Gold prices today, July 15, 2026, are seeing a decline as airstrikes continue in the Middle East. The August gold futures opened at $4,059.80 this morning, down 0.2% compared to Tuesday’s closing price. As of 7:41 a.m. ET, the price of gold is moving down to $4,035.40.

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The ongoing airstrikes, which have targeted Iranian military sites for the fourth consecutive day, are a significant concern for investors. The situation is escalating tensions between the US and Iran, which could impact global markets and oil prices. Yesterday’s softer-than-expected inflation report and the renewed escalations in July have sent oil prices sharply upward, with a 9% increase in the last five days.

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While most market observers are confident that the Fed will not raise interest rates later this month to battle inflation, September will remain a focal point, especially if the violence continues. The current price of gold is a topic of interest for investors, with the opening price of gold futures down 0.2% compared to Tuesday’s opening price.

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For context, here’s how the opening gold price has changed versus last week, month, and year:

• One week ago: -1.4%
• One month ago: -4.9%
• One year ago: +21.5%

The advantages of physical gold include:

• Readily accessible for use: If you keep your physical gold at home, it is easily available to use as a medium of exchange in an economic emergency.
• No added volatility or ongoing fees: If you hold the gold yourself, you eliminate counterparty risk and storage fees or expense ratios.

The disadvantages of physical gold include:

• Risk of theft or loss: Physical gold must be properly secured. You can store it at home for free, or invest in third-party storage and insurance.
• Lower liquidity: Physical gold is less liquid — that is, harder to sell quickly — than stocks or ETFs.

Gold mining stocks are equity positions in gold miners. They can be volatile because their profits are tied to gold prices, plus these companies are heavily exposed to geopolitical risks and management risks. The advantages of gold mining stocks include:

• Greater liquidity: Large-cap gold mining stocks like Barrick Gold Corporation and Franco-Nevada Corporation generally enjoy a narrow bid-ask spread, which is a sign of liquidity.
• No storage requirements: Stocks live in your brokerage account and do not consume physical space.

The disadvantages of owning gold mining stocks include:

• Greater volatility: Gold investing through gold mining companies adds another layer of risk.
• No utility as a medium of exchange: Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange.

Gold ETFs are funds that track the price of gold. They can invest in physical gold stores, gold mining stocks, gold futures, or some combination of these. The advantages of Gold ETFs include:

• Easy to store: Like gold mining stocks, ETF shares are digital assets with no storage requirements.
• Greater liquidity: Shares of the most popular gold ETFs, like SPDR Gold Shares and iShares Gold Trust, are heavily traded.

The disadvantages of gold ETFs include:

• Fund fees: Funds charge fees, which dilute returns over time.
• No utility as a medium of exchange: As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency.

Gold futures are standardized contracts to purchase gold on a future date at a specific price. The contracts often represent 100 troy ounces. The advantages of gold futures are:

• Leverage: You can control a large amount of gold with a low capital outlay.
• Convenience: You don’t need to store physical gold to earn from its price changes.

The disadvantages of investing in gold futures are:

• Risk: Leverage amplifies gains and losses. This is always risky, but especially so with an unpredictable asset like gold.
• Complexity: The complexity of futures contracts can be off-putting to many retail investors.