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macroJun 30, 2026, 2:50 AM

Gold hits fresh YTD low as USD strengthens on geopolitics, Fed bets

Gold (XAU/USD) extended its decline for a second day, touching a new year-to-date low near $3,942-$3,943 during Asian trading, pressured by a stronger USD amid US-Iran tensions and expectations of further Federal Reserve rate hikes.

XAUUSD

Gold (XAU/USD) continued its selloff for a second consecutive session, falling to a fresh low since November 2025 around the $3,942–$3,943 area during Asian trading hours.

The decline was driven by renewed safe-haven demand for the US dollar amid escalating US-Iran geopolitical tensions, along with mounting expectations that the Federal Reserve will deliver additional interest rate hikes. A stronger dollar typically weighs on gold, which is priced in USD and becomes less attractive to foreign buyers.

Traders are now eyeing key support levels as the metal breaks below recent ranges. Any further upside in the greenback or hawkish Fed commentary could accelerate losses.

Source: FXStreet Forex News