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fxJul 13, 2026, 4:16 AM

Gold Slides Toward $4,050 as Iran Risks and Fed Hike Bets Strengthen USD

Gold opened the week with a modest bearish gap and retreated closer to $4,050 in Asian trading, pressured by a stronger USD on Iran geopolitical tensions and rising Fed rate hike expectations.

XAUUSD

Gold (XAU/USD) began the new trading week with a modest bearish gap, sliding back toward the $4,050 level during Asia-Pacific hours. The precious metal is under renewed selling pressure as the U.S. dollar strengthens.

The greenback is gaining support from two main factors: escalating geopolitical risks surrounding Iran and growing market bets that the Federal Reserve will continue hiking interest rates. A stronger dollar typically weighs on gold prices, as the metal becomes more expensive for holders of other currencies.

No additional details were provided on the extent of the gap or subsequent price action. The $4,050 area now acts as immediate support for gold traders.

Source: FXStreet Forex News