Gold (GC=F) June futures opened at $4,702.20 per troy ounce on Thursday, the highest opening since April 27. The price of gold rose higher this morning, trading at $4,742.10 as of 6:35 am ET.
Silver (SI=F) July futures opened at $77.83 an ounce on Thursday, its highest opening price since April 23. Silver prices rebounded higher in early trading, rising to $80.87 as of 6:35 am ET.
What a difference a church makes. Last week, our headline here was that gold and silver prices were rising as the US looked at renewed airstrikes. This morning, investors around the world are digesting a new report that the US has sent Iran a one-page proposal that will reopen the Strait of Hormuz and lift the embargo on US shipping.
Gold, silver, platinum, oil, and stocks all react well to the news. Brent crude prices fell to $99.10 a barrel as of 6:17 am ET this morning, down more than 2% in the last day. US stocks held higher ahead of the opening bell this morning, thanks to US-Iran optimism and AI-backed gains.
The highs we’ve seen so far this morning for gold and silver are the highest prices since April 20 and April 17, respectively.
Current price of gold
The opening price of gold futures on Thursday was 0.3% higher than Wednesday’s close. Here’s a look at how the opening gold price has changed over the past week, month, and year:
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One week ago: +3.1%
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One month ago: +1.7%
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One year ago: +37.5%
Year-on-year growth in gold was 95.6% in Jan. 29.
24/7 gold price tracking: Don’t forget that you can monitor the current price of gold on Yahoo Finance 24 hours a day, seven days a week.
You want to learn more top performing companies in the gold industry? Check out the list of top performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screens with over 150 different test criteria.
Current price of silver
The opening price of silver futures on Thursday was up 0.7% from Wednesday’s close. Here’s how the opening silver price has changed over the past week, month, and year:
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One week ago: +9%
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One month ago: +8.3%
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One year ago: +137.3%
Read more: How to invest in silver: A beginner’s guide
Gold IRA: What it is, how it works
If you dispose of gold bars on a rainy day, there may be an opportunity to gain some tax benefits in the process. You can set up a gold IRA to hold those assets and diversify your retirement wealth.
Read more: How to invest in gold in 4 steps
A gold IRA is a special type of self-directed IRA designed for gold and other precious metals.
A gold IRA is comparable to a traditional IRA
The table below compares the main features of standard IRAs and gold IRAs.
IRS restrictions
You should work with a specialized provider who can ensure that your account complies with these IRS restrictions:
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Storage: Your gold must be stored in an IRS approved facility.
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Types of inheritance: A gold IRA can hold physical gold, silver, platinum, or palladium – but not all types of these metals are suitable. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from authorized refiners.
Read more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
Gold price and price of silver charts
Whether you’re tracking the price of gold and silver from last month or last year, the gold-price and silver-price charts below show the price journey of the precious metals so far this year.
More silver coverage from the Yahoo Finance team:
