Gold (GC=F) Prices on July 28, 2026: Below $4,100 Ahead of Fed Meeting

On July 28, 2026, gold August futures opened at $4,083 per troy ounce, a 0.1% increase from the previous close. However, the price fell to $4,027 by 7:24 a.m. ET. Gold has remained below $4,100 since July 14, as the Federal Reserve prepares for a two-day rate-setting meeting, with expectations for a potential rate hike increasing from 25.77% to 35.8%. A pause in U.S. airstrikes against Iran has contributed to nearly a 5% drop in oil prices over the past week. Investors should monitor gold's movements as it is influenced by Federal Reserve policies and geopolitical tensions.