August gold futures climb to $4,098.30 per ounce amid paused airstrikes and softer oil prices ahead of the Fed meeting.
Gold August futures opened at $4,097.50 per troy ounce on July 27, 2026, up 0.7% from Friday’s close, as diplomatic efforts resumed between the U.S. and Iran. The price held steady at $4,098.30 as of 8:13 a.m. ET, supported by a 6% drop in oil prices and a weaker dollar.
Year-over-year, gold has surged 22.5%, with gains of 2.4% and 0.5% over the past week and month, respectively. The Fed’s two-day meeting concluding Wednesday remains a key focus, with markets pricing a 66.3% chance of unchanged rates and a 33.7% probability of a 25 basis point hike.
A potential rate increase could cap gold’s upside, as the metal does not yield interest. Traders are also monitoring earnings reports and geopolitical developments for further direction.