7.27 Gold Evening Wrap-up

Guys, good evening! Gold is currently hovering around 4100. Today has seen a strong rebound, with gains of more than 1%. From the 1-hour chart, it spiked to 4116 in the morning and then pulled back; it’s now consolidating around 4099. The 4-hour chart is even more clear: the earlier move saw it rally all the way from 3959. The bulls still control the market, but momentum has started to weaken.

Why is it up? Mainly because the US-Iran front has temporarily paused hostilities, oil prices have fallen, inflation concerns have cooled off, and the US dollar has weakened—giving gold some breathing room. But don’t get too excited yet. Tonight, market liquidity will be lower, and everyone is waiting for the Fed’s interest rate decision. The news flow is relatively quiet, and the room for a big rally or a big drop is basically locked down.

In terms of trading: pull back to 4080-4090 to go long. If it breaks below 4070, cut the loss. Targets are 4116-4134. Control your position size—don’t be greedy! $XAU ‌