Gold poised for fourth weekly loss on hawkish Fed bets | Metals Mine

  • Gold poised for fourth weekly loss on hawkish Fed bets

    From brecorder.com

    Gold was set on Friday for a fourth straight weekly fall, as a resilient dollar and expectations of faster U.S. rate hikes to tame inflation kept bullion pressured near $4,000 per ounce. Spot gold fell 0.6% to $4,002.77 per ounce by ​0441 GMT. U.S. gold futures for August delivery lost 0.7% to $4,017.30. For the ​week, bullion was on track for a loss of 3.8%, having ⁠slipped below the key $4,000 level for the first time since November 2025 on ​Wednesday. “The rapid repricing of the hawkish Fed created a strong bullish momentum in ​the U.S. dollar, which eventually led to this significant downward drift in ... (full story)

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ZforexCM
11 hr ago
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Gold remained under pressure below $4,000, heading for a fourth straight weekly decline as traders continued to favor the dollar over non-yielding assets. Strong U.S. inflation data and growing expectations for three Fed rate hikes this year have reinforced the view that interest rates will stay higher for longer, limiting demand for bullion.

While gold is seen as an inflation hedge, the current market is paying more attention to rising yields and a stronger dollar. Unless upcoming economic data weakens the case for further Fed tightening, any rebound may struggle to gain momentum.

First resistance is seen at $4055, with initial support near $3960.

R1: 4055 - S1: 3960
R2: 4090 - S2: 3910
R3: 4150 - S3: 3840
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