Spot gold tests $4,370 support as geopolitical tensions and Federal Reserve policy weigh on investor sentiment.
Gold prices fell to $4,433, nearing the $4,370 support level, as concerns over Iran and hawkish Fed signals pressured markets. Traders are eyeing a potential drop to $4,000 if support fails to hold.
The decline follows comments from Fed Governor Cook, who highlighted inflation expectations and oil prices as key risks. Earlier, the RBNZ signaled further rate hikes, reinforcing global monetary tightening concerns.
Market reaction remains cautious, with investors balancing geopolitical risks against central bank policies. The Fed’s stance continues to drive volatility in precious metals.