Gold December (GC=F) futures opened at $4,133.80 this morning, Wednesday, August 5, 2026, down 0.5% compared to Tuesday’s closing price.
The price of gold was up this morning to $4,245.80 as of 7:54 a.m
ET. Opening gold prices have been in a holding pattern this week north of $4,100 and rising appreciably this morning after President Trump said a deal to reopen the Strait of Hormuz could happen as early as Wednesday. While there have been numerous positive signals regarding reopening the strait this week, including Iran discussing a Hormuz deal directly with Oman and allowing certain European countries to help clear mines from the strait, it’s unclear to what extent the U.S. and Iran have been negotiating directly.
Gold investors will continue to monitor negotiations in the Middle East and the July employment report set to be released on Friday. Both will factor into future Fed decisions on whether to raise interest rates following the Fed’s September meeting. Current price of gold The opening price of gold futures on Wednesday, August 5, 2026, was down 0.5% compared to Tuesday’s closing price.