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fxJul 1, 2026, 3:49 AM

Gold Hovers Near YTD Low Below $4,000 on Iran Risks, Fed Hike Bets

Gold (XAU/USD) slips back below $4,000 during Asian session, pressured by Iran geopolitical risks and expectations of a Federal Reserve rate hike that bolster the US dollar.

XAUUSD

Gold (XAU/USD) extended its decline during Asian trading on Tuesday, falling back below the key $4,000 level after a volatile previous session. The precious metal now hovers near its year-to-date low.

The renewed selling pressure comes as safe-haven demand for the US dollar strengthens amid escalating geopolitical tensions involving Iran. Additionally, hawkish Federal Reserve expectations — with markets pricing in a rate hike — further support the greenback, weighing on gold prices.

Traders are now watching for any further escalation in the Middle East or shifts in Fed policy rhetoric that could drive the next directional move in XAU/USD.

Source: FXStreet Forex News