Gold hits $3,500, crypto profit-taking, indices rally, NFP ahead [Video]

Jasper Osita Independent Analyst

The markets are at a critical turning point this week, and in this video, I break down the major moves across asset classes:

Gold’s surge to $3,500

Gold has pushed into uncharted territory, hitting the $3,500 level as risk-off sentiment and Fed cut expectations fuel safe-haven demand. We’ll explore the catalysts behind this move and what it means for traders in the days ahead.

Crypto money rotation

After weeks of strong gains, the crypto market is showing signs of rotation. Altcoins are cooling off as traders take profit, while Bitcoin and Ethereum face key resistance zones. Is this just a healthy reset or the start of a deeper correction?

US indices gearing up

The S&P 500, Nasdaq, and Dow Jones are showing strength and building momentum toward new all-time highs. With investor sentiment improving, I’ll discuss what levels to watch and how earnings and Fed policy are shaping the next leg higher.

Forex majors in a waiting game

EUR/USD, GBP/USD, USD/JPY and other major pairs remain rangebound as traders position for Friday’s Non-Farm Payrolls (NFP) release. Liquidity is building up, and a strong or weak jobs report could trigger the breakout.
This week’s price action reflects a market in transition - from profit-taking in crypto to safe-haven demand in gold and bullish equity positioning. The real volatility catalyst, however, may come from NFP, which could dictate USD direction across the board.

If you’re a trader looking for:

Short-term trade setups.
Macro market narratives.
Technical outlooks with clear scenarios.

This breakdown will help you stay prepared.

Author

Jasper Osita

Independent Analyst

Jasper has been in the markets since 2019 trading currencies, indices and commodities like Gold. His approach in the market is heavily accompanied by technical analysis, trading Smart Money Concepts (SMC) with fundamentals in mind.

GBP/USD trims gains, back to around 1.3500

GBP/USD now surrenders part of the earlier move to multi-week peaks around 1.3530 and comes close to the 1.3500 support on Monday. Cable’s uptick comes in tandem with decent gains in the Greenback, always amid persistent uncertainty lingering over the reopening of the Strait of Hormuz and US-Iran talks.

EUR/USD deflates to 1.1540

EUR/USD begins the week on the back foot, retesting the 1.1540 zone as the NA session draws to a close. The better tone in the US Dollar weighs on the risk complex, sparking the daily correction in spot, always on the back of unabated effervescence in the Middle East.

Gold surges past $4,400, hitting fresh two-month highs

Gold climbs further beyond $4,400, touching its highest level since June 5 in the Asian session on Tuesday. Easing Fed rate hike expectations continue to drive flows towards the non-yielding bullion. Meanwhile, inflation risks stemming from volatile oil prices back the case for at least one rate hike in 2026, which supports the US Dollar and might cap the precious metal ahead of the crucial US CPI report on Wednesday.

Ethereum: SharpLink reports loss as BitMine continues share buybacks and ETH acquisitions

SharpLink reported $394.3 million in Q2 net losses following heavy declines in the crypto market, over a 3.5x decline from the $103.4 million losses in Q2 2025, according to a filing on Monday. The losses comprise $321 million in unrealized crypto losses on its ETH holdings and $76.1 million in impairments on its liquid staking tokens LsETH and weETH.

RBA set to hold interest rate at 4.35% as softer inflation cools hike bets

The Reserve Bank of Australia is on track to keep the Official Cash Rate (OCR) steady at 4.35% for the second consecutive meeting on Tuesday. The decision will be announced at 04:30 GMT, accompanied by the Monetary Policy Statement and updated economic forecasts. RBA Governor Michele Bullock’s press conference will follow at 05:30 GMT.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.