According to CoinMeta, on August 26, 2026, the price of gold fell from a high of over $4,700 in the morning to $4,674.60 per ounce, an increase of 0.5% from Tuesday's closing price. Gold futures opened at $4,715.70 on Wednesday and briefly reached a high of $4,730.90 in the early session. The rise in gold prices was driven by the U.S. Treasury Department's decision to double its purchases of long-term debt, while the situation in the Middle East remained relatively calm. Negotiations between Iran and Oman regarding the opening of a shipping route through the Strait of Hormuz even caused the price of Brent crude oil to fall below $86 per barrel, with a decrease of over 6% in the past five days.