Global Gold Prices Fall as US Dollar Strengthens and Rate-Cut Prospects Dwindle

New York, Kompas.com – Global gold prices fell at the close of trading on Tuesday (3 March 2026) local time or Wednesday (4 March 2026) morning WIB, weighed down by a stronger US dollar and fading expectations for the Federal Reserve’s rate cuts. Citing Reuters, spot gold was down 3.6% to $5,137.00 per ounce, after earlier hitting a high in more than four weeks. US gold futures closed 3.5% lower at $5,123.70 per ounce. The US dollar, also a safe‑haven asset, strengthened sharply, making gold priced in dollars more expensive for holders of other currencies and dampening investor demand for the precious metal. Government bond yields rose for two consecutive sessions. Nonetheless, Haberkorn valued the price decline as potentially temporary: “The fall is unlikely to last long. A move into safe-haven assets prompted by geopolitical risks should support gold and silver prices,” he added.