Gold futures opened at $4,413 per troy ounce on Monday, September 21, 2026, down 0.3% from Friday's close, then slipped further to $4,394.80 by mid-morning. The pullback comes as Middle East tensions keep oil prices elevated and investors watch the UN General Assembly for signs of de-escalation.
Gold opened at $4,413 per troy ounce on Monday, down 0.3% from Friday's closing price, then eased further to $4,394.80 as of 9:14 a.m. ET. The metal opened at its highest level in over a week before slipping back into last week's range.
Middle East tensions keep energy and safe-haven demand elevated
Reports of recent attacks from Yemen's Iran-backed Houthis on a Saudi Arabian oil pipeline and oil facility have kept global oil prices hanging around the $100-a-barrel mark, keeping energy prices elevated in the U.S. and globally. Separately, spot gold and December 2026 COMEX contracts showed prices hovering around $4,360 to $4,371 per troy ounce, with futures near $4,409, according to Crypto Briefing's read of the market.
The United Nations General Assembly this week puts a spotlight on the region's conflicts. According to Yahoo Finance: "he will use his meetings with world leaders to push for de-escalation in the Middle East". He is also pushing for a ceasefire in Ukraine, now in the fifth year of Russia's full-scale invasion.
Gold still trades well above year-ago levels
Despite the dip, gold's opening price on Monday remains up 20% from a year ago, though it is down 3.6% from a month ago and up 0.9% from a week ago. The one-year gain for gold reached 95.6% on Jan. 29.
Central bank purchasing activity and ETF inflow patterns remain key indicators for where prices go next, and any shift in the Federal Reserve's interest rate policy could affect gold's appeal as a safe-haven asset. Gold remains near record-high levels even after the modest pullback, pointing to persistent safe-haven demand amid the geopolitical uncertainty.
Sources: Yahoo Finance, Crypto Briefing
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