Gold Dips Amid Rising Dollar and Anticipated U.S.-Iran Talks

Gold prices have fallen to a one-week low due to a stronger dollar, as investors anticipate news from U.S.-Iran discussions and Federal Reserve policy signals. The dollar's rise made gold more costly for foreign currency holders. Upcoming events like Fed's January minutes and geopolitical talks could influence future market dynamics.

Gold prices declined to a one-week low as a strengthening dollar exerted downward pressure on the precious metal, while investors await developments from U.S.-Iran discussions and indications of the Federal Reserve's forthcoming policy stance.

As spot gold fell 1% to $4,942.48 per ounce, with U.S. gold futures for April also down, analysts point out investor caution amid geopolitical tensions and the anticipation of the Fed's next moves.

The U.S. dollar's 0.3% rise against other currencies resulted in heightened gold costs for non-dollar investors. Traders are keeping a keen eye on U.S. and Iran's indirect nuclear talks in Geneva and the Fed's January meeting minutes for insights into rate changes that could impact gold pricing.

(With inputs from agencies.)