Spot gold prices slipped below a key psychological level of US$4,000 per ounce level for the first time since November 2025 on Wednesday, under pressure from a firmer U.S. dollar and growing expectations that interest rates will remain elevated. The U.S. dollar firmed, making dollar-priced bullion more expensive for holders of other currencies. Traders have ramped up bets on U.S. interest rate hikes this year after the U.S. central bank struck a hawkish tone at its latest policy meeting and as fears of inflationary pressures stemming from the Iran war persisted. “The market pricing a rate hike as soon as September ... (full story)