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Gold prices today, Wednesday, August 5, 2026: Gold prices are holding, awaiting news on Hormuz deal
Tim Manni·
Wed, August 5, 2026 at 5:38 PM GMT+5:30
6 min read
Gold December (GC=F) futures opened at $4,133.80 this morning, Wednesday, August 5, 2026, down 0.5% compared to Tuesday’s closing price. The price of gold was up this morning to $4,245.80 as of 7:54 a.m. ET
Opening gold prices have been in a holding pattern this week north of $4,100 and rising appreciably this morning after President Trump said a deal to reopen the Strait of Hormuz could happen as early as Wednesday
While there have been numerous positive signals regarding reopening the strait this week, including Iran discussing a Hormuz deal directly with Oman and allowing certain European countries to help clear mines from the strait, it’s unclear to what extent the U.S. and Iran have been negotiating directly
Gold investors will continue to monitor negotiations in the Middle East and the July employment report set to be released on Friday. Both will factor into future Fed decisions on whether to raise interest rates following the Fed’s September meeting
Current price of gold
The opening price of gold futures on Wednesday, August 5, 2026, was down 0.5% compared to Tuesday’s closing price. Here’s how the opening gold price has changed versus last week, month, and year:
One month ago: +1.6%
One year ago: +22.4%
For context, on Jan. 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 aboutthe 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
Considering a gold alternative?
If you’re looking for a gold alternative, Yahoo Finance also tracks the daily price of silver (SI=F) and the daily price of bitcoin (BTC-USD) and ethereum (ETH-USD)
Learn more:Gold alternatives? How to invest in silver, platinum, and palladium
Ways to invest in gold
There are different ways to invest in gold, and each has pros and cons. Four common options are:
Physical gold
Gold mining stocks
Gold ETFs
Gold futures
Physical gold
Physical gold includes jewelry, gold bars, and gold coins. Some prefer physical gold over other forms because it’s tangible and easy to purchase. You can easily buy a gold necklace at the mall or gold bars at Costco (COST).
Intrigued by Costco’s precious metals offering?Read more here to learn key considerations for precious metals investing, the details of the Costco selection, and tips for managing your new investment
Physical gold pros and cons
The advantages of physical gold include:
Readily accessible for use:If you keep your physical gold at home, it is easily available to use as a medium of exchange in an economic emergency
No added volatility or ongoing fees: If you hold the gold yourself, “you eliminate counterparty risk and storage fees or expense ratios,” explained Brett Elliott, director of content and SEO at American Precious Metals Exchange (APMEX). You also avoid the added business volatility associated with gold mining stocks, as explained below.
Learn more:Take a deeper dive into the gold sector
The disadvantages of physical gold include:
Risk of theft or loss:Physical gold must be properly secured. You can store it at home for free, or invest in third-party storage and insurance. Remember that fees associated with storage or insurance dilute your returns.
Lower liquidity:Physical gold is less liquid — that is, harder to sell quickly — than stocks or ETFs. Also, if you are not using the gold as a medium of exchange, you must find a dealer and pay a markup on the sale
Learn more:How to invest in gold in 4 steps
Gold mining stocks
Gold mining stocks are equity positions in gold miners. They can be volatile because their profits are tied to gold prices, plus these companies are heavily exposed to “geopolitical risks and management risks” CEO and founder at financial publisher First Information. To manage the volatility, many investors prefer diversified gold mining funds over individual mining stocks.
Gold mining stocks pros and cons
The advantages of gold mining stocks include:
Greater liquidity: Large-cap gold mining stocks like Barrick Gold Corporation (B) and Franco-Nevada Corporation (FNV) generally enjoy a narrow bid-ask spread, which is a sign of liquidity. The bid-ask spread is the difference between what buyers will pay and what sellers will accept
No storage requirements:Stocks live in your brokerage account and do not consume physical space. In normal times, this is an advantage. In an economic catastrophe, this could be a disadvantage if brokers or the stock market are temporarily shut down
Learn more:The top-performing companies in the gold industry
The disadvantages of owning gold mining stocks include:
Greater volatility:”Gold investing through gold mining companies adds another layer of risk,” explained Thomas Winmill, portfolio manager at mutual fund company Midas Funds.From 2000 to 2020, gold mining stocks have risen and fallen faster than gold spot prices. In recent years, gold mining stocks have trended down as gold spot prices have gained value
No utility as a medium of exchange: Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange
Learn more:Who decides what gold is worth? How gold prices are determined
Gold ETFs
Gold ETFs are funds that track the price of gold. They can invest in physical gold stores, gold mining stocks, gold futures, or some combination of these. The largest gold ETF in terms of total assets is SPDR Gold Shares (GLD), which is backed by physical gold stored in vaults.
Gold ETFs pros and cons
The advantages of Gold ETFs include:
Easy to store:Like gold mining stocks, ETF shares are digital assets with no storage requirements
Greater liquidity: Shares of the most popular gold ETFs, like SPDR Gold Shares (GLD) and iShares Gold Trust (IAU), are heavily traded. Steady demand makes them easy to sell.
Tied directly to gold prices: ETFs backed by physical gold track the spot price of gold, which is usually less volatile than gold mining stocks or gold mining ETFs
Learn more:Gold IRA: Benefits, risks, and how it differs from a traditional IRA
The disadvantages of gold ETFs include:
Fund fees: Funds charge fees, which dilute returns over time. For context, the expense ratio of SPDR Gold Shares is 0.40%. This translates to $4 in fees annually for every $1,000 invested
No utility as a medium of exchange: As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency
Gold futures
Gold futures are standardized contracts to purchase gold on a future date at a specific price. The contracts often represent 100 troy ounces. According to Stanzione, among gold investing options, gold futures carry “the highest risk and are best left to professional traders.”
Learn more:Gold alternatives? How to invest in silver, platinum, and palladium
Gold futures pros and cons
The advantages of gold futures are:
Leverage:You can control a large amount of gold with a low capital outlay.
Convenience: You don’t need to store physical gold to earn from its price changes
The disadvantages of investing in gold futures are:
Risk:Leverage amplifies gains and losses. This is always risky, but especially so with an unpredictable asset like gold.
Complexity: The complexity of futures contracts can be off-putting to many retail investors.
Learn more:Thinking of buying gold? Here’s what investors should watch for
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
4,263.30+110.70(+2.67%)
As of 9:34:47 AM EDT. Market Open.
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