Gold price today, Monday, March 2: Gold opens 2.8% higher, following violence in the Middle East

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Gold (GC=F) futures opened astatine $5,393 per ounce connected Monday, up 2.8% from Friday's closing terms of $5,247.90. This is gold’s largest close-to-open summation since Nov. 28, 2025. The terms of the yellowish metallic besides roseate successful aboriginal trading.

This latest rally follows the outbreak of unit successful the Middle East. The U.S. and Israel launched airstrikes against Iran Saturday, reportedly sidesplitting Supreme Leader Ali Khamenei and different apical officials. The attacks are inactive underway, and American casualties person been reported.

The warfare has affected banal futures, lipid prices, and the terms of gold. Futures for the large banal indexes are trending lower, and lipid prices person increased. More costly lipid could interaction inflation, which successful crook influences Fed interest-rate actions. Gold stands to summation amid planetary struggle and inflationary pressures, some of which typically summation safe-haven demand.

The opening terms of golden futures connected Monday roseate 2.8% 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: +5.3%

  • One period ago: +12.2%

  • One twelvemonth ago: +87.4%

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.

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