Gold price today, Tuesday, October 20, 2026: Gold prices subdued again by soaring oil prices - Yahoo Finance

AI desk brief

Gold futures opened at $4,162.40/oz on Tuesday, up 0.1% from Monday’s close, but slipped to around $4,140 in early trading as Brent crude broke above $110 and printed $111.47/bbl. The move comes alongside renewed attacks on Saudi infrastructure and shipping in the Strait of Hormuz, which are keeping energy costs elevated and feeding the broader inflation/geopolitical backdrop.

On the day, gold is still down 0.8% over the past week and 5% over the past month, though it remains 95.6% above where it stood on Jan. 29 earlier this year. The article also quotes market participants stressing gold’s role as a diversification asset for central banks and investors, while warning that buying at elevated prices carries meaningful price and speculation risk.