Gold Price Plunges Below $4,450 Amid Fed Rate Hike Expectations

The price of gold has slipped below $4,450 due to bets on interest rate hikes by the Federal Reserve. This development has caused a drop in demand for the precious metal.

The Federal Reserve's decision to raise interest rates has had a significant impact on the global economy. As investors expect higher interest rates, they tend to favor investments with higher returns, such as stocks and bonds over gold.

Markets.com notes that trading foreign exchange and Contracts For Difference (CFDs) is highly speculative and carries a high level of risk. It advises investors to be aware of all the risks associated with trading on margin.