Gold Falls Over 3% as US-Iran Talks and Fed Rate Hike Expectations Reprice Risk Premium

English summary

Spot gold traded near $4,140/oz on Tuesday, falling over 3% in the previous session with a weekly drawdown of about 5%. Market pricing has shifted from pure safe-haven narratives to developments in US-Iran Strait of Hormuz transit arrangements and rising holding costs due to Fed rate hike expectations. Technical indicators show gold near the lower Bollinger Band, with MACD confirming a downtrend.