Gold started trading at $3,055.10 on Monday, showing a 3.58% decrease from its peak levels reached the previous week in response to the trade tariffs announced by U.S. President Donald Trump on April 2. Even though gold typically benefits from stock market declines, the current economic uncertainty is causing fluctuation in its price.
The spot price of gold dropped to $3,012 on Friday from the opening value of $3,110.15. Despite a 3.17% decrease, there was a slight improvement from the intraday low of $3,011. Gold has shown a 16.77% increase since the beginning of the year but experienced a 2.55% decline last week due to the tariff issues.
Last week saw the S&P 500 fall by 9.1%, with notable single-day drops. The U.S. dollar also weakened, contrary to the expected impact of the tariffs. Concerns about a potential recession and inflation are making investors uneasy about the U.S. economy, prompting them to turn to gold as a safe-haven asset during periods of currency and stock market turmoil.
Gold opened at $3,055.10 today, marking a 1.43% increase from Friday's closing. Compared to a month ago, the opening price was 5.05% higher than on March 7, and it was 31.37% higher than a year ago.
For real-time tracking of gold prices, Yahoo Finance offers 24/7 coverage. The platform also provides information on top-performing companies in the gold industry via the Yahoo Finance Screener, which allows users to create customized screens using various criteria.
Investing in gold involves setting goals, determining an allocation, choosing a form of investment, and considering the investment timeline. Gold is often sought for diversification, protection against inflation, and as a wealth reserve during economic uncertainties. Its historical value appreciation and potential to act as a currency alternative make it a popular choice for investors seeking stability in volatile market conditions.
Three common ways to invest in gold are through physical gold, gold mining stocks, and gold ETFs. Investors can purchase physical gold from local dealers or explore gold mining stocks and ETFs on platforms like Yahoo Finance. Gold's value has historically been volatile, but its long-term appreciation makes it a valuable asset for a balanced investment portfolio.
For those interested in the historical value of gold, Yahoo Finance has been tracking gold prices since 2000, providing insights into its performance over the years.