Gold prices continued their downward trend on Thursday, marking a third consecutive session of declines and remaining close to a seven-month low. The primary driver of this decrease is the strengthening of the US dollar, fueled by growing anticipation of further interest rate hikes by the Federal Reserve. A stronger dollar typically makes gold less attractive to international investors, as it becomes more expensive in other currencies. Investors are reacting to signals suggesting the Fed may continue its policy of raising rates to combat inflation. This expectation increases the opportunity cost of holding non-yielding assets like gold. The precious metal is currently trading near its lowest level since November 2022, reflecting the market’s sensitivity to US monetary policy.