Gold Extends Decline as Stronger Dollar and Rate Hike Fears Pressure Bullion
Gold prices remained under pressure on Friday, extending losses for a second consecutive session as investors favored the U.S. Dollar amid rising inflation concerns and expectations that the Federal Reserve may keep interest rates elevated for longer. The sell-off comes as higher oil prices, renewed geopolitical tensions, and fresh U.S. tariff measures have strengthened the case for tighter monetary policy, reducing demand for the non-yielding precious metal. (Reuters)
The latest decline follows a sharp rebound in crude oil prices after escalating conflict in the Middle East raised concerns about global energy supplies. At the same time, the Trump administration announced new tariffs on imports from dozens of trading partners, adding another layer of inflationary pressure to the global economy. These developments pushed U.S. Treasury yields higher and lifted the U.S. Dollar Index, making gold more expensive for overseas buyers and reducing its appeal as a safe-haven investment. (Reuters)
From a technical standpoint, XAU/USD continues to trade with a bearish bias below the $4,050 level after failing to hold recent gains. Immediate support is seen around $4,000, with a decisive break potentially exposing the $3,950-$3,920 region. On the upside, resistance remains near $4,100, while the major hurdle sits around $4,200, where sellers have repeatedly emerged. Momentum indicators suggest downside pressure remains intact as the stronger dollar and elevated bond yields continue to weigh on sentiment. (FXStreet)
Looking ahead, traders will closely monitor next week's Federal Reserve meeting and any fresh developments surrounding geopolitical tensions and global trade policy. A more hawkish tone from policymakers or further gains in Treasury yields could keep gold under pressure, while any signs of easing inflation expectations or a softer U.S. Dollar may provide the precious metal with an opportunity to stabilize and recover. (Reuters)
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