Gold Records First Monthly Gain Since U.S.–Iran War
• Gold has recorded its first monthly gain since the onset of the U.S.–Iran war, closing July 2026 with a modest increase of $
• According to Kitco, this marks a consolidative phase for the metal, with a near-perfect doji candlestick pattern forming on the monthly chart, indicating indecision in the market. The daily chart also showed a significant development, with gold closing above a descending resistance trendline for the first time in five months. Analysts suggest this could signal the beginning of a reversal or the formation of a base for future price increases.
Impact & Risks
The modest gain in gold prices could impact investors and traders looking for safe-haven assets amid global economic uncertainties. While the higher monthly low and the breakout above resistance are positive signs, they are not yet sufficient to confirm a sustained rally. A failure to hold these levels could lead to further price declines, affecting market sentiment and investment strategies.
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