Gold prices fell about 1% to around $4,030 an ounce on Tuesday as a stronger US dollar and mounting uncertainty ahead of Wednesday's Federal Reserve policy decision weighed on the precious metal. The dollar hovered near a four-week high as markets priced in more than a one-third chance of a rate hike, an unusually high degree of uncertainty this close to a Fed meeting despite repeated calls from President Donald Trump for lower interest rates. Traders also continue to price in roughly an 80% probability of a rate hike in September, reinforcing expectations that borrowing costs could remain elevated. Meanwhile, oil prices edged lower as hopes for easing tensions between the US and Iran reduced demand for safe-haven assets. On Monday, Trump said Washington was holding "good talks" with Iran and that a deal to resolve the conflict remained possible, though he warned military strikes could resume if negotiations fail.

Gold fell to 4,020.60 USD/t.oz on July 28, 2026, down 1.39% from the previous day. Over the past month, Gold's price has risen 0.11%, and is up 20.87% compared to the same time last year, 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 28 of 2026.

Gold fell to 4,020.60 USD/t.oz on July 28, 2026, down 1.39% from the previous day. Over the past month, Gold's price has risen 0.11%, and is up 20.87% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gold is expected to trade at 4120.17 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 4430.86 in 12 months time.



Price Day Month Year Date
Gold 4,015.58 -61.86 -1.52% -0.02% 20.72% Jul/28
Silver 56.94 -1.470 -2.52% -2.29% 49.01% Jul/28
Copper 6.30 -0.0392 -0.62% 3.32% 11.79% Jul/28
Steel 3,049.00 -12.00 -0.39% -0.23% -8.77% Jul/28
Lithium 145,500.00 -1000 -0.68% -4.12% 98.91% Jul/28
Platinum 1,606.50 -25.70 -1.57% 0.89% 14.28% Jul/28
Iron Ore 98.30 -0.05 -0.05% -1.95% -0.69% Jul/28



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
4020.60 4077.44 5608.35 34.83 1968 - 2026 USD/t oz. Daily

News Stream
Gold Drops as Firm Dollar, Fed Uncertainty Weigh
Gold prices fell about 1% to around $4,030 an ounce on Tuesday as a stronger US dollar and mounting uncertainty ahead of Wednesday's Federal Reserve policy decision weighed on the precious metal. The dollar hovered near a four-week high as markets priced in more than a one-third chance of a rate hike, an unusually high degree of uncertainty this close to a Fed meeting despite repeated calls from President Donald Trump for lower interest rates. Traders also continue to price in roughly an 80% probability of a rate hike in September, reinforcing expectations that borrowing costs could remain elevated. Meanwhile, oil prices edged lower as hopes for easing tensions between the US and Iran reduced demand for safe-haven assets. On Monday, Trump said Washington was holding "good talks" with Iran and that a deal to resolve the conflict remained possible, though he warned military strikes could resume if negotiations fail.
2026-07-28
Gold Slips on Fed Rate Hike Concerns
Gold slipped to around $4,050 an ounce on Tuesday, giving back the previous session’s gains amid lingering concerns that the Federal Reserve could raise interest rates this week. Markets are currently pricing in an over one-third chance of a Fed rate increase on Wednesday, an unusually high level of uncertainty this close to a Fed meeting compared with recent years. Citadel Securities also said it expects the Fed to raise rates this week to reinforce Chairman Kevin Warsh’s credibility in fighting inflation after the central bank chief repeatedly pledged to restore price stability. Gold also came under pressure even after President Donald Trump said the US was engaged in "good talks" with Iran to end the Middle East conflict, pushing oil prices lower and easing concerns over inflation and interest rate hikes. However, Trump warned that the US is prepared to resume strikes against the Islamic Republic if negotiations fail.
2026-07-28
Gold Steadies as US-Iran Talks Eyed
Gold steadied near $4,100 an ounce on Tuesday, retaining most of the previous session’s gains after President Donald Trump said the US was engaged in "good talks" with Iran to end the Middle East conflict, sending oil prices lower and easing concerns over inflation and interest rate hikes. However, Trump also warned that the US is ready to resume strikes against the Islamic Republic if negotiations break down. The US suspended its attacks on Iran late Friday following nearly two weeks of hostilities, while Tehran also halted retaliatory strikes against US bases in neighboring countries. Investors are also awaiting the Federal Reserve’s policy decision this week, with policymakers widely expected to leave interest rates unchanged. While some traders continue to speculate about a possible rate hike this week amid renewed inflationary pressures, most expect the next increase to come in September.
2026-07-27