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Gold (GC=F) futures opened at $4,230.50 per troy ounce Tuesday, down 1% from Monday’s closing price of $4,274.80. The opening price of gold is down 2% from its all-time high of $4,358, achieved in October.
Investors continue to watch the near-term interest-rate outlook. Bets remain high that the Fed will initiate a quarter-point rate cut next week, according to CME FedWatch. However, expected economic releases this week could strengthen or weaken the case for lower rates. ADP will share its November employment report Wednesday, and the U.S. Labor Department will publish the initial jobless claims data for the week of Nov. 29 on Thursday. Personal income, spending, and PCE data for September will be available Friday.
Interest-rate reductions typically increase the demand for gold.
Learn more: Who decides what gold is worth? How gold prices are determined.
Current price of gold
The opening price of gold futures on Tuesday was 1% lower than Monday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
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One week ago: +2.5%
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One month ago: +4.9%
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One year ago: +59.7%
On Nov. 14, gold’s one-year gain was 63.4%.
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.
Learn more: Gold vs. crypto: Which should investors own in debasement trade?
Risks and considerations for gold investors
Gold has the same high-level risk as any investment: You could lose money. And, as with other investments, a loss on gold can materialize in different ways. Understanding the potential outcomes is the first step to managing your risk when investing in gold.
According to gold experts, would-be gold investors should understand these four risks:
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Price
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Speculation
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Opportunity cost
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Fraud
Today, we’ll focus on the first two: price and speculation.
Learn more: How to invest in gold in 4 steps
Price risk
There is a price risk for investors who buy gold when the metal is nearing record high prices. “Buying high to hope for short-term higher is a tough strategy,” said Darrell Fletcher, managing director, commodities at Bannockburn Capital Markets.
Despite the high prices, there are positive dynamics in play for the precious metal. Fletcher pointed out that gold is recovering from decades of low prices, and it’s an increasingly popular diversification asset for central banks and individual investors.
The right expectations, a long timeline, and an appropriate allocation can limit your pricing risk. “Gold should not be seen as a driver of supercharged returns — it’s there to act primarily as a stabilizer in a diversified portfolio,” explained Alex Tsepaev, chief strategy officer of B2PRIME Group.
If you are interested in learning more about gold’s historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
Speculation risk
Thomas Winmill, portfolio manager at Midas Funds, encourages investors to view positions in gold bullion, coins, and ETFs as speculative. Gold is a commodity, and “commodity prices are dependent on macroeconomic, political, industrial, and financial factors that are unpredictable, and in some cases, unknowable.”
Despite its recent performance, gold is an unpredictable asset. Keeping that in mind when making trading decisions could protect you from over-exposure and unrealistic expectations.
Learn more: Thinking of buying gold? Here's what investors should watch for.
Price-of-gold chart
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.
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