Market Analysis
XAUUSD midweek: gold breaks above 4160, where we are 2026-08-03
Gold is up roughly 89 dollars from Monday's open, having cleared 4172.77 intraday as Hormuz deal hopes ease inflation fears.
2 min readThe SPX500 trades at 7770.1 as of Wednesday's close, up roughly 247 points from Monday's open at 7522.7. That is a gain of about 3.3 percent across the first three sessions. The week's high sits at 7771.3, printed Wednesday, and the low was 7514.7 early Monday. Price is holding within a hair of its highs.
The bundle carries no scheduled events or headlines for this week, so the move is price-led rather than data-led. Monday opened at 7522.7 and closed strong at 7607.8. Tuesday did the heavy lifting, opening at 7607.9 and running to 7758.2 before settling at 7749.2. Wednesday has been quiet by comparison, a tight 7747.9 to 7771.3 range on much lighter volume of 40,881 versus Tuesday's 231,712.
The calendar for the back half of this week is clear in the bundle, so no scheduled catalyst is set to land Thursday or Friday. That shifts the focus onto price behaviour. If the index defends Tuesday's close near 7749 into the back half, the 7771 high stays the line bulls are pressing. If buyers lose that footing, the gap back toward Monday's close at 7607.8 becomes the reference. Watch whether the light Wednesday volume expands or the drift stalls.
As of Wednesday, LHFX client positioning shows 58.5 percent long against 41.5 percent short. The skew leans with the trend, which fits a market pressing new highs. It is not a stretched reading, so consensus midweek is constructive without being crowded.
The 7771.3 high is the level to watch. Hold above 7749 and a clean break of 7771 keeps the round 7800 handle in view. Slip back under 7749 and the 7607.8 area from Monday's close is the next obvious reference. Traders eyeing correlated index moves can compare the run against the Nasdaq 100. You can track SPX500 spreads and the current book on your LHFX account.
Byline: LHFX Research
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