Gold dips below $4,100 as dollar marches higher
Gold extended losses for the second consecutive day on Wednesday as the DXY Dollar Index surged to 13-month highs near 102.00.
The precious metal has breached the 4,100 line and is heading to retest year-to-date lows, at $4,023, and probably also the $4,000 psychological level.
Precious metals remain under strong bearish pressure as investors brace for Federal Reserve interest rate hikes in the second half of the year.
US macroeconomic figures and the stubbornly high inflation have prompted Fed policymakers to adopt an unambiguous hawkish rhetoric over the last few weeks, sending US yields and the Dollar higher.
Beyond that, stock markets have seen significant losses amid a sharp sell-off of tech shares, leaving investors wondering whether the AI bubble is finally bursting.
Concerns about the impact of a potential AI burst in a global economy still in shock from the Middle East conflict are providing additional support to the safe-haven USD.
(Source: OANDA)
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6/24/2026 5:52:01 AM