Gold prices fell below $4,500 per ounce on Friday, marking a decline of approximately 0.94% in both spot bullion and New York futures. This drop highlights the impact of macroeconomic factors such as a stronger U.S. dollar and rising oil prices, which have renewed bets on Federal Reserve tightening. The dollar's strength, reaching a six-week high, and oil prices surpassing $97 per barrel have increased pressure on gold, making it more expensive for international buyers and raising inflation concerns. The shift in market sentiment has also affected Bitcoin, as gold's previous record highs coincided with a significant Bitcoin rally. Currently, Bitcoin is trading around $77,000, while the historical parity metric suggests a potential price near $171,000 per Bitcoin. The macroeconomic environment, with expectations of higher interest rates, could continue to pressure both gold and high-beta assets like cryptocurrencies, as traders adjust their positions in response to changing rate expectations.