Wednesday brought falling gold prices, following the U.S. military’s destruction of five Iranian oil tankers in the Gulf of Oman. That strike pushed oil prices past $100 a barrel. The timing is notable: the attack lands exactly one week ahead of the Federal Reserve’s decision on whether to raise interest rates, a move aimed at combating rising energy costs stemming from the conflict.
On Wednesday, September 9, 2026, gold futures (GC=F) began trading at $4,399 per troy ounce, which was 0.9% below Tuesday’s close. The metal recovered somewhat by 6:34 a.m. ET, reaching $4,438.20 per troy ounce.
The Strike on Iranian Tankers
On Tuesday evening, U.S. Central Command (Centcom) said American forces had destroyed five Iranian crude oil carriers. The announcement came as a response to the IRGC’s attack on a U.S. Navy warship using ballistic missiles.
Five oil carriers were hit in total, with four of them sunk in the Gulf of Oman. M/T Kaviz, M/T Charminar, M/T Horizon 1, and M/T Riesco all went down there. The fifth vessel, M/T Derya, was attacked near Kharg Island.
On Saturday, Admiral Brad Cooper set out this policy, saying: “If you shoot at two of our ships, we will impose an even higher economic cost — taking out three of yours.”
What the Numbers Show
The metal’s Wednesday start was the weakest it had been all week. Looking at how it has fared against earlier periods makes the trend clear:
- One week ago: +1.6%
- One month ago: +2.9%
- One year ago: +20.6%
The one-year rise for gold stood at 95.6% by Jan. 29, a figure that reflects how much the price of the precious metal had climbed over that span.
The price of oil sits above $100 per barrel at present. Whether rates remain unchanged or climb to counter the jump in energy costs tied to the Iranian conflict depends on the Federal Reserve’s choice on Sept. 16.
Gold’s lack of interest payments means that higher borrowing costs could hold down its price gains.
Investing in Gold
Four main paths exist for acquiring gold, each carrying its own set of advantages and disadvantages. These include physical gold, gold mining stocks, gold ETFs, and gold futures.
Physical Gold
Gold comes in physical form as jewelry, gold bars, and gold coins. A number of people favor it for being tangible and simple to acquire. You can pick up a gold necklace at the shopping center, or gold bars at Costco (COST).
Among the benefits are instant availability for use and no extra volatility or recurring charges. According to Brett Elliott, director of content and SEO at American Precious Metals Exchange (APMEX), owning gold personally removes counterparty risk along with storage fees or expense ratios.
Physical gold carries risks, such as theft or loss, and its liquidity is limited. Selling it quickly is more difficult than selling stocks or ETFs, and finding a dealer willing to buy it at all comes with a markup charge.
Gold Mining Stocks
Gold mining stocks are equity positions in gold miners. Their profits are tied to gold prices, and the companies face “geopolitical risks and management risks,” according to Vince Stanzione, CEO and founder at financial publisher First Information.
Among the benefits are increased liquidity, particularly for large-cap stocks such as Barrick Gold Corporation (B) and Franco-Nevada Corporation (FNV), which feature a narrow bid-ask spread. Another is that stocks demand no storage space at all.
Greater volatility is among the downsides, according to Thomas Winmill, who manages a fund for Midas Funds. He said: “Gold investing through gold mining companies adds another layer of risk.”
From 2000 to 2020, gold mining stocks rose and fell fast.
Gold ETFs and Futures
Investors can gain exposure to gold through ETFs without taking physical possession of the metal itself, while futures contracts allow traders to place bets on where gold prices will move in the future.
Each one offers a means of taking part without having to purchase actual bars or coins.
Alternatives to Gold
For those who look past gold, Yahoo Finance follows the day-to-day cost of silver (SI=F) alongside the daily price of bitcoin (BTC-USD) and ethereum (ETH-USD).
Yahoo Finance’s Screener makes the complete list of top-performing companies in the gold industry accessible, letting users build custom screens using more than 150 distinct criteria.
The Fed’s Sept. 16 decision is on the horizon, and gold prices continue to be watched closely as the conflict persists.
Source: finance.yahoo.com
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