Spot gold tops $4,090 an ounce after $30 jump, oil slips
Gold rose 0.86% on the day while both U.S. and Brent crude fell nearly $1 a barrel, according to Gate data.
GT
Fact Check
The Odaily newsflash 506619 (2026-08-04) is the primary source and confirms all specifics of the claim: spot gold jumped $30 to top $4,090/oz (+0.86%) and both US and Brent crude fell nearly $1/barrel, all per Gate data. The follow-up Odaily 506949 corroborates the continued gold rally to $4,200 the next day.
Summary
Spot gold climbed sharply by $30 in a short-term move and broke above $4,090 per ounce, leaving the metal up 0.86% on the day, according to Gate data. At the same time, both major oil benchmarks moved lower, with U.S. crude and Brent crude each falling by nearly $1 a barrel to $75.7 and $80.1, respectively. The cross-asset move points to diverging price action between precious metals and energy in intraday trading.
Terms & Concepts
- Spot gold: Gold traded for immediate delivery.
- Brent crude: Global oil benchmark from the North Sea.