December gold futures fall to $4,447.20 per ounce as rising 10-year Treasury yields near 4.72% weigh on non-yielding assets.
Gold December futures dropped to $4,447.20 per troy ounce by 9:10 a.m. ET on August 18, 2026, down from an opening price of $4,473.40. The decline follows a surge in the 10-year Treasury yield to 4.72%, its highest level in nearly a year, as stalled Iran-U.S. peace talks fuel safe-haven demand for bonds.
Gold had risen 1.5% over the past week, 12.5% over the past month, and 34.2% year-over-year. Earlier this year, the one-year gain peaked at 95.6% on January 29. The metal’s recent rally contrasts with today’s pullback, driven by higher opportunity costs for holding non-yielding assets.
Geopolitical tensions in the Strait of Hormuz, including reports of a vessel struck by an unknown projectile, have added to market uncertainty. President Trump’s suggestion to claim the strait as U.S. territory further escalated concerns, though no immediate market reaction was reported.