Gold (GC=F) futures opened at $3,477.20 per ounce on Friday, up 1.3% from Thursday’s close of $3,431.80. The price of gold briefly moved up in early trading near the all-time high of $3,485.60 before pulling back.
Analysts are watching this week’s economic updates to determine the likelihood of a Fed interest rate cut in September. Thursday, the Bureau of Economic Analysis updated the second quarter GDP to 3.3% from 3% reported earlier, signaling a resilient economy despite President Trump’s tariffs. The latest weekly initial jobless claims report came in at 229,000, down slightly from 234,000 in the prior week. Next will be the PCE inflation index report on Friday, which is expected to show an annual price change of 2.6%, even with the prior month. A higher reading could lower the chances of an interest rate reduction in September.
Lower interest rates and economic instability usually benefit gold prices, because the precious metal does not pay interest and is considered a store of value.
WATCH: This ‘cements the case’ for the Fed cutting rates in September
The opening price of gold futures on Friday is up 1.3% from Thursday’s close of $3,431.80 per ounce. Thursday’s opening price is up 3.8% from the opening price of $3,349.40 one week ago on August 22. In the past month, the gold futures price has increased 4.6% compared to the opening price of $3,323.40 on July 29, 2025. In the past year, gold is up 38.9% from the opening price of $2,504.10 on August 29, 2024.
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.
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The next time you shop Costco (COST), you may want to pick up some gold with that rotisserie chicken. Gold prices have been on a run lately, and what more convenient place can you find to buy a commodity?
In fact, the club store sells gold bars, silver coins, and platinum bars — three precious metals that many investors use to diversify their wealth.
The club store first offered gold bars in 2023, then added silver (SI=F) and platinum over the next year or so. Meanwhile, gold is hanging around its all-time high. Gold, silver, and platinum (PL=F) are all up significantly so far in 2025.
Intrigued by Costco’s precious metals offering? Read more here to learn key considerations for precious metals investing, the details of the Costco selection, and tips for managing your new investment.
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.
Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years.
In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold’s underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage.
The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold’s January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase.
If you are interested in learning more about gold’s historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
