Gold falls to a two-week low as Fed rate hike bets rise
Gold prices have dropped to a nearly two-week low during the Asian session on Wednesday.
The decline is driven by a greater chance of a rate hike by the US Federal Reserve, which has pushed the US Dollar to a fresh high since May 2025.
This, in turn, has driven flows away from the non-yielding bullion, despite easing inflationary concerns due to the recent fall in Crude Oil prices.
The US Treasury Department’s temporary 60-day sanctions waiver on Iranian crude oil has also eased global supply concerns, weighing on Oil prices and alleviating upstream pressure on consumer inflation.