Gold (GC=F) futures kicked off the week on a high note, opening at $5,013.40 per troy ounce on Monday. This marked a 0.7% increase from Friday’s closing price of $4,979.70, making it the first time gold opened above the $5,000 mark.
The surge in gold prices came in response to a weekend threat by President Trump to impose a 100% tariff on all Canadian imports if Canada enters into a trade deal with China. The vague threat, made on Trump’s Truth Social platform, is believed to be linked to Canada’s recent partnership with China in the electric vehicle and agricultural sectors. This unexpected turn of events by Trump, who initially welcomed the news of Canada’s agreement with China, has sparked uncertainty in the market and bolstered demand for safe-haven assets like gold.
Last week, Trump’s tensions with U.S. European allies over Greenland also contributed to the rise in gold prices, pushing it above $4,900 per ounce. The ongoing instability in U.S. foreign relations has not only fueled the demand for gold but has also put pressure on the U.S. dollar, which has slipped into negative territory for the year according to the US Dollar Index (DX-Y.NYB). As gold and the dollar are competing assets, any weakness in the dollar tends to benefit the price of gold.
The opening price of gold futures on Monday reflected a 0.7% increase from the previous close. Looking back over the past week, month, and year, the price of gold has shown significant gains:
– One week ago: +8.8%
– One month ago: +11.1%
– One year ago: +81.7%
With an impressive 81.7% gain over the past year, gold’s value has reached its highest point in 2025 and 2026.
Investors can track the current price of gold round the clock on Yahoo Finance. Additionally, they can explore the top-performing companies in the gold industry using the Yahoo Finance Screener, which offers over 150 different screening criteria for creating customized lists.
When it comes to investing in gold, it’s essential to understand the different ways in which gold prices are quoted. The spot price refers to the current market price per ounce for physical gold, while gold futures are contracts that stipulate a gold transaction at a predetermined price on a future date. Factors such as geopolitical events, central bank buying trends, inflation, interest rates, and mining production play a role in determining gold prices.
Regardless of whether you’re monitoring the price of gold over the past month or year, the upward trajectory of gold’s value is evident in the price-of-gold chart provided. As gold continues to be a sought-after asset for investors seeking stability and diversification in their portfolios, staying informed about the factors influencing its price is crucial for making informed investment decisions.
