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fxJul 22, 2026, 3:43 AM

Gold Extends Winning Streak to Third Day, Near $4140; Oil Rally May Cap Gains

Gold price rose 1.5% to near $4,140 during Asian trading on Wednesday, extending its winning streak for a third day. However, the recovery may face headwinds as oil prices continue to gain.

XAUUSD

Gold (XAU/USD) extended its winning streak for a third consecutive trading session on Wednesday, advancing 1.5% to approximately $4,140 in Asian market hours. The precious metal continues to recover from prior lows, maintaining upward momentum.

However, the strong recovery might face a roadblock as oil prices extend gains. Rising crude often influences gold by affecting inflation expectations and monetary policy outlook, potentially capping further upside for the safe-haven asset.

Source: FXStreet Forex News