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Line chart showing gold prices holding near $4,020 despite an overnight missile attack on US forces.

Iran's overnight missile attack on US forces sent oil prices sharply higher, yet gold barely moved from its prior close. Economist Richard Thaler's concept of mental accounting helps explain the split: investors are pricing the war and the Federal Reserve's rate decision as separate risks rather than one combined threat. Gold's muted reaction reflects a market currently treating Wednesday's Fed outcome, not five months of conflict, as the reference point that matters most for the metal.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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© 2026 The Canadian Index. A public reference library of Canadian financial market charts, updated daily from public market data. See the Legal and Usage Terms page for full disclaimers.