Gold market analysis

"Gold Price: Intraday Strategy Suggests Buying on Dips" – Completed on 21/7/2026 at 11:13  
The situation between the U.S. and Iran has seen another shift. According to Fox News, citing senior U.S. officials, President Trump will decide in the coming days whether to escalate military operations against Iran and resume full-scale combat. Officials stated that if a full-scale military campaign resumes, its scale and intensity would far exceed the nine-night airstrikes that began on July 7. On the other hand, an Iranian Foreign Ministry spokesperson confirmed receiving proposals from multiple mediators suggesting a 10-day ceasefire, aimed at finding ways to revive the temporary agreement between the U.S. and Iran. 

Gold prices rose steadily as expected, breaking above the 50-period SMA on the hourly chart (currently around $4,006) yesterday and reaching a high of $4,040 ahead of New York's open. Although it quickly pulled back afterward, it held firm above the 50-period SMA in a narrow consolidation range during New York trading hours. Today, although gold briefly tested below $4,000 at Asian market open, it swiftly recovered and surged higher, surpassing yesterday’s high to reach $4,043.65. If Trump signals a pause in further military actions against Iran, a significant rise in gold prices is expected, with $4,110 becoming the first major target. A break above this level would likely push prices toward $4,210. 

Gold prices are expected to continue rising intraday along the 20-period SMA on the 5-minute chart (currently around 4030), with the 50-period SMA (currently around 4021) serving as a key support level. My trading strategy suggests buying on pullbacks, entering when prices retrace to the 20SMA. If gold breaks below this line and tests the 50SMA, I would consider exiting on a rebound to the 20SMA, or even switch to a reversal short position. There are already signs that gold is entering a trending phase; investors should patiently wait for optimal entry and exit points. Without clear reversal signals, avoid making speculative moves or acting out of fear by entering too early or taking profits prematurely. 

The above information is for reference only and does not constitute investment advice.