Archive · 24 Jul 2026
Gold Drops 2% Amid Middle East Tensions
Gold prices dropped by 2% on Thursday because of tensions in the Middle East.
This made oil prices go up, which worries people about inflation.
When inflation is high, central banks might keep interest rates higher for longer.
Gold doesn't pay interest, so when interest rates go up, gold becomes less attractive to investors.
Other metals like silver, platinum, and palladium also fell in price.
Investors are waiting to see what the U.S. Federal Reserve will do with interest rates next week.
Gold prices fell 2.1% to $4,043.14 per ounce due to Middle East tensions.
Higher oil prices raised inflation concerns and expectations of higher interest rates.
U.S. gold futures for August delivery settled 2.5% lower at $4,050.20.
Brent crude prices hit $100 per barrel, the highest since late May.
Investors are pricing in an 83% chance of a Fed rate hike in September.
- Who
- Market analysts and investors
- What
- Gold prices fell 2% due to Middle East tensions and inflation fears
- When
- July 23
- Where
- Global markets
- Why
- Increased energy prices and expectations of higher interest rates
Market Analysts
Investors
Impact of Higher Oil Prices
Market Analysts
Higher crude oil prices push up bond yields, making gold less attractive due to its lack of yield.
Investors
Investors are concerned about the potential for higher interest rates, which could further diminish gold's appeal.
- Gold Price
- $4,043.14 per ounce
- U.S. Gold Futures
- $4,050.20 per ounce
- Brent Crude Price
- $100 per barrel
- Fed Rate Hike Probability
- 83%
- Silver Price
- $57.44 per ounce
- Platinum Price
- $1,590.58 per ounce
- Palladium Price
- $1,256.50 per ounce