Gold Dips Amid Rising Dollar and Anticipated U.S.-Iran Talks

Gold prices declined to a one-week low as a strengthening dollar exerted downward pressure on the precious metal, while investors await developments from U.S.-Iran discussions and indications of the Federal Reserve's forthcoming policy stance.

As spot gold fell 1% to $4,942.48 per ounce, with U.S. gold futures for April also down, analysts point out investor caution amid geopolitical tensions and the anticipation of the Fed's next moves.

The U.S. dollar's 0.3% rise against other currencies resulted in heightened gold costs for non-dollar investors. Traders are keeping a keen eye on U.S. and Iran's indirect nuclear talks in Geneva and the Fed's January meeting minutes for insights into rate changes that could impact gold pricing.