Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? - TradingKey

AI desk brief

Gold extended its correction on Sept. 24, breaking below $4,300 and trading as low as $4,262.45 as robust U.S. data pushed Fed hike expectations higher, lifting the 10-year Treasury yield to 5.148% and supporting the dollar. Near term, the market is watching the 60-day moving average around $4,270; a close below that level keeps downside risk open toward $4,235 and $4,200, while a recovery back above $4,300 would reopen $4,400.

The piece argues falling oil prices are the main offset, with WTI down about 0.8% to $91.23 on U.S.-Iran diplomatic progress and Brent briefly under $100. Softer energy prices could ease inflation fears and temper further Fed tightening, which would be supportive for gold if the macro backdrop shifts.