Gold Price Prediction Today: Should You Chase Rally or Buy on Dips? Gold prices surged to $4342 in the week ending August 7, marking the largest weekly gain since January, driven by a dovish Federal Reserve, a potential Hormuz deal, and a disappointing US nonfarm payroll report. Analysts suggest buying dips may be a better strategy than chasing the rally, as the metal broke out of a seven-week consolidation range of $3950-$4200. The rally was further supported by China’s continued gold purchases, which have bolstered demand for the precious metal. Geopolitical tensions in the Middle East remain a key factor. Iran and Oman are close to a Hormuz deal, but Iran has tied the reopening of the Strait to US concessions, including ending threats, halting military action, and lifting sanctions. Iran’s Supreme Leader, Mojtaba Khamenei, appointed Major General Mohsen Rezaee, a staunch advocate for Iranian control over the Strait, as the new head of the Supreme National Security Council. The Wall Street Journal reported that US President Trump might declare victory in the conflict if Hormuz reopens, potentially affecting the likelihood of a nuclear deal with Iran. Oil prices fluctuated sharply, falling nearly 9% last week but rebounding 3% on Monday as Iran demanded US concessions. Brent crude futures traded at $86.07, reflecting market uncertainty. The US nonfarm payroll report for July revealed a weaker-than-expected job market, with nonfarm payrolls declining by 23,000 versus an estimated 80,000 gain. Average earnings rose 0.1% month-over-month, but year-over-year growth slowed to 3.2%, the lowest since May 2021. China’s inflation data showed cooling oil-driven inflation, with CPI dropping to 0.5% year-over-year in July and PPI easing to 3.9% from 4.5%.#federal_reserve #mohammad_khamenei #wall_street_journal #mohsen_rezaee #people_bank_of_china
Iran fires missiles at Israel after Beirut attack ‘crossed all red lines’ Iran launched a barrage of ballistic missiles toward Israel on Sunday, accusing the country of violating a ceasefire agreement and crossing “all red lines” by continuing its assault on southern Lebanon. The attack, which began around 10pm local time, targeted Israel’s Ramat David airbase, according to Iranian media. Israeli authorities confirmed they intercepted all incoming missiles and advised civilians to leave protected spaces after the strikes. The Islamic Revolutionary Guard Corps (IRGC) called the operation a “warning” to Israel, warning that further aggression would result in “broader and more crushing” responses. The IRGC’s statement framed the attack as retaliation for Israel’s ongoing military operations in southern Lebanon, which have persisted despite a ceasefire agreement brokered in Washington earlier this week. The IRGC accused Israel of targeting the southern suburbs of Beirut, specifically the Dahiyeh area, where Hezbollah’s Khatam al-Anbiya headquarters is located. “If the crime in the suburbs of Beirut spreads, we will attack targets in the occupied territories,” the IRGC warned. It also threatened to escalate retaliation if Israel “expands its attacks” or responds to Iran’s actions. Israeli military strikes in Dahiyeh on Sunday afternoon killed at least two civilians and injured 11 others in a densely populated neighborhood. Israeli Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz claimed the strikes hit a Hezbollah command center. The attacks have resulted in over 3,500 deaths in Lebanon since March 2, according to Israeli officials. Iran’s military adviser to the supreme leader, Mohsen Rezaee, tweeted that Tehran had “repeatedly stated” it would not tolerate ceasefire violations or aggression against Lebanon.#iran #israel #hezbollah #benjamin_netanyahu #mohsen_rezaee
US-Israel-Iran War Escalates Amid Escalating Strikes and Diplomatic Tensions The conflict between Iran, Israel, and the United States has intensified, with ongoing strikes, rising casualties, and growing global economic uncertainty. Iran’s military actions continue across the Middle East, while the U.S. signals potential diplomatic efforts to de-escalate the situation. Meanwhile, regional tensions have led to heightened security measures, energy market volatility, and humanitarian challenges. Iran’s strikes have targeted multiple locations, including southern Lebanon, where Israeli air attacks hit residential areas and critical infrastructure. Reports indicate that Hermel and several southern towns were hit, with homes damaged. In Iraq, a strike killed 15 fighters, marking another escalation in cross-border violence. Hezbollah claimed responsibility for attacks on Israeli military positions, including a radar site near Ma’alot-Tarshiha and artillery positions in northern Israeli settlements. The U.S. has delayed planned strikes on Iranian power infrastructure amid claims of possible talks, though Iran has dismissed such negotiations as misleading. Iranian officials, including senior Islamic Revolutionary Guard Corps (IRGC) officer Mohsen Rezaee, have warned that attacking Iran’s infrastructure would lead to a “quagmire” for the U.S., with threats of sinking American ships in the Arabian Gulf. Iran’s Energy Minister, Abbas Aliabadi, downplayed concerns over potential attacks on the country’s power grid, stating that Iran’s decentralized electricity system would allow for quick recovery. However, attacks on infrastructure, including power networks and urban areas, have increasingly impacted civilian life, with displacement and humanitarian crises worsening in Lebanon and parts of Iran.#iran #united_states #israel #hezbollah #mohsen_rezaee
