<div id="readability-page-1"><div id="blog-content"><img height="375" src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2014/11/01/22/33/gold-513062_960_720.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="500" original-src="https://imageproxy.pbkrs.com/https://cdn.pixabay.com/photo/2014/11/01/22/33/gold-513062_960_720.jpg"/>Image Source: Pixabay Gold price (XAU/USD) tumbles to around $4,680 during the early Asian session on Friday. The precious metal extends the decline as traders cover losses from equities and adjust positions. The preliminary reading of the Michigan Consumer Sentiment Index report for February is due later on Friday. The Chicago Mercantile Exchange Group (CME), the world's leading derivatives marketplace, has raised initial margin requirements for Gold and Silver futures contracts again, increasing the amount of collateral traders must post to open and maintain positions. Additionally, falling technology stocks have forced some traders to liquidate gold positions to meet margin requirements, exerting some selling pressure on the yellow metal. Easing geopolitical tensions also undermines the safe-haven demand for bullion. Irian and US officials confirmed that the two sides will hold talks in Oman on Friday. Market participants will closely monitorgeopolitical developments surrounding the negotiation. On the other hand, renewed concerns over the Federal Reserve (Fed) independence could drag the US Dollar (USD) lower and provide some support to the USD-denominated commodity price. US President said on Thursday that he would have passed on Kevin Warsh as his nominee to lead the US central bank if Warsh had expressed a desire to hike interest rates.<hr/>More By This Author:USD/CHF Gains Ground Above 0.7750 As Fed Chair Nomination Supports US Dollar XAU/USD Rises Above $5,000 As Ongoing US-Iran Tensions Boost Safe-Haven Demand XAU/USD Recovers Above $4,950 As US-Iran Tensions Boost Safe-Haven Demand </div></div>

GOAU

SGOL

Gold prices (XAU/USD) have fallen to approximately $4,680 as traders book profits and adjust positions amid declining equities. The CME has raised margin requirements for Gold and Silver futures, prompting some traders to liquidate positions. Easing geopolitical tensions and upcoming talks between US and Iranian officials are also affecting demand for gold. Additionally, concerns over the Federal Reserve's independence may impact the US Dollar, potentially providing support for gold prices.

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XAU/USD Falls Below $4,700 As Traders Book Profits