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fxJul 20, 2026, 4:21 PM

Gold Stuck Above $4,000 as Iran-US Tensions Lift Dollar and Oil

Gold prices remain just above the $4,000 mark as escalating hostilities between Iran and the US for the ninth consecutive day bolster the US Dollar and trigger a bullish gap in oil markets.

XAUUSD

Gold prices are trading just above the $4,000 level at the start of the new week, failing to gain traction despite heightened geopolitical tensions. Over the weekend, Iran and the United States exchanged fire for the ninth straight day, escalating conflict in the Middle East.

The firmer US Dollar, driven by safe-haven flows, is weighing on gold, traditionally a rival safe haven. Meanwhile, oil prices opened with a bullish gap as supply disruption fears mount. Traders are now watching for further diplomatic or military developments that could shift the precious metal's direction.

Source: FXStreet Forex News