Gold Price Breaks $4800?
Monday’s trading precisely captured two upward moves at $4638 and $4665.
On Tuesday, a precise short position was taken at $4658, resulting in three profitable trades and a net profit of 620 points.
Last night, gold prices experienced a strong V-shaped reversal from around $4607 and broke through and held above $4700 after the Asian trading session opened today.
With the US-Iran ultimatum expiring, market news is mixed, and safe-haven demand is dominating.
If the situation escalates, Iran’s allies may push for the closure of the Bab el-Mandeb Strait.
Ahead of the final outcome, the market is choosing to buy gold as a safe-haven asset.
The market has largely ruled out the possibility of an interest rate cut in 2026.
This means gold will face a tug-of-war between “safe-haven buying” and “high interest rate pressure.”
As shown in the chart: The 4-hour bearish flag pattern has been broken and held above $4750, with a bullish target of $4800-$4900.
Trading Strategy:
If the price retraces to the $4700-$4720 area and stabilizes, consider buying on dips.
Stop-loss at $4680.
Target price: $4760-$4780.
If the price breaks directly above $4770, consider establishing a small position with a target price of $4800.
ā ļø Key Risks
The outcome of the ultimatum will determine the gold price trend: Agreement reached ā Gold price plummets to $4650; escalating conflict ā Gold price surges above $4800.
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