Gold (GC=F) August futures opened at $4,068.90 per troy ounce on Thursday, July 16, 2026up 0.4% compared to Wednesday’s closing price. The price of gold moved lower this morning, trading at $4,041.10 as of 8:02 a.m. ET.
Gold prices remain just above $4,000 an ounce this morning as the U.S. continues to strike Iranian military sites for the fifth straight day. The back-and-forth attacks from both countries have once again led to the closing of the Strait of Hormuz and the implementation of a U.S. naval blockade on Iranian ports.
While both sides don’t seem interested in relenting their positions, the U.S. says it’s still open to negotiations and remains focused on reopening the strait, in which about a fifth of the world’s oil and natural gas once flowed.
The renewed military actions by the U.S. and Iran have once again put pressure on energy prices for consumers worldwide, prompting analysts to bet on higher interest rates at some point this year. Higher interest rates are a natural headwind for gold prices since the precious metal doesn’t pay interest.
Current price of gold
The opening price of gold futures on Thursday, July 16, 2026was up 0.4% from Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
One week ago: +0.1%
One month ago: -5.6%
One year ago: +21.8%
For context, gold’s year-over-year growth was 95.6% on Jan. 29.
24/7 gold price tracking: Don’t forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week.
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Gold IRA: What it is, how it works
If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.
Learn more: How to invest in gold in 4 steps
A gold IRA is a specialty form of self-directed IRA that’s designed for gold and other precious metals.
Gold IRA vs. traditional IRA
The table below compares the main features of standard IRAs and gold IRAs.
IRS restrictions
You must work with a specialty provider that can ensure your account complies with these IRS restrictions:
Storage: Your gold must be held in an IRS-approved facility.
Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.
Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
Price of gold chart
Whether you’re tracking the price of gold since last month or last year, the price of gold chart below shows the precious metal’s value journey so far this year.