Gold futures traded near the $4,500 per ounce mark on Tuesday, paring earlier gains as persistent Middle East tensions and elevated inflation concerns kept investors cautious. Market participants remained focused on the upcoming US PCE inflation report for further clarity on the Federal Reserve's policy outlook, while the dollar index stabilized near six-week highs amid growing expectations of another Fed rate hike before year-end. Geopolitical uncertainty also persisted after President Donald Trump signaled progress in negotiations with Tehran but warned that further military action remained possible if talks collapse. Reflecting the subdued sentiment, MCX June gold futures slipped nearly 1% to Rs 157,800 per 10 grams, while silver futures declined more than 2% to Rs 270,680 per kilogram.
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