According to CoinMeta, on August 31, 2026, the opening price of gold futures was $4,483.20 per ounce, a decrease of 1% from the closing price of last Friday. As of 8:22 a.m. Eastern Time, the price of gold rose to $4,507.20 per ounce. The intensification of military conflicts in the Middle East and market expectations of an upcoming interest rate hike by the Federal Reserve have put pressure on precious metal prices. The United States' military actions against Iran have lasted for over a month, and this attack on Iranian rocket launchers marks the first escalation since July, driving up oil prices and sparking concerns about inflation, which in turn has further depressed gold prices.