Trump's Shifting Stance on Iran Triggers Gold Sell-Off Fears

Gold futures have been trading in a narrow range between $4,215.98 and $3,958.39 after experiencing a sharp slide on June 5, 2026. The price has faced significant resistance at $4,508, testing a low of $4,045.79 on June 11, 2026.

Recently, gold futures retested the key resistance at $4,175.49 since July 29, but failed to break through and closed at $4,096.22. The price has been consistently under selling pressure this week, with a sharp sell-off on July 31.

The US-Iran conflict has reached its 158th day, with President Trump threatening Iran with 'decapitation' while also signaling a potential peace deal. However, the recent drone strike by Yemen's Iran-backed Houthis on a Saudi airport has raised concerns about the stability of the region.