December gold futures on the Comex exchange fell below $4,150 per troy ounce for the first time since September 28, according to trading platform data.
During the session, gold dropped 0.76% to $4,130.7, before the decline slowed to 0.33%, with futures settling at $4,148.6.
Prices are being influenced by Federal Reserve policy expectations, a stronger dollar, and rising US bond yields. Despite the correction, HSBC maintains its year-end forecast for gold at $4,750 per ounce.
