Gold (GC=F) June futures opened at $4,547.60 per troy ounce on Monday, down 0.3% from the previous close of $4,561.90. Gold was even lower in early trading, falling to $4,541.50 at 6:47 am ET.
Silver (SI=F) July futures opened at $76.21 an ounce on Monday, 1.7% lower than the previous closing price. The price of silver fell in early trading to $75.95 at 6:47 am ET.
Once again, Truth Social’s presidential posts are part of the headlines this morning. Last week, it was the weekend of President Trump’s reaction to the peace proposal from Iran, calling it “TOTALLY UNACCEPTABLE!” Today, the markets are reacting to his post on Sunday, saying, “On Iran, the Clock is ticking, and they better go, FAST, or there won’t be anything left for them.”
There is also talk of drone strikes over the weekend, and stock futures are lower this morning, oil prices are higher, Treasury yields are higher, and gold and silver prices are lower.
Last week, silver prices were at their highest since mid-March, but they look poised to erase all those gains this week.
Current price of gold
The opening price of gold futures on Monday was down 0.3% from Friday’s closing price. 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: -3.8%
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One month ago: -4.7%
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One year ago: +40.9%
Gold’s one-year gain 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 Monday was 1.7% lower than Friday’s closing price. Here’s how the opening silver price has changed over the past week, month, and year:
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One week ago: -11%
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One month ago: -7.5%
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One year ago: +136.8%
Read more: How to invest in silver: A beginner’s guide
Gold prices are defined
The price of gold can be quoted in many ways because the precious metal is traded in different ways. The two major gold prices that investors should be aware of are current prices and gold futures prices.
Read more: How to invest in gold in 4 steps
Local price
The spot price of gold is the current market price per ounce of physical gold as a raw material, sometimes called spot gold. Gold ETFs backed by physical gold assets typically track the spot price of gold.
The spot price is lower than what you would pay to buy gold coins, bullion, or jewelry, as your total price will include a markup called the gold premium that includes refining, marketing, dealer overhead, and profit. The spot price is the same as the wholesale price, and the spot price plus the gold premium is the wholesale price.
Read more: Thinking of buying gold? Here’s what investors should watch.
The future of gold
Gold futures are contracts that authorize the sale of gold at a certain price at a future date. These contracts are exchangeable and more liquid than physical gold. They pay on or before the contract expiration date, either in cash or on delivery. A cash settlement in finance involves paying the profit or loss of a contract in cash. Delivery means that the seller sends physical gold to the buyer at the contract price.
Factors affecting gold prices
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
Read more: Who decides what gold is? How prices are determined.
Gold and silver price charts
Whether you’re tracking the price of gold and silver from last month or last year, the price of gold and silver charts below show the change in the price of precious metals.
More silver coverage from the Yahoo Finance team:
