Overview
- Spot gold has slid to roughly $4,250–$4,305 an ounce and is down more than 2% for the week, reflecting a multi‑session international pullback.
- Markets have pushed Treasury yields higher with the 30‑year approaching multidecade highs, which raises the opportunity cost of holding gold and reduced investor demand.
- Traders and analysts say the dollar’s recent strength and market pricing of further Federal Reserve rate hikes are the main forces driving the selloff.
- Tensions around Iran and the Strait of Hormuz have kept Brent and oil prices elevated, creating an inflation risk that complicates bullion’s outlook by both supporting safe‑haven demand and increasing pressure on central bank policy.
- Local markets in India and Pakistan have amplified the move into sharp retail swings, with multiple days of losses and large intraday changes in per‑tola and per‑10g rates that hurt consumers and small dealers and leave near‑term direction dependent on upcoming U.S. data and any shift in Iran talks.