Spot Gold Rose About 1.6% on Tuesday, Pulling Back From a Nine-Month Low as US-Iran Talk Hopes Lifted Prices

Spot gold rose about 1.6% on Tuesday, 21 July 2026, to near $4,072 an ounce, pulling back from the nine-month low near $4,008 it had touched that morning. The rebound was driven by short covering and hopes for a resumption of US-Iran talks and a proposed ceasefire.

Silver also climbed sharply on Tuesday, reaching near $59 an ounce. Easing fears of a wider war modestly tempered safe-haven demand, though the market remains cautious about the path of negotiations.

Global gold is the direct benchmark for Iran's domestic coin and gold market: the international ounce, together with the exchange rate, sets the price of the Emami coin and each gram of 18-carat gold.