Gold Climbs to About $4,187 an Ounce on Friday as an Equity Sell-Off and Lower Bond Yields Lift Safe-Haven Demand

Global gold reached $4,187.14 an ounce at midday on Friday, 16 October 2026 (24 Mehr 1405), up 0.39 percent from the previous day. Donya-e-Eqtesad had reported a rate of $4,168 a few hours earlier on Friday morning. According to Trading Economics, the recent sell-off in equities has lifted demand for government bonds and precious metals and pushed bond yields sharply lower, easing pressure on non-yielding assets such as gold.

The same report lists West Asian geopolitical risks, including escalating fighting between Saudi Arabia and Yemen's Houthis and the sinking of a container ship in the Strait of Hormuz this week, among the factors supporting the price. Working the other way, US economic data stronger than forecast has reinforced expectations of further Federal Reserve rate increases. Gold is down 3.55 percent over the past month and about 25 percent below its late-January 2026 peak.

Iran's domestic gold and coin market is closed on Friday, and the global ounce is the reference for its pricing in Iran.