Gold Suffers Third Weekly Loss as Hawkish Fed Reverses Early Gains

Gold (XAU/USD) began the week on a positive note, opening with a bullish gap and posting strong gains in the first half of the week. However, the momentum was short-lived.

A hawkish stance from the Federal Reserve reversed the upward trend, erasing earlier advances. The shift in sentiment pushed gold to its third straight weekly decline.

The renewed strength of the US dollar and expectations of tighter monetary policy weighed on the precious metal, limiting any recovery attempts.