Gold prices fell 1.8% on Tuesday, closing at $4,117.61 per ounce, as a stronger U.S. dollar and growing expectations of Federal Reserve tightening weighed on the metal.
Price Decline
Spot gold slipped 1.8% to $4,117.61 per ounce, while the front‑month futures contract for U.S. delivery dropped 1.6% to $4,135.10. In New York, futures traded 1.7% lower at $4,129.10 during the morning session.
Market Drivers
The Dollar Index hovered near its 13‑month high, a level set in the previous week, making bullion more expensive for foreign buyers and dampening demand. Investors also factored in the Federal Reserve’s latest meeting, where new Chair Kevin Warsh kept the policy rate unchanged at 3.50%–