Gold lingers near one-year low as Fed hike expectations firm

Gold's failure to hold $4,000 despite a modest bounce signals fragile positioning: forced liquidations tied to the tech selloff and margin calls are overriding its safe-haven bid. With FedWatch pricing ~75% odds of a December hike, higher real-rate expectations cap upside. Expect continued volatility and headline-driven swings; a hawkish Fed repricing remains the dominant near-term drag.