Dollar Rebounds, Gold Comes Under Pressure
Gold prices moved lower during Friday evening trading on July 31, 2026, at around 9:38 p.m. Jakarta time. XAU/USD traded near $4,040 per troy ounce after reaching an intraday high around $4,111. Selling pressure pushed gold away from the $4,100 level that had previously provided support.
The decline was mainly driven by a recovery in the US dollar. The dollar index strengthened after falling sharply earlier on suspected intervention by Japanese authorities to support the yen. A stronger dollar makes gold more expensive for buyers using other currencies, which tends to weaken demand.
Pressure also came from resilient US economic data. US consumer sentiment rose to a five-month high in July, while household spending remained firm. These conditions reinforced expectations that the Federal Reserve may not need to ease monetary policy anytime soon.
However, gold’s decline remained limited by ongoing tensions between the United States and Iran. The conflict continued to support safe-haven demand, although higher energy prices also raised inflation risks and could encourage the Fed to keep interest rates elevated for longer.
Source : Newsmaker.id
