Federal Reserve's hawkish remarks strengthen tightening expectations, gold prices retreat

Due to the strengthening of the US dollar and hawkish remarks from Federal Reserve officials, market expectations for tightening monetary policy have increased, causing gold prices to decline within a range. The dollar has risen to a two-month high, making gold priced in dollars more expensive. Richmond Fed President Barkin stated that the threat of interest rate hikes and further increases in the future could suppress corporate inflation expectations.