Gold Falls Further, With Focus on U.S.-Iran Talks and Warsh Senate Hearing

Gold extended losses as a firmer U.S. dollar and geopolitical uncertainty around U.S.-Iran talks pressured prices. New York futures slid about 1.6% to roughly $4,750.20 an ounce, while the continuous GC00 contract traded near $4,741.40. Market participants are also focused on Kevin Warsh’s Senate confirmation hearing for the Fed nomination for signals on rate policy; ANZ said higher inflation could keep the Fed on hold, reducing near-term case for cuts and weighing on gold. The dollar’s uptick (about +0.2%) and risk-off headlines contributed to the downward pressure on bullion.