$Gold.com(GOLD.US)

🏆 [Weekly] Gold Update: XAUUSD Steadies After Fed Pause

Gold eked out a +0.5% gain in July. Its first positive month since February after the Fed kept rates unchanged at its latest meeting.

The upside is limited as markets price a 65% chance of a rate hike in September now- Due to energy inflation risks from rising U.S.–Iran tensions.

🔷 Technical Snapshot

1️⃣ Daily: Closed down -1.42% at $4,045.17, still stuck below the 20‑day average of $4,066.93. The lower Bollinger Band at $3,973.11 remains solid support; RSI is neutral at 44.53.

2️⃣ 4‑Hour: Trading in a tight range between $4,002 support and $4,107 resistance, sitting just under the mid‑line. RSI at 51.91 — no clear bias yet.

💼 Key Drivers Ahead

Chair Warsh stayed hawkish, with dissenters pushing for more hikes. All eyes are now on U.S. Non‑Farm Payrolls and jobs data. These data will decide whether that September hike actually happens.

💡 The verdicts

$3,970–$4,000 is the critical floor. As long as this holds, gold stays in consolidation mode waiting for its next big move. Trade wisely and prepare for next coming volatility🫣🤣.

Not financial advice. Do your own DD.