Gold Prices Plummet to Nearly $1,500 Below January Peak
Gold and silver prices have declined from their January peaks, according to a report. As of July 27, gold was trading at $4,102 per ounce and silver at $59 per ounce.
The precious metals had reached new highs during the previous year. Gold surpassed $5,000 per ounce in 2025 and peaked just under $5,600 per ounce on January 28. Silver rose from $40 per ounce on September 1 to $116 on January 28, a 190% gain.
Experts offered varied outlooks for August. Thomas Winmill, president and portfolio manager at Midas Funds, indicated that the gold price in August may depend heavily on the conflict in Iran. He commented that if fighting in the Middle East diminishes in August, oil prices could fall to pre-Operation Epic Fury levels.
James Anderson, senior precious metals analyst at SD Bullion, anticipates a price rebound later this year but not in August. He projected a broad range for the spot gold price in August between $3,900 and $4,350 per ounce, based on technical factors.