Gold Slips to March Low Near $4,300 as USD Strengthens on Fed Hike Bets

Gold (XAU/USD) attracted fresh selling pressure on Monday, reversing a modest Asian session uptick that took prices to the $4,350-$4,355 area. The metal subsequently touched its lowest level since March 23, trading near the $4,300 mark.

The decline comes as the US dollar gains support from ongoing geopolitical tensions and growing expectations of further Federal Reserve interest rate hikes. A stronger dollar typically weighs on dollar-denominated assets like gold, dampening demand from holders of other currencies.

Technically, gold appears vulnerable near the March low, with the $4,300 level acting as a key support zone. A break below this level could open the door for further downside.