Gold prices weakened below the $4,100 level, pressured by a rebound in the US dollar and concerns that tensions between the United States and Iran could push energy prices higher, adding to inflationary pressures. Markets are also pricing in the possibility that the Federal Reserve may raise interest rates at least once more this year, a negative factor for gold. Although the Fed held rates steady at its latest meeting, three policymakers voted in favor of a 0.25 percentage point hike, reflecting lingering inflation worries. From a technical perspective, gold remains in a consolidation phase. If it fails to hold above the $4,100 to $4,200 range, it could weaken to test support at $4,030 to $4,000.