Gold Price Falls Below $4,300 Amid US Dollar Strength

The price of Gold has extended its steady intraday slide to below $4,300 levels as the US Dollar continues to rise on the back of the Federal Reserve's hawkish outlook. The Fed raised interest rates for the first time in over three years and signaled one more hike this year, with traders seeing a 90% chance of a rate hike in December.

US bond yields remain depressed below multi-year highs as the decline in crude oil prices cools fears of runaway inflation. This keeps the precious metal confined to its weekly range.

The technical analysis suggests that the Gold price remains under pressure, with momentum indicators mixed and the Relative Strength Index at 47.86 easing toward neutral. Immediate support is seen at $4,314, followed by deeper Fibonacci levels.