Gold Hits $4,400 as Dollar Weakens and Iran Conflict Flares

Gold rose 0.6% to $4,400.15 per ounce on August 17, 2026, per Reuters. Gold pays no interest, so when the dollar weakens and the Fed looks less likely to raise rates, holding gold becomes more attractive. The collapse of the U.S.-Iran ceasefire — no extension discussed, a shipping blockade reimposed in July — drove worried investors toward gold as a safe haven.