🥇 GOLD UPDATE | Aug 3 Close
Spot Gold closed $4,054.50 (+0.32% | +$12.80)
Oil crash + softer yields + weaker DXY kept bullion bid BUT reduced safe-haven demand from US-Iran diplomacy cooled the upside
📊 3-Day Technical Map (Kitco chart)
🔸High: $4,112.80
🔸Low: $4,018.20
🔸Current range: still trapped between $4,051 – $4,087
🎯 Key Levels for this session
🐂Bulls: Need clean break & hold above $4,087 → next targets $4,116 → $4,150 → $4,200
🐻Bears: Break below $4,051 opens $4,021 then psychological $4,000
💡 Trader advice:
Mixed macro = range day expected. Lower oil/inflation risk is supportive, but risk-on equities + fading Hormuz premium keep gold from running.
Best setup: wait for break of $4,051 or $4,087 with volume. Don’t force mid-range.
What’s your bias for today’s session? 📈 Break higher or 📉 fade the bounce?
$XAU
Spot Gold closed $4,054.50 (+0.32% | +$12.80)
Oil crash + softer yields + weaker DXY kept bullion bid BUT reduced safe-haven demand from US-Iran diplomacy cooled the upside
📊 3-Day Technical Map (Kitco chart)
🔸High: $4,112.80
🔸Low: $4,018.20
🔸Current range: still trapped between $4,051 – $4,087
🎯 Key Levels for this session
🐂Bulls: Need clean break & hold above $4,087 → next targets $4,116 → $4,150 → $4,200
🐻Bears: Break below $4,051 opens $4,021 then psychological $4,000
💡 Trader advice:
Mixed macro = range day expected. Lower oil/inflation risk is supportive, but risk-on equities + fading Hormuz premium keep gold from running.
Best setup: wait for break of $4,051 or $4,087 with volume. Don’t force mid-range.
What’s your bias for today’s session? 📈 Break higher or 📉 fade the bounce?
$XAU