Gold prices today, Monday, August 31, 2026: Gold sinks following U.S. strikes on Iran
Gold prices fell on Monday, August 31, 2026, after the United States conducted strikes against Iran. The December gold futures opened at $4,483.20 per troy ounce, a 1.0% decrease from Friday's closing price. Despite a slight increase to $4,507.20 per troy ounce at 8:22 a.m. ET, renewed conflict in the Middle East and speculation about the Federal Reserve's potential rate hikes were contributing factors to the decline.
The price of gold had surged over 95% in the past year, and the recent events in the Middle East, coupled with the Federal Reserve's focus on keeping prices low, have weighed on precious metal prices.
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