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fxJul 3, 2026, 3:56 AM

Gold Advances to $4,200 Neighborhood as Fed Rate Hike Bets Diminish

Gold (XAU/USD) extends its recovery for a third straight day, approaching $4,200, as reduced expectations of Federal Reserve rate hikes weigh on the US dollar.

XAUUSD

Gold (XAU/USD) continues to build on this week's rebound from its lowest level since November 2025, marking a third consecutive session of gains. The precious metal is edging into the $4,200 area.

Traders attribute the move to diminishing bets on further Federal Reserve rate hikes, which has kept the US dollar under pressure. A weaker greenback typically supports dollar-denominated commodities like gold.

The recovery follows a recent pullback that had dragged gold to multi-month lows. Market participants will watch for any Fed commentary or economic data that could shift rate expectations further.

Source: FXStreet Forex News