Gold Remains Stagnant, Market Trapped by Oil and Interest Rate Sentiment
Newsmaker.id - Gold prices moved within a limited range on Friday, July 24, 2026, after experiencing a sharp decline in the previous session. Spot gold rose only around 0.2% to around US$4,055 per troy ounce, while US futures traded around US$4,058. This slight movement indicates investors remain cautious in determining their next direction.
Gold received some support after Brent prices fell back below US$100 per barrel. Weakening oil prices helped ease concerns that soaring energy costs would exacerbate inflation and force the Federal Reserve to raise interest rates more aggressively. However, oil prices still recorded significant gains throughout the month due to the Middle East conflict and the threat of disruptions to energy distribution lines.
Gold price at the time of this analysis: $4,059
- Buy if the price moves to $4,050
- Sell if the price moves to $4,063
Resistance 2: $4,088
Resistance 1: $4,075
Support 1: $4,047
Support 2: $4,035
Note: This article is analytical in nature and not a definitive reference. Please consider the impact of fundamental and technical developments on your trading before making any investment decisions.
Source: Newsmaker.id
