Gold () futures opened at $5,393 an ounce on Monday, up 2.8% from Friday’s closing price of $5,247.90. This is gold’s biggest gain since November 28, 2025. The yellow metal also rose in early trade
This latest protest follows the outbreak of violence in the Middle East. The US and Israel launched airstrikes against Iran on Saturday, reportedly killing Supreme Leader Ali Khamenei and other top officials. The attacks are still going on and Americans have been killed.
The war has affected stock futures, oil prices and gold prices. Futures for major stock indexes are trending lower, and oil prices are rising. More expensive oil can affect inflation, which in turn affects the Fed’s interest rate actions. Gold stands to gain amid global conflict and inflationary pressures, both of which particularly increase demand for safe havens.
Gold opened Monday 2.8% higher than Friday’s close. Here’s a look at how gold’s opening price has changed over the past week, month and year:
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A week ago: +5.3%
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A month ago: +12.2%
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A year ago: +87.4%
The one-year gain for gold as of January 29 was 95.6%.
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The price of gold can be quoted in many forms because the precious metal is traded in different ways. The two main gold prices that investors need to know about are spot prices and gold futures prices.
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The spot gold price is the current market price per ounce for physical gold as raw material, sometimes referred to as spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price.
The spot price is lower than what you would pay to buy gold coins, bullion, or jewelry, because your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, and profit. The spot price is the same as the wholesale price, and the spot price and the gold premium are the retail price.
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Gold futures are contracts that order the delivery of gold at a specified price on a future date. These contracts are exchange traded and are more liquid than physical gold. They settle on or before the contract expiry date, either financially or by delivery. A financial cash settlement involves the payment of contract benefits or losses in cash. Delivery means that the seller sends the physical gold to the buyer for the contracted price.
Supply and demand determine gold spot prices and gold futures prices. Factors that affect the supply and demand of gold include:
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Geopolitical events
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Central Bank Purchase Trends
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inflation
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Interest rates
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Mining production
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Whether you’ve been following the price of gold for the past month or year, the gold price chart below shows the precious metal’s steady rise.
learn more: A substitute for gold? How to invest in silver, platinum and palladium.
