Gold continues to hold $4,000 as U.S.-Iran pause pressures crude oil - KITCO

What the report says

Kitco NewsWire reported that gold and silver moved higher in late U.S. trading on Monday, July 27, 2026, even as a pause in U.S.-Iran attacks pushed crude oil sharply lower. At the time of Kitco’s report, spot gold was near $4,075.60 an ounce, up 0.59%, while spot silver traded at $58.290, up 0.45%.

According to Kitco, the pullback in oil reduced some concern that the U.S.-Iran conflict would feed inflation through energy prices. Brent crude settled at $85.87 a barrel, down 6.3%, and U.S. crude ended at $82.61, down 7.5%. The report said the Strait of Hormuz remained a key risk for energy markets because the shipping route had carried about 15 million barrels per day of Persian Gulf oil before the war, and alternate pipelines cannot fully replace it.

The Federal Reserve’s upcoming policy decision, due Wednesday, was described as the main macroeconomic risk for gold. Kitco said markets were assigning a meaningful but not majority probability to a 25-basis-point rate increase, leaving gold supported by geopolitical and energy-market risk but restrained by the possibility of restrictive monetary policy and higher real rates.

Kitco also noted mixed U.S. stock performance, with the S&P 500 nearly flat, the Dow up 0.5% and the Nasdaq down 0.2%. The 10-year Treasury yield was near 4.6%, lower than late Friday, while the dollar was little changed to softer. The report identified gold resistance around $4,162.36 to $4,214.34 and near-term support around $4,072.40 and $4,041.65.