Gold futures retreated below $4,200 per ounce on Wednesday as investors anticipated the release of US CPI data for additional insights into the Federal Reserve’s policy trajectory, with PPI figures scheduled for Thursday. Bullion has remained within a constrained $4,091–$4,259 trading range throughout October, potentially foreshadowing a forthcoming price movement. Despite the dollar index remaining below 102, heightened tensions in the Middle East continued to bolster demand for the precious metal as a safe haven, mitigating downward momentum. Concurrently, the IMF cautioned that a possible conclusion to the artificial intelligence investment surge, increasing debt levels, and an extended conflict in the Middle East could pose risks to global expansion and financial stability. On MCX, December gold futures declined below Rs.1,48,000 per 10 grams, extending their move below the significant Rs.1,50,000 psychological level.