Gold Prices Plummet Amid Fresh Escalation in Middle East Tensions The ongoing military conflict in the Middle East has sent shockwaves through global markets, causing gold prices to plummet.
On Monday, August 31, 2026, gold futures opened at $4,483. 20 per troy ounce, down 1% from Friday's closing price. This downturn comes despite a one year gain of 30. 6% in the precious metal.
The US strikes on Iranian rocket launchers have sparked concerns about oil prices and inflation, weighing heavily on gold markets.