Federal Reserve's anticipated rate hike has reinforced its hawkish posture, sending international gold prices into a tailspin during trading, with spot gold currently lingering below the $4,300 per ounce threshold.

On the fundamental front, the U.S. Federal Reserve concluded its two-day monetary policy meeting on the 16th, announcing a 25-basis-point increase in the federal funds rate target range to 3.75%-4%. Concurrently, the Fed's latest economic projections released that day indicate that 16 of 18 officials anticipate at least one more rate hike before year-end. Following the announcement, Chair Powell emphasized in the press conference that inflation remains elevated, underscoring the need for the Fed to drive it back down to the target range in a timely manner.

The U.S. dollar index has climbed past the 100 mark, while the 10-year Treasury yield has rebounded above the 5% threshold. With the Fed's current shift toward a hawkish stance, should the Bank of England and the Bank of Japan tighten policy in tandem, the market's expectation of a "global central bank re-tightening" is poised to exert collective bearish pressure on gold.

This week, market participants will also monitor the U.S. initial jobless claims for the week ending September 12th, the September Philadelphia Fed manufacturing index, August housing starts and building permits, August pending home sales, August industrial production, and the Conference Board's leading indicators. Should jobless claims and the leading indicators weaken, the market may front-run expectations of "fewer future Fed rate hikes," potentially fueling a rebound in gold prices.

Additionally, geopolitical shifts and ETF inflows are expected to serve as a buffer against further downside. Technically, gold has broken below its 5-day, 10-day, and 20-day moving averages, with the MA60 positioned near $4,239 per ounce, marking the $4,239-$4,250 zone as the final line of defense for bulls. The RSI (14) hovers around 38, not yet oversold but clearly weak. On the chart, the $4,235-$4,280 range appears to form a new consolidation base, with prices below $4,300 reflecting "post-Fed hawkish decision repair" rather than a trend reversal. Only a reclaim of the $4,310 level, coupled with weak U.S. jobless claims, would open the path toward $4,340-$4,360. Should the $4,235 level give way, it would unlock further downside, targeting $4,200 and $4,160 per ounce.