Analyst: Gold price expected to fall this week, influenced by concerns about interest rate hikes.

Gold prices rebounded above $4,000 per ounce, but are still expected to fall this week as investors weigh currency policy prospects and developments in the Middle East. Analysts at Sheng Bao Bank said, "Gold prices are expected to fall for the fourth consecutive week, as investor sentiment remains shaky due to recent selling amidst market adjustments to the unfavorable factors of the tightening stance of the Federal Reserve and the strengthening dollar." They also stated, "Although technical breakdowns continue to weigh on market sentiment, the continued decline in energy prices and softening bond yields may ultimately alleviate pressure on the Federal Reserve to further tighten policy, potentially providing some support for this precious metal." In early trading, New York gold futures were flat at $4,047.30 per ounce, with a decline of nearly 5% for the week.