10:37 - 24.07.2026

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July 24, Fineko/abc.az. Global gold prices reduced amid inflationary concerns caused by price jump of crude oil Brent above $100 per barrel.

At the spot market, the price of an ounce of gold fell by 0.4% to $4,030.09, while August futures in the U.S. decreased to $4,033.20. Experts predict that prices will continue to fluctuate within the range of $3,980–4,170 in the short term.

The precious metals market was pressured by US President Donald Trump's statement about his readiness to provide a tough military response to the attacks on Saudi tankers in the Red Sea, which led to a 7% rise in oil prices.

The surge in energy prices increased expectations that the US Federal Reserve (Fed) would maintain high interest rates for an extended period or raise them in September (81% probability). The European Central Bank (ECB) also did not rule out raising rates in September.