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macroJun 23, 2026, 11:15 PM

Gold Drops to Near $4,100 on Fed Rate Hike Bets

Gold price slid to around $4,100 as traders anticipate Fed rate hikes amid inflation concerns.

XAU/USD

Gold (XAU/USD) lost ground to near $4,100 during early Asian trading on Wednesday, extending its decline as market participants solidified expectations that the US Federal Reserve will continue raising interest rates to combat persistent inflation.

The precious metal's retreat reflects growing conviction in tighter monetary policy, which typically weighs on non-yielding assets like gold. The move comes as inflation data and hawkish Fed commentary have reinforced rate hike bets in recent sessions.

Source: FXStreet Forex News