Gold is testing key chart support as the Strait of Hormuz remains closed and U.S.-Iran talks stay stalled. Futures traded near $4,425 on the daily chart, with a break below $4,403.82 support risking further declines toward $4,444 on the shorter-term chart.
Gold futures slipped toward critical support levels on Tuesday as the U.S.-Iran standoff entered its 172nd day with no resolution in sight. President Donald Trump said talks with Iran were neither taking place nor scheduled, even as he maintained the Strait of Hormuz remains open and operating.
No talks, no reopening
Trump wrote on Truth Social that the Naval Blockade remains in full force and that all water mines have been removed or detonated. Iran, however, says the shipping route will stay closed until the U.S. meets the terms of an interim deal, which Iranian parliament speaker Qalibaf described as lifting the blockade of Iranian ports, ending oil sanctions, releasing frozen assets, and halting military operations on all fronts.
Kushner, Trump's son-in-law and special envoy, struck a more optimistic tone on Monday, saying conversations between the U.S. and different areas of the Iranian government are probably more robust than they may have ever been. Yet progress toward reopening the strait has stalled, and Iran has signaled it may shift to a fully offensive military posture.
Technical levels under pressure
Gold futures are trading at $4,425, having tested the day's high of $4,492.65 and low of $4,407. On the daily chart, the metal is defending key support at $4,403.82, with a Dark Cloud formation signaling a possible continuation of selling.
On the 1-hour chart, a breakdown below the $4,444 support level could trigger a fresh selling spree, while upside remains capped at resistance near $4,539.54.
Source: Commodities Analysis & Opinion (Investing.com)
Trading involves risk.
Risk Disclaimer
