Gold Prices Today Drop Near Two-Week Low as Strong Dollar; Fed Rate Hike Bets Pressure Market
Spot gold fell 0.9% to $4,071.28 an ounce as traders priced in three Federal Reserve rate hikes this year, the CME FedWatch Tool said.
- On Wednesday, gold fell for a second consecutive session to a near two-week low, pressured by a stronger U.S. dollar that extended its rally to a 13-month high.
- Traders are pricing in three interest rate hikes from the Federal Reserve this year according to the CME FedWatch Tool, compared with bets of one before last week's Fed meeting.
- UBS analyst Giovanni Staunovo noted that lackluster investment demand is hindering gold, while ING now expects gold to average $4,300/oz and $4,600/oz in the third and fourth quarters, respectively.
- President Donald Trump said on Tuesday that Iran agreed to indefinite nuclear inspections, though Tehran denied making such concessions, casting doubt over the durability of the peace deal.
- Investors are awaiting U.S. Personal Consumption Expenditures data due on Thursday, the Federal Reserve's preferred inflation gauge, for further signals on the monetary policy outlook.
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15 Articles
The crisis currency is as cheap as last November 2025. Analysts are already cutting their price forecasts. In the long term, however, this could be an opportunity.
Gold extends fall to near 2-week low on firm dollar, Fed rate-hike bets
Zero Hedge
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The Hindu Business Line
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