Gold prices today, Thursday, August 6, 2026: Gold prices surge as Hormuz inches closer to reopening

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Gold prices today, Thursday, August 6, 2026: Gold prices surge as Hormuz inches closer to reopening

Tim Manni ·

Thu, August 6, 2026 at 4:07 PM GMT+3 2 min read

Gold (GC=F) December futures opened at $4,307 per troy ounce on Thursday, August 6, 2026, flat compared to Wednesday's closing price but up over 4% from yesterday's opening price. The price of gold moved up some more this morning, trading at $4,309 as of 9:07 a.m. ET.

Gold opened over $4,300 an ounce for the first time since June 17 this morning as negotiations to partially reopen the Strait of Hormuz progress, and July job numbers from ADP showed a slowdown compared to the previous month.

Getting oil and natural gas flowing once again through the strait will have a positive impact on energy costs, and softer job numbers could both reduce the chances the Fed raises interest rates following its September meeting, which would be a natural headwind for gold prices.

Current price of gold

The opening price of gold futures on Thursday, August 6, 2026, was up over 4% from Wednesday's opening price. Here's a look at how the opening gold price has changed versus last week, month, and year:

• One week ago: +6.1%

• One month ago: +3.2%

• One year ago: +27.4%

For context, gold's year-over-year growth was 95.6% on Jan. 29.

24/7 gold price tracking: Don't forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week.

Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Gold IRA: What it is, how it works

If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.

Learn more: How to invest in gold in 4 steps

A gold IRA is a specialty form of self-directed IRA that's designed for gold and other precious metals.

Gold IRA vs. traditional IRA

The table below compares the main features of standard IRAs and gold IRAs.

IRS restrictions

You must work with a specialty provider that can ensure your account complies with these IRS restrictions:

1. Storage: Your gold must be held in an IRS-approved facility.

2. Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.

Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA

Price of gold chart

Whether you're tracking the price of gold since last month or last year, the price of gold chart below shows the precious metal's value journey so far this year.

(GC=F )

Go deeper with AlphaSpace

4,320.70 +15.50 (+0.36%)

As of 3:30:18 AM EDT. Market Open.

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