Gold Slides to $4,174 as Hawkish Fed Overshadows Iran Peace Deal

Gold is selling off sharply despite the U.S.-Iran interim peace deal, with futures falling toward $4,174 as the Federal Reserve's hawkish tone dominates. The relief rally peaked above $4,351 on June 15 after the ceasefire eased oil prices below $80 and cut December rate-hike odds to 49%. However, the Fed's June 18 signal of possible future hikes strengthened the dollar and triggered a reversal, sending gold to $4,280 that day and extending losses into June 19 for a third straight weekly decline.