Fed Rate Hikes Pressure Gold Price Near $4,288 Support

Gold's price remains near $4,288 support as traders face pressure from Federal Reserve rate hikes.

The recent decline in gold prices has left it below its key short- and medium-term moving averages, indicating ongoing selling pressure.

The asset is currently trading at $4,324 after a modest decline for the session, with momentum indicators showing a bearish tilt.

Despite sustained physical demand from China, the current technical indicators still point to prevailing downside risks.

Traders are monitoring central bank commentary and oil prices as they watch for further volatility at the $4,288 support level.