Gold Slides to $4,650 as Dollar Strengthens on Iran Tensions and Fed Rate Hike Bets

BitcoinWorld Gold Slides to $4,650 as Dollar Strengthens on Iran Tensions and Fed Rate Hike Bets Gold prices retreated sharply on Wednesday, sliding to $4,650 per ounce as the U.S. Dollar rallied on the back of escalating geopolitical tensions in the Middle East and renewed expectations that the Federal Reserve may raise interest rates again. The precious metal, which had been trading near recent highs, faced selling pressure as investors rotated into the greenback, traditionally viewed as a safe haven during periods of global uncertainty. Dollar Strength and Geopolitical Fears Drive Gold Lower The U.S. Dollar Index (DXY) surged to a multi-week high as reports of heightened military activity between Iran and neighboring states rattled global markets. The dollar’s rise typically weighs on gold, which is priced in USD and becomes more expensive for holders of other currencies. Meanwhile