Mumbai, Nov. 27 -- Gold futures hovered just below $4200 per ounce as traders maintained strong expectations of a December Federal Reserve rate cut, keeping sentiment broadly supported. The dollar index extended its decline below 99.5, adding further traction for bullion ahead of the December 9-10 FOMC meeting. Weak US labor signals, sticky inflation and a soft 0.2% rise in September retail sales have strengthened the case for policy easing, with consumer confidence also falling to its lowest level since April. The CME FedWatch tool now shows an 85% probability of a December cut. MCX February bullion futures traded slightly lower at Rs.127662 per 10 grams, though long-term demand remains underpinned by structural trends consistently emphasi...