Gold Heads for Third Weekly Loss as Hawkish Fed, US-Iran Deal Weigh

Gold (XAU/USD) is heading for a third consecutive weekly loss as traders weigh the Federal Reserve's hawkish monetary policy announcement against news of a potential US-Iran peace deal.

At the time of writing, XAU/USD trades around $4,157 after earlier touching a one-week low of $4,123. A hawkish Fed outlook tends to boost the US dollar, putting pressure on gold prices, while easing geopolitical tensions further diminish the metal's safe-haven appeal.

The combination of these factors has kept gold on a downward trajectory this week, with sellers maintaining control near the $4,150 zone.