Gold () futures opened at $5,020.10 per troy ounce on Monday, up 0.8% from Friday’s closing price of $4,979.80. In early trading, the price of gold moderated slightly but remained above $5,000.
Last week was volatile for gold, with per-ounce prices ranging from $4,400 to $5,082.20. According to a weekend report, China’s central bank continued to invest in gold in January, marking its 15th consecutive month of gold purchases. Strong central bank demand was a primary factor in gold’s strong 2025 performance. A weaker dollar, concerns over the Fed’s ability to operate without political influence, and expectations of lower interest rates also contributed.
In 2026, the US Dollar Index () is down over 1% for the year. However, worries about the Fed’s independence and interest rate expectations have softened after Donald Trump’s nomination of Kevin Warsh as the next Fed chair.
Attempting to manipulate the Fed and lower interest rates can increase gold demand by making the U.S. dollar less attractive for reliability and income potential.
Learn more: Gold alternatives? How to invest in silver, platinum, and palladium.
The opening price of gold futures on Monday rose 0.8% from Friday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
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One week ago: +4.4%
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One month ago: +12.2%
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One year ago: +75.5%
The one-year gain for gold 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.
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The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices investors should know about are spot prices and gold futures prices.
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The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price.
The spot price is lower than what you’d pay to buy gold coins, bullion, or jewelry, since your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, and profits. The spot price is more like a wholesale price, and the spot price plus the gold premium is the retail price.
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Gold futures are contracts that mandate a gold transaction at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They settle on the contract expiration date or earlier, either financially or via delivery. A financial cash settlement involves paying the contract’s profit or loss in cash. Delivery means the seller sends physical gold to the buyer for the contracted price.
Supply and demand determine gold spot prices and gold futures prices. Factors that influence gold supply and demand include:
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Geopolitical events
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Central bank buying trends
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Inflation
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Interest rates
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Mining production
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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 steady upward climb in value.
Learn more: Gold alternatives? How to invest in silver, platinum, and palladium.