GOLD

Gold trades below the $4,100 resistance area, with prices likely to move sideways between this resistance and the $3,950 support area during today’s session.
|
Support |
3950 | 3850 |
| Resistance | 4100 |
4200 |
Gold held above the $4,050 level, supported by ongoing tensions in the Middle East and concerns over potential disruptions to energy supplies. However, expectations that U.S. interest rates will remain elevated limited the strength of the advance. Spot gold rose to $4,057 as Brent crude surged more than 20% in July, bringing inflation concerns back into focus. Attention is now turning to U.S. labor market data, which could play a decisive role in shaping the Federal Reserve’s policy stance in the coming period.
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