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Silver $61.83 Β· Houthis attack Saudi oil tanker in Red Sea ‌ ‌ ‌ ‌ ‌
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Gold Mornings
Your weekday morning read on gold, metals and miners.
Issue #33 Β· Wednesday, August 5, 2026
Gold volatility (GVZ)  Cautious Β· 23.5  β–Ό from 23.6 yesterday
Worth noting  Gold crossed above $4,200 since yesterday.
Gold and silver rose sharply today as geopolitical tensions in the Red Sea kept safe-haven demand elevated amid cautious market volatility.
 
 

●  The Numbers

Gold$4,231.60  +3.33%
+4.88% this week
Silver$61.83  +2.96%
+6.86% this week
Platinum$1,772.60  +1.45%
+11.48% this week
Palladium$1,386.50  +2.30%
+11.30% this week
Copper$6.65  +0.49%
+6.02% this week

●  The Movers

Leaders

GC=F Gold+3.33%
SI=F Silver+2.96%
NEM Newmont+2.47%

Laggards

HG=F Copper+0.49%
PL=F Platinum+1.45%
AEM Agnico Eagle+2.16%

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

●  The Read

Gold β€” description, not prediction

Between its 50-day ($4,176.29) and 200-day ($4,478.32) averages β€” a trend in transition. 30-day range $3,985.60–$4,231.60; currently in the upper third of that range. RSI(14) 69 β€” momentum firm.

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

 Houthis attack Saudi oil tanker in Red Sea

Yemen's Houthis reported attacking a Saudi oil tanker, escalating Red Sea tensions. Such geopolitical disruptions typically support gold as a safe-haven asset. (Investing)

 Trump says US and Iran having very good discussions

President Trump indicated progress in US-Iran negotiations. Easing geopolitical risk could reduce safe-haven demand for precious metals going forward. (Investing)

 Artemis Gold raises Blackwater mill cost to C$120M

Artemis Gold increased its Blackwater mill expansion budget in British Columbia, signaling higher development costs for mid-tier gold producers. (Mining.com)

 Copper forms double top near $6.7160

Copper has formed a technical double-top pattern, a potential reversal signal. Copper demand closely tracks economic health and industrial activity. (Investing)

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Metals 101

Why is gold priced the same worldwide?

Because it trades around the clock across London, New York and Asia, arbitrage keeps prices in line everywhere once you adjust for currency. Local coins differ only by premium, tax and shipping.

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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