#XAU Gold found support and rebounded, with the bullish structure unchanged. Pay attention to tonight’s major U.S. economic data!
August 4, 2026, falls on a Tuesday, and market focus will turn to important U.S. economic data, including the June trade balance, JOLTs job openings, and factory orders. If the data exceeds market expectations, it may further affect expectations for Federal Reserve interest-rate cuts and intensify volatility in gold, the U.S. dollar, crude oil, and global stock markets. Investors should pay close attention to market performance after the data is released.
The gold market was affected by weekend fundamental news yesterday, opening sharply higher at 4081.6. After reaching an early-session high of 4083.2, prices quickly came under pressure and pulled back, with the intraday low reaching 4018.8. Buying at lower levels then emerged, driving gold prices higher again, with gold ultimately closing at 4054.7.
From the daily chart, gold formed a hammer-like candlestick with a relatively long lower shadow, indicating that support below remains solid. Buying on dips was active, and the bullish trend has not been damaged.
Under the current technical structure, the short-term focus remains on buying on pullbacks. The gold strategy recommends going long near 4025 during the early session, while more conservative traders can wait to enter near 4022. Set a stop-loss at 4017, with targets at 4050, 4065, 4072, 4083, and the 4092–4100 range.
This article is for reference only and does not constitute any investment advice!
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