Gold prices experienced a decline, reaching a near two-week low, following comments from Federal Reserve Chair Jerome Powell indicating a continued commitment to raising interest rates. Powell's hawkish stance, expressed during a forum, signaled the likelihood of further monetary tightening to combat inflation. Higher interest rates typically strengthen the dollar, making gold less attractive to investors. The spot price of gold fell, reflecting investor reaction to the anticipated policy changes. Analysts suggest the market is now pricing in a higher probability of larger rate hikes. This shift in expectations has prompted some investors to reduce their gold holdings. The market will closely monitor upcoming economic data releases for further clues regarding the Fed's trajectory.