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fxAug 5, 2026, 3:37 AM

Gold Eyes $4,150 Acceptance as Hormuz Deal Hopes Fuel Recovery

Gold extends its rebound from the $4,020 area, with XAU/USD pushing past $4,100 and targeting acceptance above $4,150 amid optimism around a Strait of Hormuz deal.

XAUUSD

Gold prices continued their recovery during Wednesday's Asian session, rising from near $4,020 to breach the $4,100 handle. The move comes as market sentiment improves on hopes for a deal easing tensions around the Strait of Hormuz.

The advance sees XAU/USD now aiming for acceptance above the closely-watched $4,150 level. Traders are monitoring whether the current momentum can sustain a break above this threshold, which could open the door to further gains.

Geopolitical headlines remain a key driver for the precious metal, with the Hormuz developments providing a short-term lift despite gold's typical safe-haven role. No significant resistance has been reported ahead of $4,150.

Source: FXStreet Forex News