Gold Up 2% to $4,102 After Federal Reserve Leaves Rates Alone

Gold rose 1.9% to $4,101.99 an ounce on July 29, 2026, after the Federal Reserve kept its key interest rate at 3.50–3.75%, where it's sat since January. The $80 one-day jump shows markets had bet on a rate cut. When it didn't happen, that money moved into gold, which earns no interest.