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Gold holds below $4,100 as traders await next week’s rate decision
August gold futures opened at $4,053.4 per troy ounce after rising slightly, while investors weighed lower-than-expected jobless claims against interest rate risk from the Fed meeting next week.
Gold prices edged higher on Friday, July 24, 2026, but remained below $4,100 after pulling back from a move above that level on Thursday. Yahoo Finance said August gold futures opened at $4,053.4 per troy ounce and traded around $4,057 at 8:07 a.m. ET, up 0.1% from Thursday's close.
The article attributed the market's focus to a balance of potential U.S. interest rate pressure and risk factors tied to the Middle East conflict. It noted that investors were looking to incoming economic data for guidance on whether rates could stay higher for longer.
Among the data highlighted, jobless claims fell to 187,000 new claims versus a median forecast of 212,000. Yahoo Finance added that a stronger labor market could support higher interest rates later in the year if inflation remains above the Fed's 2% long-term target.
It also pointed to central bank positioning, saying the European Central Bank held interest rates steady on Thursday and the consensus expects the Fed to do the same at its next meeting. The story linked higher rates to lower gold prices by increasing the opportunity cost of holding the metal.
Latest closeGold $4,051.10 ▼2.3%