Saxo Bank: Gold price falls below $4,000, affected by interest rate hike concerns

```htmlAccording to Jinse Finance, on July 1, before Federal Reserve Chairman Kevin Walsh delivered his speech at the European Central Bank Forum held in Portugal, gold prices fell below $4,000 per ounce. Analysts from Saxo Bank stated: "The market has not attracted enough buying interest to establish this level as a support." They also mentioned: "Gold prices declined by 14% in the second quarter, marking the worst quarterly performance since 2013. As investors continue to reflect the risk expectations that the Federal Reserve may further tighten policy due to rising inflation – despite recent energy price declines." In early European trading, New York gold futures fell 1.6% to $3,974 per ounce. Meanwhile, the US Dollar Index rose 0.2% to 101.37, making dollar-denominated commodities more expensive for overseas buyers.```