Spot Gold: Market conditions on August 3rd suggest that spot gold prices saw a notable increase during Monday's Asian trading session. This came after US President Donald Trump indicated that a new round of negotiations between the US and Iran would commence later on Monday, sparking hopes for a breakthrough in the months-long conflict and potentially easing inflationary pressures from energy prices. Spot gold briefly touched a high of $4082.78 per ounce, gaining nearly $40 in a single session. Gold traders are also closely monitoring the Federal Reserve's next moves. Reportedly, Fed Chair Kevin Warsh has stated he is considering reducing the frequency of monetary policy meetings. If implemented, this would mark a significant shift in the Fed's policy framework. Currently, the Fed holds eight policy meetings per year, and it recently voted 9-3 to keep interest rates unchanged last Wednesday.

From a technical perspective, spot gold opened higher on Monday with a gap, reaching near $4082 per ounce following news of easing US-Iran tensions over the weekend. However, buying momentum quickly faded at peak levels, and prices have since retraced. The metal is now trading around $4059 per ounce, exhibiting a classic 'high open, low walk' pattern for the day. The marginal impact of geopolitical news appears to be diminishing, similar to how the initial market shock from the Russia-Ukraine conflict has now largely subsided. The 'boy who cried wolf' effect regarding US-Iran negotiations is also reducing its influence. Technically, the early high of $4083 coincides with the 61.8% Fibonacci retracement level of the decline from $4120, while $4088 was the continuation point of Friday's sell-off. The convergence of these two levels means the $4083–$4088 zone is the key battleground for today. If prices cannot break and hold above this area, bulls will find it difficult to regain control. Conversely, a strong breakout and hold above this zone during the European session could open the path to test $4100–$4120. Key resistance levels to watch this evening are at $4082 and $4118, while support is seen at $4020 and $3995. Suggested trading strategy for the evening: Aggressive traders can look to buy on a dip to $4016 ± 2, with a conservative entry at $4006 ± 2. For selling, consider an aggressive position at $4082 ± 2, or a conservative one at $4115 ± 2. Use a stop-loss of 15 points for all positions, targeting a profit of 30–50 points. Key pivot point: $4082 per ounce. These views are for reference only. Diversify positions and manage risk strictly.

WTI Crude Oil: On Monday during the Asian session, WTI crude oil prices experienced a sharp decline following news that the US and Iran are set to resume talks. Over the weekend, President Trump announced that due to a preliminary framework agreement with Iran and other Middle Eastern nations, which includes provisions for reopening the Strait of Hormuz, and as all parties seek more time to finalize details, the US has decided to postpone a new round of military strikes against Iran. The US will resume negotiations with Iran on August 3rd, causing international crude oil prices to plummet. Looking ahead, the geopolitical landscape remains highly uncertain, suggesting the oil market will continue to exhibit high volatility.

From a technical standpoint, the market's response to the US signaling negotiations and Iran's positive reaction has been a rapid unwinding of the geopolitical risk premium, leading to a significant sell-off in oil prices. On the daily chart, the MACD indicator's DIF line is converging towards the DEA line, with a potential bearish crossover looming, indicating a weakening of bullish momentum. On the 4-hour chart, the moving averages are in a bearish alignment, confirming a short-term downward trend. The RSI indicator has fallen into low territory, showing strong bearish momentum, but the market has not yet shown signs of being oversold. The price trend for today is expected to be downward, with a focus on the progress of US-Iran diplomatic negotiations. Key resistance levels to watch this evening are $81.2 and $83.0, while support is likely at $78.8 and $77.8. Suggested trading strategy for the evening: Aggressive traders can consider buying on a dip to $79.0 ± 0.2, with a conservative entry at $78.0 ± 0.2. For selling, an aggressive position is at $81.0 ± 0.2, and a conservative one at $82.5 ± 0.2. Use a stop-loss of 1.0 point for all positions, targeting a profit of 2.0 per barrel. Futures account opening is available through the Sina cooperation platform, which is safe and secure. This statement is reproduced from a cooperating media outlet. Sina.com's publication of this article is for information dissemination purposes only and does not imply endorsement of its views or confirmation of its description. The content is for reference only and does not constitute investment advice. Investors should act accordingly at their own risk.