Gold Prices Rise as U.S.-Iran Fighting Pauses
On Monday, July 27, 2026, the price of gold futures opened at $4,097.50 per troy ounce, up 0.7% from Friday's close and showing positive traction compared to previous days, weeks, months, and even a year ago. This upward movement is attributed to a temporary pause in U.S.-Iran airstrikes, which has eased geopolitical tensions and led to softer oil prices (BZ=F) falling about 6%. The respite allows gold some breathing room amid expectations of the Fed's rate decision this week. The economic calendar remains packed with key events including major earnings reports and a two-day Federal Reserve meeting concluding on Wednesday. According to CME Group’s FedWatch tool, there is a 66.3% chance that rates will remain unchanged and a 33.7% chance of an increase by 25 basis points. A weaker U.S. dollar (^NYICDX) also supports gold prices, though higher interest rates could dampen the precious metal’s appeal since it does not yield income. Gold's one-year gain stands at 22.5%, with a notable last multi-timeframe positive move observed in May.
