Gold rebounded near $4,000 an ounce as investors sought safety following a slump in global stocks due to concerns around elevated valuations. December Gold futures rose, recovering from a nearly 2% drop in the previous session as the US dollar strengthened. Treasury yields rallied, while global stocks snapped back after extending their steepest drop in nearly a month. Gold’s recent decline was influenced by Federal Reserve policymakers refraining from fully supporting an additional interest-rate cut in December, weighing competing risks from inflation and a softer labor market. The CME FedWatch Tool now shows a 64.5% probability of a 25 basis point rate cut at the December 9-10 meeting, down from 66.6% a week earlier. Silver looks to snap a 3-day losing streak and push back above $48 after selling off 11% from its 52-week high of $53.02.