GC=F opens 0.2% lower at $4,059.80 amid sustained U.S.-Iran airstrikes and surging oil prices.
Gold August futures opened at $4,059.80 on July 15, down 0.2% from Tuesday’s close, as geopolitical risks failed to support the metal. Prices slipped to $4,035.40 in early trading despite a fourth consecutive day of U.S. airstrikes on Iranian military sites.
The decline contrasts with a 9% rally in oil futures over the past five days, driven by renewed tensions in the Strait of Hormuz. Gold’s one-week, one-month, and one-year performance stands at -1.4%, -4.9%, and +21.5%, respectively, down sharply from January’s 95.6% annual gain.
Market focus remains on the Fed’s September meeting, with traders pricing out July rate hikes but watching escalation risks closely.