Gold is poised for a fourth consecutive weekly decline as a firm dollar and market expectations of faster Fed rate hikes keep bullion under pressure around $4,000/oz. OANDA senior market analyst Kelvin Wong said rapid repricing toward a hawkish Fed has fueled the dollar’s rally and driven the recent sharp sell-off; Wong adds the longer-term correction could extend to $3,400/oz. Gold is down about 29% from a Jan. 29 record high of $5,594.82/oz amid inflationary pressure tied to the US‑Iran war th

Gold is poised for a fourth consecutive weekly decline as a firm dollar and market expectations of faster Fed rate hikes keep bullion under pressure around $4,000/oz. OANDA senior market analyst Kelvin Wong said rapid repricing toward a hawkish Fed has fueled the dollar’s rally and driven the recent sharp sell-off; Wong adds the longer-term correction could extend to $3,400/oz. Gold is down about 29% from a Jan. 29 record high of $5,594.82/oz amid inflationary pressure tied to the US‑Iran war that boosted rate‑hike bets; US May PCE rose from April and headline PCE inflation is above 4% YoY, reinforcing prospects of tighter Fed policy.