Gold falls as US Dollar gains
Gold prices have fallen after an initial move up to the $4,590 region, as the US Dollar gains traction.
The US Dollar’s gain is attributed to hawkish Federal Reserve expectations and stalled US-Iran talks.
The market reaction has been muted despite mixed signals from US and Iranian leaders, keeping geopolitical risks in play and underpinning the US Dollar’s reserve currency status.
The Federal Reserve is expected to raise rates, with markets betting on a hike of 25 basis points, further bolstering the US Dollar.