Gold Prices Remain Below $4,100 Ahead of Fed Meeting
On Tuesday, July 28, 2026, gold futures opened at $4,083 per troy ounce but dropped to $4,027 in the morning session. The price has remained below $4,100 since mid-July and is trading within a narrow range ahead of the Federal Reserve's two-day rate-setting meeting scheduled for today through tomorrow. Market expectations suggest an increased likelihood of a 25 basis point rate hike by the Fed, with probability rising from 25.77% last week to 35.8%. Meanwhile, geopolitical tensions have eased as U.S.-Iran hostilities are paused ahead of potential peace talks aimed at reopening the Strait of Hormuz and resuming oil exports. This has led to a nearly 5% drop in oil prices over five days. Gold's one-week return is up by about 2%, while its annual gain stands at 22.7%. Analysts caution investors on price speculation risks, noting that gold should be viewed as a portfolio stabilizer rather than a high-return investment.
Topics: Federal Reserve meeting gold prices U.S.-Iran tensions