Gold prices tumble to November 2025 levels as US airstrikes on Iran intensify

By Tim Manni Fri, July 17, 2026 at 5:11 AM PDT | 4 min read

Gold (GC=F) August futures opened at $3,980.10 per troy ounce on Friday, July 17, 2026, down 0.3% from Thursday's closing price. The gold price moved slightly higher this morning to $3,998.10 at 8:02 a.m. ET.

A sixth straight day of airstrikes against Iranian targets has pushed gold prices down to levels last seen eight months ago in November 2025. While the back-and-forth attacks between the U.S. and Iran are not as intense as they were in March and April, a steady escalation has occurred this week. The U.S. is now striking critical roads and bridges, along with key military targets.

Despite the U.S. bombardment, Iran has refused to relinquish control of the Strait of Hormuz, holding firm on their most compelling bargaining chip and retaliating with their own airstrikes across the Middle East.

Oil prices have risen considerably this week following consecutive days of fighting, prompting many to believe the Federal Reserve will raise rates at least once this year to combat rising energy prices caused by the war with Iran. The longer the fighting continues and the Strait of Hormuz remains cut off to oil tankers, the harder it will be for gold prices to gain any true momentum.

Current Price of Gold

The opening price of August gold futures on Friday, July 17, 2026, was 0.3% lower compared to Thursday's opening price. Here is a look at how the gold price has changed versus last week, month, and year:

• One week ago: -3.4%
• One month ago: -8.3%
• One year ago: +20.1%

On January 29, gold's one-year gain was 95.6%.

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.

How Much Gold Should You Own?

A gold investment can add stability and inflation protection to your portfolio. However, it can also dilute your gains when stock prices are rising quickly. Finding the right balance between gold's diversification benefits and profiting from growth potential in other assets can be challenging.

Even the experts are divided on how to achieve the correct balance. Below, five experts explain their recommended gold allocations, which range from 0% to 20%.

Learn more: How to invest in gold in 4 steps

No Gold: Trade-Off Is Too High

Robert R. Johnson, professor at Creighton University's Heider College of Business, does not advocate gold investing. In his words: "While having a small position in precious metals may dampen portfolio volatility in the short-run, the tradeoff between slightly dampened volatility and the lost long-term return is certainly not a prudent one, particularly for Gen Z/millennials with long investing time horizons."

2% to 5% Allocation, Depending on the Situation

Brett Elliott, director of content and SEO at American Precious Metals Exchange (APMEX), recommends setting an allocation that aligns with your investing goals.

Growth-oriented investors may be comfortable with an allocation of 10% or 15%, according to Elliott. However, income investors will prefer a smaller position because gold provides no yield. A 2% to 5% gold allocation can provide some resiliency without an excessive drag on income potential.

Learn more: Who decides what gold is worth? How gold prices are determined

5% to 8% Gold Allocation

Blake McLaughlin, executive vice president at Axcap Ventures, recommends a 5% to 8% allocation to gold.

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