August gold futures fall 0.9% to $4,068.10 as geopolitical risks drive safe-haven demand but higher rates loom.
Gold August futures opened at $4,106.60 per troy ounce on July 13, 2026, down 0.2% from Friday’s close, before sliding further to $4,068.10 by 8:29 a.m. ET. The decline follows weekend airstrikes between the U.S. and Iran, fueling uncertainty over Strait of Hormuz shipping routes.
Prices remain 1.6% lower over the past week and 2.4% below last month’s levels, though still up 23.3% year-over-year. Earlier this year, gold’s one-year gain peaked at 95.6% on January 29. Escalating conflicts have pushed oil prices up 9% in five days, raising inflation concerns that could prompt Fed rate hikes.
Higher interest rates typically pressure gold, which pays no yield, offsetting its safe-haven appeal amid geopolitical risks.