MoneyWorks4Me

Gold futures finish higher on safe haven appeal

22 Jul 2026 Evaluate
Gold futures finished higher on Tuesday, bolstered by safe haven appeal in midst of intensifying US-Iran diplomatic standoffs and escalating security threats to commercial vessels in the Red Sea. However, elevated oil prices due to Gulf supply disruptions have limited the gains in gold prices. Meanwhile, investors await the ?U.S. Federal Reserve's ?interest rate decision ?and Chair Kevin Warsh's comments following the central bank's two-day policy meeting scheduled for July 28–29, 2026.

Gold futures for August delivery surged by $60.50 to 1.50% to settle at $4,076.40 an ounce on the Comex division of the New York Mercantile. While, spot gold soared by $61.96 or 1.52% to $4,138.95 an ounce.

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