{"id":1153,"date":"2026-08-06T06:20:43","date_gmt":"2026-08-06T06:20:43","guid":{"rendered":"https:\/\/goontrading.com\/en\/1153-2\/"},"modified":"2026-08-06T06:20:43","modified_gmt":"2026-08-06T06:20:43","slug":"1153-2","status":"publish","type":"post","link":"https:\/\/goontrading.com\/en\/1153-2\/","title":{"rendered":""},"content":{"rendered":"

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\"Gold<\/p>\n

\n

Gold surged today, clearing resistance at $4,200 and its 50-day moving average at $4,249 to reach an intraday high of $4,328.20. At the time of writing, the metal is trading at $4,308 \u2014 a gain of $173.80, or 4.20%, marking gold’s largest single-day advance in five months.<\/p>\n

While multiple catalysts propelled gold higher, the primary driver was once again rooted in remarks by President Trump, who stated that Iran is in active discussions regarding the reopening of the Strait of Hormuz. Under the proposed arrangement, Iran would control ships entering the Strait via a northern route close to the country, while Oman would oversee vessels exiting through a southern route. The reported terms include an initial 60-day fee-free period for vessels transiting the Strait, with the possibility of extending that arrangement further.<\/p>\n

The agreement carries some credibility. Iran has stated publicly that it is not engaged in direct talks with the United States but is in discussions with Oman \u2014 the long-standing mediator between Washington and Tehran \u2014 regarding the opening of the waterway through which 20% of globally transported maritime oil flows, representing roughly 15% of total global oil sales.<\/p>\n

The geopolitical narrative was not the only bullish catalyst. Second-quarter central bank gold reserve data showed reserves expanding at a faster-than-expected pace, notably among countries that had been largely absent from the gold-buying landscape in recent quarters. Markets confirmed the bullish read as gold finally broke free of the tight range that had contained it since June 22nd.<\/p>\n

Today’s session delivered a clear breakout of both the descending triangle pattern and the 20- and 50-day simple moving averages. The next area gold is poised to test sits near $4,400 \u2014 a resistance zone aligned with historical turning points dating back to November and December of 2025, and closely matching a 23% retracement from gold’s all-time high to its recent lows near $4,020 in the December Comex contract. These developments have also shifted rate expectations: the CME FedWatch tool now reflects the lowest odds of a September rate hike seen in over a month, placing a 45% probability on the Fed holding rates unchanged at its current target.<\/p>\n

For the first time in five months, gold’s path of least resistance has shifted to the upside a welcome development for bulls who had been in a defensive posture heading into today. Should this momentum be sustained, gold will move to test resistance near $4,400. If sentiment fades, the initial pullback target would be the 50-day moving average at $4,243, followed by $4,200, and below that the descending trend line now near $4,070 \u2014 a level that flipped from resistance to support beginning yesterday.<\/p>\n

Wishing you, as always, good trading.<\/p>\n

To learn more simply visit\u00a0www.thegoldforecast.com<\/p>\n<\/div>\n

Kitco.com<\/p>\n","protected":false},"excerpt":{"rendered":"

\u26a1 Trade with Ultra-Low Spreads on IC Markets! \u2794 [Link] \ud83c\udf81 Get Your Exclusive XM Deposit Bonus Now! \u2794 [Link] \ud83d\udca1 Master the Markets with FXTM Copy Trading \u2794 [Link] Gold surged today, clearing resistance at $4,200 and its 50-day moving average at $4,249 to reach an intraday high of $4,328.20. At the time of …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40],"tags":[],"class_list":["post-1153","post","type-post","status-publish","format-standard","","category-gold-commodities-trade-news"],"_links":{"self":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/comments?post=1153"}],"version-history":[{"count":0,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/posts\/1153\/revisions"}],"wp:attachment":[{"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/media?parent=1153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/categories?post=1153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goontrading.com\/en\/wp-json\/wp\/v2\/tags?post=1153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}