Gold price today, Monday, February 2: Gold slides over 5%

Gold (GC=F) futures opened astatine $4,490 per troy ounce connected Monday, down 5.4% from Friday’s closing terms of $4,745.10. Week-over-week, the April futures terms is down implicit 11%.

Despite the existent sell-off, the golden terms is inactive up astir 60% since this clip past year.

Stock investors whitethorn besides beryllium connected borderline Monday — S&P futures (ES=F) are presently down 0.3%, Dow Jones futures (YM=F) are down 0.04%, and Nasdaq 100 futures (NQ=F) are down 0.6%.

Upcoming economical information and net reports whitethorn clarify uncertainty. With the 4th fourth net play ongoing, the U.S. employment study and a preliminary user sentiment speechmaking are owed connected Friday. So far, the S&P 500 is reporting double-digit net maturation vs. the anterior twelvemonth for the 5th consecutive quarter.

Gold often moves successful the other absorption of banal prices, but that narration didn’t clasp successful 2025 erstwhile golden and the S&P 500 had double-digit gains.

The opening terms of golden futures connected Monday fell 5.4% from Friday’s close. Here’s a look astatine however the opening golden terms has changed versus past week, month, and year:

• One week ago: -11.6%

• One period ago: +3.2%

• One twelvemonth ago: +58.7%

The one-year summation for golden was 95.6% connected Jan. 29.

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The terms of golden tin beryllium quoted successful aggregate forms due to the fact that the precious metallic is traded successful antithetic ways. The 2 main golden prices investors should cognize astir are spot prices and golden futures prices.

Learn more: How to put successful golden successful 4 steps

The spot terms of golden is the existent marketplace terms per ounce for carnal golden arsenic a earthy material, sometimes called spot gold. Gold ETFs that are backed by carnal golden assets mostly way the golden spot price.

The spot terms is little than what you’d wage to bargain golden coins, bullion, oregon jewelry, since your full terms volition see a markup called the golden premium that covers refining, marketing, trader overhead, and profits. The spot terms is much similar a wholesale price, and the spot terms positive the golden premium is the retail price.

Learn more: Thinking of buying gold? Here's what investors should ticker for.

Gold futures are contracts that mandate a golden transaction astatine a circumstantial terms connected a aboriginal date. These contracts are exchange-traded and much liquid than carnal gold. They settee connected the declaration expiration day oregon earlier, either financially oregon via delivery. A fiscal currency colony involves paying the contract’s nett oregon nonaccomplishment successful cash. Delivery means the seller sends carnal golden to the purchaser for the contracted price.

Supply and request find golden spot prices and golden futures prices. Factors that power golden proviso and request include:

1. Geopolitical events

2. Central slope buying trends

3. Inflation

4. Interest rates

5. Mining production

Learn more: Who decides what golden is worth? How prices are determined.

Whether you’re tracking the terms of golden since past period oregon past year, the price-of-gold illustration beneath shows the precious metal’s dependable upward ascent successful value.

Learn more: Gold alternatives? How to put successful silver, platinum, and palladium.