Gold slides further on Tuesday after reversing from a more-than-three-month high last week.
Hawkish Fed expectations and rising Treasury yields keep the precious metal under pressure.
XAU/USD tests a key support zone as momentum shifts in favour of sellers.
Gold (XAU/USD) extends its pullback from the more-than-three-month high touched last week and falls to a fresh two-week low on Tuesday. Rising expectations of Federal Reserve (Fed) interest rate hikes and fresh tensions in the Middle East remain the main drivers behind the latest leg lower. However, softer-than-expected US economic data help cushion the downside.
At the time of writing, XAU/USD trades around $4,373, down nearly 1.68% on the day after touching an intraday low of $4,326.
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