Gold prices today, Monday, July 13, 2026: Prices move lower following weekend airstrikes
Gold prices opened lower and are moving lower still following several exchanges of airstrikes between the U.S. and Iran over the weekend. Geopolitical events continue to be the most influential driver of precious metal prices.
Intelligence analysis by Llama
Gold prices are moving lower following weekend airstrikes between the U.S. and Iran. Geopolitical events are driving precious metal prices, with oil prices increasing by over 9% in the last five-day period.
Imagine you have a big jar of gold coins. The price of gold is like how much money you would get if you sold all the coins in the jar. When there are big events happening in the world, like wars or conflicts, people get nervous and want to sell their gold coins. This makes the price of gold go down. But if the conflict gets worse, people might want to buy more gold coins to be safe, which would make the price go up.
Analysis
A $60B Vote of Confidence
Gold prices are moving lower following weekend airstrikes between the U.S. and Iran. The conflict has sent oil prices over 9% higher in the last five-day period, carrying gas prices higher right along with them. The longer these conflicts continue, the more inflation will remain a central focus for the Fed in its upcoming rate decisions. Higher rates tend to put downward pressure on gold prices.
Why Geopolitical Events Matter
Geopolitical events continue to be the most influential driver of precious metal prices. The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price. The spot price is lower than what you'd pay to buy gold coins, bullion, or jewelry, since your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, and profits.
The Road Ahead
The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices investors should know about are spot prices and gold futures prices. Gold futures are contracts that mandate a gold transaction at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They settle on the contract expiration date or earlier, either financially or via delivery.
Key points
- Gold prices are moving lower following weekend airstrikes between the U.S. and Iran.
- Geopolitical events continue to be the most influential driver of precious metal prices.
- Oil prices have increased by over 9% in the last five-day period.
- The longer the conflict continues, the more inflation will remain a central focus for the Fed in its upcoming rate decisions.
- Higher rates tend to put downward pressure on gold prices.
If the conflict between the U.S. and Iran is resolved soon, gold prices might stabilize and even increase as investors become more confident in the global economy. Additionally, if the Fed decides to lower interest rates, it could also lead to an increase in gold prices.
On the other hand, if the conflict continues to escalate, gold prices might continue to decline as investors become more risk-averse. Additionally, if the Fed decides to raise interest rates, it could also lead to a decrease in gold prices.
