Spot gold trades near 4,150 USD per ounce after declining for three weeks amid a firmer dollar and expectations of prolonged Fed tightening.
Gold prices fell to their lowest level since June 11, trading near 4,150 USD per troy ounce, marking a third consecutive weekly decline. The drop reflects a stronger US dollar and rising speculation that the Federal Reserve may maintain a restrictive monetary policy longer than anticipated.
Prior to this streak, gold had rallied in early June, supported by softer US inflation data and expectations of a Fed pivot. However, recent economic indicators and hawkish Fed commentary have reversed sentiment, pressuring the non-yielding asset.
Market participants are closely watching upcoming US economic releases and Fed signals for further direction on rate expectations.