Gold Price Tumbles Below $4,350 Amid Rising Yields and Hawkish Fed Bets

The price of gold has dropped below $4,350 due to higher US yields and hawkish bets on the Federal Reserve's future actions.

Rising Treasury yields have put pressure on non-yielding assets like gold, causing its price to fall in the early Asian session. The US Dollar also strengthened against other currencies, making it more expensive for investors to hold gold.

Fed Chair Kevin Warsh warned of potential further rate hikes if inflation does not cool down to the target level, increasing bets on a September rate hike.