Gold falls to over one-week low on firm dollar, Fed rate hike bets

Gold slid to its lowest level in more than a week as the U.S. dollar held firm and traders increased their bets on further Federal Reserve interest rate hikes. The transmission channel runs through real yields and opportunity cost: higher expected policy rates lift Treasury yields, which raises the real return on non-yielding assets like bullion and makes holding gold relatively less attractive. A stronger dollar compounds the pressure, since bullion is priced in dollars and a firmer currency makes it more expensive for buyers holding other currencies. Gold is therefore most directly exposed to moves in U.S. real yields, while the dollar index reflects the offsetting rate-differential support. Traders will watch the upcoming U.S. consumer price index release and Fed speaker commentary, as inflation readings will determine whether rate-hike expectations strengthen or fade.

The US Dollar (USD) is the world's primary reserve currency and the base for most forex majors. Headlines about Federal Reserve policy, US macro data (CPI, NFP, GDP), and Treasury yield shifts typically drive USD pair direction within seconds of release.

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