Gold prices are on track to record a fourth consecutive weekly decline, driven by a strengthening US dollar and renewed investor caution regarding the durability of the US-Iran peace agreement.
The precious metal has faced sustained selling pressure as market participants recalibrate their outlook on Federal Reserve policy.
Silver has also come under pressure, dropping below $60 to trade near $58.
The dollar’s advance has been fueled by growing expectations that the Federal Reserve will maintain a hawkish stance, potentially keeping interest rates higher for longer.
This shift in monetary policy expectations has eroded the appeal of non-yielding assets like gold, which has already slipped below the $4,000 mark earlier in the week to test $3,980.
Silver has also come under pressure, dropping below $60 to trade near $58.
Beyond macroeconomic drivers, geopolitical risks continue to influence market sentiment.