Silver and platinum are also losing ground in today's trading session.
Gold prices slide as Fed rate hike odds jump to 88%. Strong dollar pressure builds ahead of the PCE report, with key support levels now under threat.
$4,000: Major level comes into focus as stronger US Dollar weighs on Gold
Gold managed yesterday to hold below the resistance of 4220-45 and reached 4130 earlier today. As we see from the previous chart, prices still have a chance for a trading zone between support 4100 and resistance 4220.
Gold Price Forecast: XAU/USD hovers above $4,100 amid growing bearish pressure
Gold is once again approaching the level that has defined its battle with sellers for months. After falling back below 4,100, the precious metal is now drifting toward the 4,000 region, a major psychological level that has repeatedly halted deeper declines.
Gold and silver traded with mixed signals as the Middle East truce held firm amid Iran-Israel tensions. Gold retested $4,130 support while silver held $62.94.
Pakistan Gold price today: Gold falls, according to FXStreet data
India Gold price today: Gold falls, according to FXStreet data
Malaysia Gold price today: Gold falls, according to FXStreet data
Gold weakens back below $4,150 amid Iran uncertainty, Fed hike bets, bullish USD
Gold failed to surpass $4,380 and started a fresh decline against the US Dollar. The price dipped below $4,320 and $4,265 to enter a bearish zone.