International gold prices ended a three-year bull run on February 24th, falling below $2,000 per ounce due to increasing expectations of further interest rate hikes by the U.S. Federal Reserve. The strengthening of the U.S. dollar also contributed to the decline in gold’s value. Specifically, prices dropped by 3 percent on the day. Investors are reacting to signals suggesting the Fed may continue its policy of raising interest rates to combat inflation. A stronger dollar typically inversely correlates with gold prices, as gold is priced in dollars and becomes more expensive for international buyers when the dollar appreciates. This marks a significant shift after a sustained period of growth for gold as a safe-haven asset. Analysts are now watching for further economic data releases that could influence the Fed’s decisions and subsequent market reactions.