Gold remained below $4,000 an ounce on Friday and was down more than 3% for the week, as escalating US-Iran tensions drove oil prices higher, fueling inflation concerns and strengthening expectations that the Federal Reserve will keep interest rates elevated. Geopolitical tensions intensified after Tehran launched fresh strikes on US facilities in the Middle East, following a sixth consecutive night of US attacks on Iranian military targets that continued to disrupt traffic through the Strait of Hormuz. Fed officials also reinforced the hawkish outlook. Dallas Fed President Lorie Logan called for another rate hike, while Vice Chair Philip Jefferson said he would support tighter policy if inflation failed to improve in the near term. Markets are now pricing in roughly a 50% chance of a September rate increase. On the data front, US consumer and producer prices both declined in June, largely due to lower energy costs, while import prices unexpectedly rose.

Gold rose to 4,016.95 USD/t.oz on July 17, 2026, up 1.03% from the previous day. Over the past month, Gold's price has fallen 4.59%, but it is still 19.87% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Gold reached an all time high of 5608.35 in January of 2026. Gold - data, forecasts, historical chart - was last updated on July 19 of 2026.

Gold rose to 4,016.95 USD/t.oz on July 17, 2026, up 1.03% from the previous day. Over the past month, Gold's price has fallen 4.59%, but it is still 19.87% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 4090.93 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4389.32 in 12 months time.



Price Day Month Year Date
Gold 4,016.95 40.77 1.03% -4.59% 19.87% Jul/17
Silver 55.90 0.403 0.73% -14.86% 46.45% Jul/17
Copper 6.22 -0.0760 -1.21% -2.42% 12.05% Jul/17
Steel 3,102.00 -29.00 -0.93% 0.58% -1.08% Jul/17
Lithium 152,000.00 1000 0.66% -9.12% 128.06% Jul/17
Platinum 1,612.50 -30.00 -1.83% -5.55% 12.26% Jul/17
Iron Ore 98.88 0.07 0.07% -2.23% 1.71% Jul/17



Related Last Previous Unit Reference
United States Gold Reserves 8133.46 8133.46 Tonnes Mar 2026
Russia Gold Reserves 2304.75 2326.52 Tonnes Mar 2026
Italy Gold Reserves 2451.84 2451.87 Tonnes Mar 2026
India Gold Reserves 880.52 880.18 Tonnes Mar 2026
Germany Gold Reserves 3350.25 3350.25 Tonnes Mar 2026
France Gold Reserves 2437.00 2437.00 Tonnes Mar 2026
China Gold Reserves 2313.46 2306.30 Tonnes Mar 2026
United States Inflation Rate 3.50 4.20 percent Jun 2026
United States Fed Funds Interest Rate 3.75 3.75 percent Jun 2026

Gold
Gold is one of the most widely followed precious metals and is often regarded as a safe-haven asset during periods of economic uncertainty, inflation, and geopolitical risk. It plays a dual role as both an investment and a consumer good, with demand driven by financial markets, jewelry consumption, and industrial use. Gold is primarily traded on the over-the-counter London market, as well as on major exchanges such as the COMEX and the Shanghai Gold Exchange (SGE). Standard futures contracts typically represent 100 troy ounces. Globally, gold demand is led by jewelry consumption, followed by investment demand and a smaller share from industrial applications. On the supply side, China, Australia, the United States, South Africa, Russia, Peru, and Indonesia are among the largest producers. Major consumers of gold jewelry include India, China, the United States, Turkey, Saudi Arabia, Russia, and the United Arab Emirates. Gold prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
4016.95 3976.18 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold Posts Weekly Loss as Rising Oil Prices Boost Rate Expectations
Gold remained below $4,000 an ounce on Friday and was down more than 3% for the week, as escalating US-Iran tensions drove oil prices higher, fueling inflation concerns and strengthening expectations that the Federal Reserve will keep interest rates elevated. Geopolitical tensions intensified after Tehran launched fresh strikes on US facilities in the Middle East, following a sixth consecutive night of US attacks on Iranian military targets that continued to disrupt traffic through the Strait of Hormuz. Fed officials also reinforced the hawkish outlook. Dallas Fed President Lorie Logan called for another rate hike, while Vice Chair Philip Jefferson said he would support tighter policy if inflation failed to improve in the near term. Markets are now pricing in roughly a 50% chance of a September rate increase. On the data front, US consumer and producer prices both declined in June, largely due to lower energy costs, while import prices unexpectedly rose.
2026-07-17
Gold Set for Weekly Loss
Gold held below $4,000 an ounce on Friday and was on track to lose more than 3% for the week, as escalating tensions in the Middle East pushed oil prices higher, keeping inflationary pressures and interest rate concerns at the forefront. The US launched multiple strikes against Iran this week, while President Donald Trump warned that the US could target the country's infrastructure next week unless diplomatic efforts result in a breakthrough. Iran responded by launching attacks on US bases in neighboring countries, fueling fears of further escalation and a prolonged disruption to energy supplies from the region. Meanwhile, softer-than-expected US inflation data released this week has largely ruled out a July rate increase, even as Fed Chair Kevin Warsh reiterated his commitment to restoring price stability. However, markets remain divided on whether the Fed will hike rates in September, keeping the non-yielding gold under pressure.
2026-07-16
Gold Near Eight-Month Low as Oil Rally Lifts Rate Hike Bets
Gold prices fell toward $4,000 an ounce on Thursday, approaching their lowest level since November 2025, as escalating tensions in the Middle East drove oil prices higher and reinforced concerns that interest rates could remain elevated. The latest escalation followed fresh US strikes on Iranian military targets and Tehran's retaliation against US bases in neighboring countries, raising concerns over the security of the Strait of Hormuz and pushing crude oil prices to one-month highs. Higher energy prices have strengthened expectations that the Federal Reserve may need to keep monetary policy tighter for longer, reducing the appeal of non-yielding gold. Traders currently see about a 51% chance of a September rate hike. Meanwhile, softer-than-expected US inflation data released this week has largely ruled out a July increase, even as Fed Chair Kevin Warsh reaffirmed his commitment to bringing inflation under control.
2026-07-16