Post Content
Gold (GC=F) April futures opened at $5,175.30 per troy ounce on Thursday, 1% lower than Wednesday’s closing price of $5,226.20. In early trading, the gold price moved higher than $5,200 before pulling back.
The factors behind gold’s latest rally — the Supreme Court’s strike down of President Trump’s tariffs and escalating tensions between the U.S. and Iran — remain in play. A third round of talks between U.S. and Iranian officials began on Thursday, with the goal of negotiating the future of Iran’s nuclear program. Iran has not agreed to the U.S. request to stop enriching uranium in its territory, but other details about the negotiations are unclear. On Feb. 19, President Trump imposed a 10- to 15-day deadline to reach an agreement. As that deadline approaches, the chances of a military strike increase. The U.S. currently has two air strike groups stationed in the Middle East.
Economic uncertainty and geopolitical tensions typically increase safe-haven demand for gold, as investors seek shelter from potential volatility in stocks and other assets.
The opening price of gold futures on Thursday was 1% lower than Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
-
One week ago: +3.2%
-
One month ago: +1.9%
-
One year ago: +77.6%
Gold’s one-year gain on Jan. 29 was 95.6%.
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.
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.
The table below compares the main features of standard IRAs and gold IRAs.
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
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.