Gold prices hit a one-week low below $4,100 as renewed selling pressure mounts amid growing expectations for additional Federal Reserve interest rate hikes.
Gold prices are experiencing renewed selling pressure, pushing the asset to a one-week low during the Asian session. This downward momentum is driven by strengthening expectations of Federal Reserve interest rate hikes, which are outweighing the impact of a weaker US Dollar and pushing bears to target levels below $4,100.
The asset is currently in a downward trajectory, hitting a fresh one-week low during the Asian session.
Bears are actively attempting to push the price of gold below the $4,100 mark.
Gold prices retreated to a one-week low during Thursday's Asian session, falling below the $4,100 threshold. The decline persists as market participants increase bets on further Federal Reserve interest rate hikes despite a softening U.S. dollar.
Gold is declining because market participants are prioritizing expectations of higher Federal Reserve interest rates, which typically increase the opportunity cost of holding non-yielding bullion.