Gold Price Today, August 3: Spot Gold Rises 0.7% to $4,067 as Oil Slumps on Iran De-Escalation

Gold price today: spot gold up 0.7% at $4,067.06/oz. US gold futures up 0.9% at $4,065.60. Gains driven by a slump in oil prices and easing inflation concerns.

Updated: 3 Aug 2026 • 10:00 am

Posted by:

Gold Price Today, August 3: Spot Gold Rises 0.7% to $4,067 as Oil Slumps on Iran De-Escalation

Gold price today moved higher, with spot gold up 0.7% at $4,067.06 per ounce on Monday after oil prices tumbled following US President Donald Trump holding off on a fresh attack on Iran in hopes of a swift deal. US gold futures rose 0.9% to $4,065.60.

Click Here – Get Free Investment Predictions

The pullback in crude prices slightly eased concerns about inflation and higher interest rates, a combination that has historically supported gold as a hedge. The gold price today reflects this shift in sentiment, with easing geopolitical risk around the Strait of Hormuz weighing on oil even as gold found support from softer rate expectations.

Metric	Value	Change
Spot gold	$4,067.06/oz	+0.7%
US gold futures	$4,065.60	+0.9%
Brent crude (context)	$83.85	-4.64%

Table of Contents

Why Gold Price Today Is Rising

The key driver behind the move is the sharp fall in crude oil, which tumbled $4 a barrel after Trump held off on a fresh Iran attack, seeking a swift deal to reopen the Strait of Hormuz. Lower oil prices reduce near-term inflation risk, which in turn supports gold by easing pressure for aggressive rate hikes.

Track gold-linked and commodity-sensitive stocks on the Univest Screener

Gold Price Today vs Broader Market Sentiment

The move comes alongside a broader improvement in global risk sentiment, with easing geopolitical tensions also supporting equity markets. Gold and risk assets moving higher together is a signal that markets are pricing in reduced near-term uncertainty rather than a flight to safety.

Download the Univest iOS App or Univest Android App to track gold price today and market-linked stocks live.

How Gold Price Today Compares With Recent Trading Sessions

Gold has been trending higher through recent sessions as investors weigh a mix of geopolitical risk, central bank policy expectations and currency moves. The move seen today extends that broader pattern, with the metal continuing to attract demand as a portfolio diversifier even as equity markets also traded higher on the same set of catalysts.

Domestic gold rates in India, which factor in import duty, GST and currency conversion on top of the international spot price, typically move in the same direction as global gold prices but with some lag through the trading day. Investors tracking domestic jewellery and bullion rates should account for this basis difference when comparing local prices with the international benchmark.

Conclusion

The gold price today rose 0.7% to $4,067.06 per ounce, supported by a slump in crude oil prices after Trump held off on a fresh Iran attack. Investors watching gold alongside equities should track how oil and geopolitical developments evolve through the week, and consult a SEBI-registered advisor before making investment decisions.

Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).

Frequently Asked Questions

What is the gold price today?

Ans. The gold price today is $4,067.06 per ounce for spot gold, up 0.7 percent, while US gold futures rose 0.9 percent to $4,065.60.

Why did gold rise today?

Ans. Gold rose mainly because oil prices tumbled after Trump held off on a fresh attack on Iran, easing inflation concerns.

How does oil price affect the gold price today?

Ans. Lower oil prices ease inflation pressure, which can reduce the need for aggressive interest rate hikes, a dynamic that historically supports the gold price today.

Is the gold price today expected to rise further?

Ans. Gold price movements depend on inflation data, interest rate expectations and geopolitical developments. Track the gold price today live and consult a SEBI-registered advisor before investing.