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Gold consolidates between $4,000 and $4,100

Ricardo Evangelista
August 04, 2026

Gold prices remained broadly unchanged in early Tuesday trading, extending the period of consolidation that has characterised the market over the past few weeks. The precious metal continues to trade within a relatively narrow range between $4,000 and $4,100 per ounce, as investors await greater clarity on the Federal Reserve's next policy move. While expectations of higher interest rates continue to cap upside potential, underlying demand has so far provided solid support around the $4,000 level. Markets are currently pricing in around a 60% probability of a Fed rate hike in September, reflecting concerns that higher energy prices resulting from the ongoing US-Iran conflict could keep inflation elevated for longer. However, attention now turns to this week's US labour market data, culminating in Friday's Non-Farm Payrolls report. Stronger-than-expected employment figures would reinforce expectations of tighter monetary policy, likely boosting the US dollar and weighing on gold prices. Conversely, weaker data could revive hopes of a more dovish Fed, supporting renewed buying interest in the precious metal.

 

Ricardo Evangelista, ActivTrades  

Gold consolidates between $4,000 and $4,100

Source: ActivTrader

 

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