The LBMA PM auction price on 31 July was $4,026.60 (lbma.org.uk).
Resolved 31 Jul 2026
How this resolves
The multi resolves on the band containing the LBMA afternoon (PM) gold auction price in US dollars for 31 July 2026, published at lbma.org.uk; if the auction is not published that day, the previous business day's PM price applies.
The pattern behind it
2 of 4
In 2 of 4 major peak-to-trough episodes gold reclaimed its record within about two years; in the other 2 the peak held for nine and twenty-eight years. The pattern is split down the middle, and both bear cases (1980, 2011) began exactly like this one: real rates rising after a mania.
Gold has fallen 20% or more from a record four times in modern history. The results split evenly. Twice gold set a new record within about two years. Twice the peak was followed by a long slump that lasted most of a decade or more.
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