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Will gold price break through $4,800?
Monday’s trading saw two notable highs at $4,638 and $4,665.
On Tuesday, a precise sell position was opened at $4,658, resulting in three profitable trades with a net profit of 620 pips.
Last night, after the opening of today’s Asian trading session, gold prices rebounded strongly in a V-shape from around $4,607, breaking through the $4,700 mark and closing above.
Market news was mixed as the ultimatum between the United States and Iran expired, with safe-haven demand taking over.
If the situation escalates, Iran’s allies may push to close the Bab el-Mandeb Strait.
Until a final decision is released, the market will tend to buy gold as a safe-haven asset.
The market has basically ruled out the possibility of an interest rate cut in 2026.
This means gold will face a battle between safe-haven demand and pressure from high interest rates.
As shown in the chart: The four-hour bear flag pattern has been broken, and the price remains above $4,750, with an upward target of $4,800-4,900.
Trading strategy:
If the price falls to the $4700-4720 area and stabilizes, it is recommended to buy on dips.
Stop loss at $4680.
Target price: $4760-4780.
If the price is directly above $4,770, it is recommended to open a small position with the goal of reaching $4,800.
⚠️Main risks
The outcome of the ultimatum will determine the direction of the gold price: an agreement is reached → the gold price falls to US$4,650; the conflict escalates ← the gold price rises to above US$4,800.
Market conditions are constantly changing. If you find yourself having trouble tracking the markets, please consider following me. I’ll track the market for you and we’ll trade together.
