XAU/USD drops near $4,050 as investors weigh hawkish Fed signals and uncertainty over US-Iran negotiations.
Gold prices fell to around $4,060 during Asian trading on Monday, extending losses toward $4,050. The decline reflects investor caution ahead of US Nonfarm Payrolls data and lingering uncertainty over US-Iran talks.
The precious metal had traded higher last week but retreated as hawkish Federal Reserve expectations resurfaced. Market focus now shifts to Friday’s NFP report, which could influence Fed rate cut timing.
No immediate market reaction was reported, though traders may await further cues from geopolitical developments and economic indicators.