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Gold (GC=F) August futures opened at $4,013.40 per troy ounce on Tuesday, July 21, 2026, down 0.1% from Monday's closing price. The price of gold moved higher this morning to $4,063.40 per troy ounce as of 8:20 a.m. ET.
Gold has traded in a tight range near $4,000 over the past week, as investors watch for updates on the Iran war and await an interest rate decision next week. The fighting in the Middle East continued after President Trump vowed revenge for the death of American soldiers. Trump is reportedly considering expanding the attacks against Iran.
The Fed meets next week and will announce its next interest rate decision on Wednesday. According to CME FedWatch, most expect no change to the fed funds rate, but there is a 16.6% chance of a 25-basis-point rate increase.
Continued fighting in the Middle East likely raises the inflation risk, which in turn increases the chances of higher interest rates. While gold is viewed as an inflation hedge, higher interest rates can encourage lower gold prices because some investors will move into yield-bearing **** ets for the interest income.
#middle #east
Gold (GC=F) August futures opened at $4,013.40 per troy ounce on Tuesday, July 21, 2026, down 0.1% from Monday's closing price. The price of gold moved higher this morning to $4,063.40 per troy ounce as of 8:20 a.m. ET.
Gold has traded in a tight range near $4,000 over the past week, as investors watch for updates on the Iran war and await an interest rate decision next week. The fighting in the Middle East continued after President Trump vowed revenge for the death of American soldiers. Trump is reportedly considering expanding the attacks against Iran.
The Fed meets next week and will announce its next interest rate decision on Wednesday. According to CME FedWatch, most expect no change to the fed funds rate, but there is a 16.6% chance of a 25-basis-point rate increase.
Continued fighting in the Middle East likely raises the inflation risk, which in turn increases the chances of higher interest rates. While gold is viewed as an inflation hedge, higher interest rates can encourage lower gold prices because some investors will move into yield-bearing **** ets for the interest income.
#middle #east
8 days ago
