Global gold ends the week down about 1.5% near $4,100

Spot gold ended the week to Friday, July 10, 2026 in the $4,100 to $4,120 an ounce range, down about 1.5% from the previous week. On Friday the metal traded near $4,104 an ounce, off roughly 0.4% on the session.

The main drag was an almost 5% weekly surge in global crude prices after renewed Iran and US tensions in the Strait of Hormuz, which revived inflation fears. Markets are now pricing a near 60% chance of a Federal Reserve rate hike at the September meeting, and higher rates weigh on non-yielding gold.

Sahmino's latest tracked spot price is $4,121 an ounce (updated early Saturday, July 11). The global ounce is the primary anchor for gold and coin prices in Iran's domestic market.