Gold prices came under significant selling pressure in U.S. and global markets on Monday, September 28, as a stronger U.S. dollar, elevated Treasury yields and expectations of further Federal Reserve tightening reduced investor appetite for the non-yielding precious metal. Spot gold was quoted around $4,254 an ounce in early trading before extending losses during the session, while U.S. gold futures also moved lower; later reports showed spot bullion slipping below the psychologically important $4,200 level. The decline has been linked to rising oil prices and renewed inflation concerns, which have strengthened expectations that the Federal Reserve may keep monetary policy restrictive or raise rates again. Higher Treasury yields make interest-bearing assets comparatively more attractive, while a stronger dollar makes dollar-denominated gold more expensive for buyers using other currencies. Despite geopolitical uncertainty that can normally support safe-haven demand, the combination of dollar strength, higher yields and tighter-rate expectations has dominated gold trading. Investors are now watching upcoming U.S. inflation and employment indicators for fresh clues about the Federal Reserve’s next policy moves, meaning gold could remain sensitive to changes in interest-rate expectations, Treasury yields, the dollar and geopolitical developments.
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