Gold Prices Rise Amid Oil Price Decline and China's Shift to Physical Gold

Gold prices edged up by 0.0629% on July 24, 2026, reaching $4,056 per ounce.

This modest gain was largely driven by a decline in Brent crude oil prices below $100 per barrel, which alleviated inflation concerns and allowed gold to recover some of its recent losses.

However, the Federal Reserve's likely September rate hike remains a significant headwind for gold, as higher interest rates typically increase real yields and make non-yielding assets like gold less attractive.