Gold (GC=F) June futures opened at $4,548 per troy ounce on Thursday, up 0.3% from Wednesday’s close of $4,535.30. The price of gold moved lower this morning, trading at $4,514.20 as of 6:53 a.m. ET.
Gold prices continue to be stuck in the middle between signals from President Trump that the war with Iran is in its final stages, and strong rhetoric from both the U.S. and Iran that more conflict is just around the corner. Investors are laser-focused on the reopening of the Strait of Hormuz so that oil and natural gas can resume flowing to countries around the world, easing inflation levels and reducing the need for central banks to raise rates. Higher interest rates tend to limit gold prices since the precious metal doesn’t pay interest.
Current price of gold
The opening price of gold futures on Thursday was up 0.3% from Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
One week ago: -2.8%
One month ago: -3.2%
One year ago: +38.1%
Gold’s year-over-year growth was 95.6% on Jan. 29.
24/7 gold price tracking: Don’t forget you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week.
Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.
Gold IRA: What it is, how it works
If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.
Learn more: How to invest in gold in 4 steps
A gold IRA is a specialty form of self-directed IRA that’s designed for gold and other precious metals.
Gold IRA vs. traditional IRA
The table below compares the main features of standard IRAs and gold IRAs.
IRS restrictions
You must work with a specialty provider that can ensure your account complies with these IRS restrictions:
Storage: Your gold must be held in an IRS-approved facility.
Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.
Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
Price of gold chart
Whether you’re tracking the price of gold since last month or last year, the price of gold chart below shows the precious metal’s value journey so far this year.
