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Gold tumbles as US dollar rises, investors price in hawkish Fed
Key takeaways
- The report comes after Fed Chairman Kevin Warsh reiterated last week that the central bank remains focused on bringing inflation down, remarks that the market interpreted as hawkish.
- From a technical standpoint, the $4,000 to $4,100 range "remains critical," Hansen said.
- "A sustained break below that zone risks triggering a fresh wave of capitulation and momentum-driven selling following the sharp correction already seen from this year s record highs."
Gold tumbles to $4,000 over worries of Fed rate hikes Ines Ferré · Senior Business Reporter Wed, June 24, 2026 at 7:53 PM GMT+7 1 min read What happened: Gold futures (GC=F) tumbled more than 2% on Wednesday to trade near $4,000 per troy ounce.
What s behind the move: The precious metal declined as the US dollar (DX-Y.NYB) rose and investors awaited a key inflation report due on Thursday — the Personal Consumption Expenditures (PCE) index, which is the Federal Reserve s preferred gauge of inflation.
The report comes after Fed Chairman Kevin Warsh reiterated last week that the central bank remains focused on bringing inflation down, remarks that the market interpreted as hawkish.
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