Weekly Overview: XAUUSD, #SP500, #BRENT | 31 July 2026
XAUUSD: BUY 4100.00, SL 4065.00, TP 4187.50
Gold begins the week on a stronger footing following a pause in hostilities between the United States and Iran. Lower oil prices have eased inflation concerns, supported bonds, and put pressure on the US dollar. For XAUUSD, this reduces the risk of a further rise in real yields, although the easing of geopolitical tensions limits defensive demand.
The Federal Reserve’s decision will be the main event of the week. The market expects the policy rate to remain unchanged but will closely assess the central bank’s willingness to tighten policy further. If oil remains below its recent highs and Treasury yields do not resume their advance, the fundamental backdrop will continue to favor a recovery in gold.
Trading idea: BUY 4100.00, SL 4065.00, TP 4187.50
