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Gold Holds Firm Near $4,100 Ahead of Fed Rate Decision Amid Renewed U.S.-Iran Tensions
Gold August futures opened down 0.4% on Wednesday, July 29, 2026, but quickly rose to $4,090. Gold prices have remained steady near $4,100 for the past two weeks, even as the U.S. and Iran reignited attacks. The Federal Reserve is set to conclude its two-day rate-setting meeting this afternoon. The CME Group's FedWatch tool indicates a 64.2% chance the Fed will leave rates unchanged. Geopolitical tensions and high oil prices are creating opposing forces on gold's price.
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