{"id":435277,"date":"2026-08-03T16:23:13","date_gmt":"2026-08-03T09:23:13","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/trumps-iran-deal-claims-lift-gold-but-markets-remain-skeptical-435277\/"},"modified":"2026-08-03T16:23:13","modified_gmt":"2026-08-03T09:23:13","slug":"trumps-iran-deal-claims-lift-gold-but-markets-remain-skeptical","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/trumps-iran-deal-claims-lift-gold-but-markets-remain-skeptical-435277\/","title":{"rendered":"Trump’s Iran deal claims lift gold, but markets remain skeptical"},"content":{"rendered":"
\n

FUNDAMENTAL
\n OVERVIEW<\/p>\n

\u00a0<\/p>\n

Gold opened the week slightly higher after Trump
\n called off the planned strikes on Iran<\/a> claiming they reached the perimeters
\n of a deal that would include the immediate and complete opening of the Strait
\n of Hormuz. He added that this ceasefire is subject to being able to make a deal
\n rapidly, with negotiations starting today. \u00a0<\/p>\n

The good news is that Trump continues to follow the same old \u201cescalate to
\n de-escalate\u201d strategy. The bad news is that Iran denied Trump\u2019s claims and confirmed
\n that the strait remains closed because of US attacks. This has limited the
\n upside in gold. <\/p>\n

Overall, the fundamentals haven\u2019t changed much, so it\u2019s just about waiting
\n for the US CPI and further US-Iran developments. A de-escalation would keep
\n supporting the market on easing inflationary worries and lower rate hike probabilities.
\n An escalation, on the other hand, would keep gold under pressure and potentially
\n take it to new lows. <\/p>\n

\u00a0<\/p>\n

GOLD TECHNICAL ANALYSIS \u2013 DAILY TIMEFRAME<\/p>\n<\/p>\n

On the daily chart, we can
\n see that gold broke above the downward trendline but couldn\u2019t extend the gains as
\n the price got stuck in a consolidation. The buyers will likely continue to step
\n in around these levels with a defined risk below the recent low around the
\n 3,995 level to position for a rally into the next trendline around the 4,400
\n level. The sellers, on the other hand, will want to see the price falling below
\n the 3,995 level to extend the drop into the 3,885 level next.<\/p>\n

GOLD
\n TECHNICAL ANALYSIS \u2013 4 HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 4 hour chart, we can
\n see the price action has been mostly rangebound since late June, and this
\n leaves traders with little to do other than waiting for technical breakouts or
\n fundamental catalysts. The buyers will need the price to break above the 4,200
\n resistance to gain more conviction for a reversal of the trend. The sellers, on
\n the other hand, will likely step in around the resistance with a defined risk
\n above it to position for a drop into the 3,885 level.<\/p>\n

GOLD TECHNICAL ANALYSIS \u2013 1
\n HOUR TIMEFRAME<\/p>\n<\/p>\n

On the 1 hour chart, we
\n have a minor resistance zone around the 4,120 level where the price got
\n rejected from several times in the past weeks. The sellers will likely step in
\n around the resistance with a defined risk above it to keep targeting new lows,
\n while the buyers will look for a break to increase the bullish bets into the
\n 4,200 resistance. The red lines define the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>, we have the US ISM
\n Manufacturing PMI. Tomorrow, we get the US Job Openings data. On Wednesday, we
\n have the US ADP and ISM Services PMI. On Thursday, we get the latest US Jobless
\n Claims figures. On Friday, we conclude the week with the US NFP report. <\/p>\n

This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

FUNDAMENTAL OVERVIEW \u00a0 Gold opened the week slightly higher after Trump called off the planned strikes on Iran claiming they reached the perimeters of a deal that would include the immediate and…<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435277","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435277"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435277\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}