Gold market analysis

Gold price holds steady at 4,110 as upward trend continues  
July 27, 2026, 11:07 AM (completed)  

The United States began pausing its attacks on Iran late last Friday, and Iranian military officials also announced a halt to retaliatory operations. However, Yemen's Houthi rebels claimed they attacked Saudi Aramco facilities in the Red Sea port cities of Jizan and Yanbu on Saturday, though Riyadh and Saudi Aramco have not confirmed these reports. Iran's Foreign Ministry stated that communication between the two sides remains ongoing. The news triggered a sharp drop in Brent crude oil prices, which opened lower in today's Asian session with a gap down, briefly testing below $87 before recovering slightly to around $88. 

On Thursday, spot gold closed below the 20-day moving average (currently around 4073) on the daily chart. It further declined to a low of $4021.56 on Friday before recovering and closing at $4053.17. Stimulated by the aforementioned news, gold opened higher this morning in Asian trading with a gap up, rising above the 20-day moving average on the daily chart and reaching a high of $4116.16. Similarly, if gold closes above the 20-day moving average for three consecutive trading days, the credibility of an upward trend will increase. 

On the other hand, measured by the TD line, if gold prices rise above $4,157 today, even without a closing break, the projected upward target would be around $4,373. Therefore, maintaining a strategy of buying on dips remains the primary approach. The first key support level for the day is the hourly 50 SMA (currently around $4,071), and a short-term reversal point is expected this Wednesday (based on New York close). Coincidentally, that day also marks the release of the Federal Reserve's interest rate decision—caution is advised against a rapid drop in gold prices. Additionally, if gold manages to hold steady above $4,110 in the near term, attention should also be paid to whether a minor double top could form at $4,166. 

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