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Silver $58.83 Β· Oil surges past $98 after Houthi attacks on Saudi tankers ‌ ‌ ‌ ‌ ‌
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Gold Mornings
Your weekday morning read on gold, metals and miners.
Issue #24 Β· Thursday, July 23, 2026
Gold volatility (GVZ)  Cautious Β· 24.0  β–² from 23.9 yesterday
Worth noting  Gold crossed below $4,100 since yesterday.
Gold and silver fell modestly while mining stocks rose sharply; geopolitical tensions in Red Sea and upcoming Fed meeting dominate sentiment.
 
 

●  The Numbers

Gold$4,087.30  -1.44%
+2.55% this week
Silver$58.83  -1.97%
+5.25% this week
Platinum$1,629.80  -0.82%
-0.36% this week
Palladium$1,270.00  -2.53%
+0.51% this week
Copper$6.47  +0.28%
+2.75% this week

●  The Movers

Leaders

AEM Agnico Eagle+3.83%
NEM Newmont+3.52%
GDX Gold Miners ETF+3.36%

Laggards

PA=F Palladium-2.53%
SI=F Silver-1.97%
GC=F Gold-1.44%

The day's best and worst of the tracked metals and miners Β· day-over-day change.

●  The Read

Gold β€” description, not prediction

Trading below both its 50-day ($4,267.85) and 200-day ($4,477.88) averages β€” the longer-term trend reads as down. 30-day range $3,985.60–$4,358.90; currently in the lower third of that range. RSI(14) 48 β€” momentum roughly neutral.

See where every market sits on the daily page β†’

What's pushing gold today: the dollar & Treasury yields  on the Dollar & Yields page β†’

●  The Brief

 Oil surges past $98 after Houthi attacks on Saudi tankers

Houthi militants attacked Saudi oil tankers in the Red Sea, pushing crude above $98 per barrel. Energy-price spikes often strengthen safe-haven demand for gold and precious metals. (Investing)

 EU agrees 21st sanctions package against Russia

European Union ambassadors approved additional sanctions on Russia, escalating geopolitical tension. Broadening sanctions historically support safe-haven flows into gold and other precious metals. (Investing)

 Gold near two-week high as Fed meeting nears

Gold trades near recent highs with the Federal Reserve meeting upcoming and oil prices rising. Fed decisions on interest rates directly affect gold yields and investor demand. (Investing)

 US and Saudi Arabia reach nuclear power deal

The US and Saudi Arabia announced a nuclear energy agreement, signaling deepening energy partnerships. Major geopolitical and trade developments can shift capital flows and safe-haven demand. (Investing)

Partner

The charts we read every morning

TradingView is the charting platform a lot of "The Read" leans on β€” live gold, silver and miner charts, screeners and alerts. New to it? This link puts $15 toward a paid plan.

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Metals 101

What is COMEX?

The New York exchange where most gold and silver futures trade. Its most-active contracts set the headline price moves you see quoted for the metals each day.

β€œMetals mirror the dollar and the day's mood β€” a description, not a forecast.”

Gold Mornings is an educational digest for US readers. Nothing here is financial, investment, tax, or legal advice. Metals carry risk β€” you can lose money, and past performance does not predict future results. Some links may be affiliate links; we may earn a commission at no cost to you. Prices via Yahoo Finance, captured each morning before the US open.

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