Gold remains below $4,200 despite $31 billion ETF inflows and Fed uncertainty

Gold prices edged higher in Asian trading on Tuesday, reversing an initial decline amid a complex market backdrop shaped by renewed geopolitical risks and the expectation of at least one more US interest-rate hike before the end of the year. Spot gold rose 0.1% to $4,145.22 an ounce by 0347 GMT after dipping earlier in the session. December US gold futures also gained 0.1% to $4,164.70. A weaker US dollar helped gold recover from earlier losses, though prices continued to struggle below $4,200 per ounce—a level that has limited recent rallies. Investors are currently weighing a widely anticipated pause in Federal Reserve rate hikes at the October meeting against the increased likelihood of additional monetary tightening in December. The Federal Reserve last raised its benchmark rate to 3.75%–4% in September.

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