Gold Price Hits $4,038 Amid Market Volatility

The price of gold has dropped to $4,038 per ounce as of July 31, 2026, marking a $44 decrease from yesterday and a $729 jump from this time last year.

Despite the fluctuations, experts recommend adding gold to diversify holdings due to its historical tendency to appreciate over time. Gold can act as an inflation hedge within a portfolio, providing stability during turbulent markets.

James Taska, a fee-based financial advisor, notes that it is 'much easier' to rebalance a client's allocation of gold if it is owned as an exchange-traded fund (ETF), and the spread when attempting to buy/sell gold can be quite variable and wide.'