August gold futures rise slightly after opening lower as escalating airstrikes disrupt shipping and stoke inflation fears.
Gold August futures opened at $4,087.60 per troy ounce on July 9, 2026, before climbing to $4,110.60 in early trading. The modest gain follows a week of lower openings as U.S.-Iran hostilities resume, ending a fragile ceasefire and reigniting concerns over supply disruptions in the Strait of Hormuz.
Prices remain under pressure despite the uptick, with gold down 5.7% over the past month but still up 24.3% year-over-year. Earlier this year, annual growth peaked at 95.6% in late January. The conflict has pushed oil prices higher, raising expectations that the Fed may delay rate cuts to combat inflation.
Market reaction has been muted, with gold’s movement reflecting cautious sentiment amid geopolitical uncertainty.