Gold (GC=F) August futures opened at $3,980.10 per troy ounce on Friday, July 17, 2026, down 0.3% from Thursday’s closing price. The gold price moved slightly higher this morning to $3,998.10 at 8:02 a.m. ET.
A sixth straight day of airstrikes against Iranian targets has pushed gold prices down to levels last seen eight months ago in November 2025. While the back-and-forth attacks between the U.S. and Iran aren’t as intense as they were back in March and April, we’ve seen a steady escalation this week, with the U.S. now striking critical roads and bridges, along with key military targets.
Despite the U.S. bombardment, Iran has refused to relinquish control of the Strait of Hormuz, holding firm on their most compelling bargaining chip, and retaliating with their own airstrikes across the Middle East.
Oil prices have risen considerably this week following consecutive days of fighting, prompting many to believe the Fed will raise rates at least once this year to combat rising energy prices caused by the war with Iran. The longer the fighting continues and the Strait of Hormuz remains cut off to oil tankers, the harder it will be for gold prices to gain any true momentum.
Current price of gold
The opening price of August gold futures on Friday, July 17, 2026, was 0.3% lower compared to Thursday’s opening price. Here’s a look at how the gold price has changed versus last week, month, and year:
One week ago: -3.4%
One month ago: -8.3%
One year ago: +20.1%
On Jan. 29, gold’s one-year gain was 95.6%.
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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How much gold should you own?
A gold investment can add stability and inflation protection to your portfolio. But it can also dilute your gains when stock prices are rising quickly. Finding the right balance between gold’s diversification benefits and profiting from growth potential in other assets can be challenging.
Even the experts are divided on how to achieve the correct balance. Below, five experts explain their recommended gold allocations, which range from 0% to 20%.
Learn more: How to invest in gold in 4 steps
No gold: Trade-off is too high
Robert R. Johnson, professor at Creighton University’s Heider College of Business, does not advocate gold investing. In his words, “while having a small position in precious metals may dampen portfolio volatility in the short-run, the tradeoff between slightly dampened volatility and the lost long-term return is certainly not a prudent…
Source: finance.yahoo.com
