Gold prices declined during the Asian morning trading session. Spot gold fell 0.8% to $4,184.93 per ounce. Analysts from the research division of ANZ noted in a report that the precious metal's price is being weighed down, with the impact of a more hawkish Federal Reserve overshadowing the relief brought by a temporary US-Iran peace agreement. ANZ added that following the central bank's decision to keep interest rates unchanged earlier this week, Federal Reserve Chair Warsh pledged to restore price stability and hinted at growing support for interest rate hikes.