Gold is trading 1.6% down at $4,290.10 as hawkish Federal Reserve projections and a U.S.–Iran peace deal dampen demand for the precious metal.
- Under new Chair Kevin Warsh, the Fed signaled no rate cuts through 2026 and a possible hike, pressuring non-yielding assets as real-rate expectations rise.
- Safe-haven demand has eased significantly following the de-escalation of geopolitical tensions through a newly announced peace agreement.