Gold futures settled $53.30 lower (-1.3%) at $4,149.40/oz, as investors continued to reduce safe-haven positions amid easing geopolitical tensions, including progress in U.S.-Iran peace talks, which diminished demand for defensive assets.
The decline was amplified by a stronger U.S. dollar and rising expectations that the Federal Reserve could keep interest rates higher for longer, increasing pressure on non-yielding assets like gold.
U.S. Dollar Index is up +0.4% to $101.41.