{"id":441010,"date":"2026-10-28T16:40:17","date_gmt":"2026-10-28T09:40:17","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-rebounds-on-renewed-hopes-for-us-iran-deal-as-focus-shifts-to-fomc-decision-441010\/"},"modified":"2026-10-28T16:40:17","modified_gmt":"2026-10-28T09:40:17","slug":"gold-rebounds-on-renewed-hopes-for-us-iran-deal-as-focus-shifts-to-fomc-decision","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/gold-rebounds-on-renewed-hopes-for-us-iran-deal-as-focus-shifts-to-fomc-decision-441010\/","title":{"rendered":"Gold rebounds on renewed hopes for US-Iran deal as focus shifts to FOMC decision"},"content":{"rendered":"
\n

Gold rebounded yesterday on renewed hopes for a
\n US-Iran deal. The market started to move when Iran’s state media reported that
\n Iran’s security chief met with the Supreme Leader Khamenei. Sources said that
\n Khamenei stressed in the meeting the importance of pursuing Iran’s interests
\n and implementing its conditions with the aim of ending the war and the stalemate
\n situation.<\/p>\n

It was just a quick headline with little substance,
\n but markets reacted positively as they are desperate for good news. The
\n narrative was that Iran\u2019s security chief was bringing the leader some kind of
\n framework for a deal. The markets might also be very sensitive to deal
\n developments given the proximity to the US midterm elections.<\/p>\n

This morning, Reuters reported that Qatari mediators
\n presented Iran with new draft deal in Tehran on Sunday and that Iran is considering
\n the proposal, with response expected by the end of the week. The report added
\n that the draft sets a seven-day timeline addressing both sides’ concerns, each
\n side must make daily confidence-building steps. Timeline could begin early next
\n week\u00a0depending on Iran\u2019s response.<\/p>\n

Today we have also the FOMC decision where the Federal
\n Reserve is widely expected to keep interest rates unchanged at 3.75\u20134.00%. With
\n no new projections or dot plot expected at this meeting, changes in Fed Chair Warsh’s
\n or statement’s language will be the main focus.<\/p>\n

A surprise rate hike would trigger a hawkish repricing
\n and weigh on gold in the short-term. A largely neutral outcome that avoids
\n signalling an imminent rate hike could be taken as dovish and trigger a relief
\n rally in precious metals. I would also expect the same reaction but with less
\n magnitude in case the Fed just delivers on the hawkish hold expectations,
\n avoiding major surprises. <\/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<\/a>(CFD contract) pulled back a
\n bit and it\u2019s approaching the downward trendline. If the price gets there, we
\n can expect the sellers to lean on the trendline, with a defined risk above it,
\n to keep targeting the 3,885 support zone. The buyers, on the other hand, will
\n want to see the price breaking higher to pile in for a rally into the 4,700
\n level next. <\/p>\n

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

On the 4 hour chart, we can
\n see that the price rejected the resistance zone around the 4,070 level as the
\n sellers stepped in to target a drop into the 3,885 level. If we get a breakout,
\n the buyers will likely pile in for new highs, with the downward trendline as
\n the first target. The sellers, on the other hand, will continue to step in
\n around the resistance and the trendline to keep pushing into new lows.<\/p>\n

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

On the 1 hour chart, there\u2019s
\n not much we can add here as the sellers will have a better risk to reward setup
\n around the resistance and the trendline, while the buyers will need the price
\n to break above those key levels to open the door for new highs. The red lines
\n define the average daily range<\/a> for today.<\/p>\n

UPCOMING CATALYSTS<\/p>\n

Today<\/a>we
\n have the FOMC rate decision. Tomorrow, we get the US GDP report, the US PCE and
\n the latest US Jobless Claims figures. On Friday, we conclude the week with the
\n US Employment Cost Index.<\/p>\n

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

Gold rebounded yesterday on renewed hopes for a US-Iran deal. The market started to move when Iran’s state media reported that Iran’s security chief met with the Supreme Leader Khamenei. Sources said…<\/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-441010","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441010","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=441010"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/441010\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=441010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=441010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=441010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}