Spot Gold price broke below the $1735 and $1700 threshold and fell to a fresh one-month low of $1,688.71 a troy ounce as the dollar extended its rally at the beginning of the new month. Gold price (XAU/USD) has displayed a vertical downside move in the Asian session and has printed a fresh four-day low below $1,693.00. The precious metal sensed a sheer downside momentum after delivering a downside break formed the consolidation formed in a narrow range of $1,700.00-1,704.08. The yellow metal is expected to display more weakness as the US dollar index (DXY) is picking bids ahead of the speech from Federal Reserve (Fed) chair Jerome Powell, scheduled for Thursday.