Gold pulls back to a one-week low as safe-haven momentum cools and the dollar firms up.
Spot gold slipped to around $4,918 after a sharper intraday drop, while U.S. futures also extended losses. The uptick in the dollar index pressured bullion, making it more expensive for overseas buyers.
Markets are in wait-and-watch mode ahead of:
• U.S.–Iran nuclear talks in Geneva
• U.S.–Russia–Ukraine discussions
• FOMC minutes (Wednesday)
• December PCE inflation data (Friday)
Rate-cut expectations remain centered on June, but traders are looking for clearer guidance from the Fed. With geopolitical tensions still active, the broader outlook for gold remains supported — though short-term volatility is rising.
Silver and platinum also saw sharp declines, reflecting broad precious metals weakness in thin holiday liquidity across Asia.
Stay cautious — key macro catalysts ahead.
