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Prezzi
fxJul 8, 2026, 9:55 AM

Gold Slides Below $4,050 as Trump Ends Iran Pact, Markets Eye Fed Minutes

Gold (XAU/USD) dropped 1.40% to around $4,050 on Wednesday as the US Dollar strengthened following President Trump's cancellation of an Iran-related memorandum. Traders are now focused on the upcoming Federal Reserve meeting minutes.

XAUUSD

Gold prices declined sharply on Wednesday, falling about 1.40% to trade near $4,050 per ounce. The move was driven by a fresh boost to the US Dollar after President Trump scrapped a previously signed memorandum concerning Iran, escalating geopolitical tensions.

Market participants are now shifting attention to the release of the Federal Reserve's latest meeting minutes, which could provide further clues on the central bank's policy path. A stronger greenback typically weighs on gold, as the precious metal is priced in dollars and becomes more expensive for foreign buyers.

Source: FXStreet Forex News