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Gold Price Declines on July 31
Gold prices are moving today, Friday, July 31, 2026, towards recording their first monthly gains in five months, as investors watch the tensions between the United States and Iran and the signals from the U.S. Federal Reserve regarding the inflation trajectory and interest rates. The spot gold price decreased by 0.2% to $4,096.29 per ounce, but is on track to achieve a weekly increase of 1.1%. Meanwhile, August futures contracts for gold rose by 0.1% to $4,094.10, maintaining a monthly upward trend of over 2.2%, its strongest monthly performance since February. This comes after the Federal Reserve kept interest rates unchanged and provided no clear indications of the next move. Additionally, a report from the World Gold Council showed that global demand for gold remained stable at 1,268.9 tons in the second quarter, with central banks increasing their purchases to compensate for declining investment demand.
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