Gold prices fell to a four-day low amid strong dollar demand driven by inflation concerns, despite geopolitical tensions typically supporting safe-haven assets. The decline accelerated during Asian trading hours, with XAU/USD dropping below ,000 but finding temporary support near the psychological level. The U.S. dollar index (DXY) rose to 105.5, reflecting improved investor confidence in the greenback as central banks prioritize rate hikes to combat inflation. The dollar's dominance is reshaping commodity markets, with gold's inverse relationship to the USD amplifying losses. Traders are closely monitoring Federal Reserve policy signals and inflation data for clues on dollar momentum. Technical indicators show key support at ,950 and resistance at ,150, with a breakdown below ,900 likely to trigger further selling. For Gulf investors, this trend highlights the need to balance gold holdings with USD-denominated assets. Regional central banks' monetary policies and oil prices could influence gold's trajectory. Watch the Fed's June meeting and OPEC+ output decisions for potential market-moving events.
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