 an ounce, after logging their 49th record close of 2025 on Oct. 20.
Analysts cited by Reuters said this week’s volatility encouraged traders to take profits.
Citi analysts wrote that expectations of an imminent end to the US government shutdown and a U.S.–China trade agreement could steady gold prices over the next few weeks.
The metal also faced pressure from a firmer dollar, with the dollar index—measuring the greenback against six major peers—up 0.35% at 98.9 as of 9:30 pm KSA time.
Liquidity in precious metals was further thinned by the closure of Indian markets, the world’s second-biggest gold buyer, for the Diwali festival.
