Gold is experiencing a pullback following a recent uptick, as the US dollar gains strength after bouncing off its one-week low. This rebound in the dollar is largely driven by renewed expectations of interest rate hikes from the Federal Reserve, which typically dampen gold's appeal as a non-yielding asset. Additionally, geopolitical tensions involving Iran contribute to market uncertainty but have not provided enough support to sustain gold's gains. Traders should monitor upcoming Fed communications and geopolitical developments closely, as these factors will be critical in shaping gold's near-term trajectory.