Gold prices are on the move again! On Friday, August 1, 2025, gold (GC=F) futures opened strongly at $3,342.70 per ounce, a significant 1.5% jump from Thursday's closing price of $3,293.20. This week's trading has seen gold fluctuate between a low of $3,263.90 and a high of $3,352, reached early Friday morning.
Why the Sudden Surge?
The upward trend in gold prices is largely attributed to President Donald Trump's recent announcement of new tariffs ranging from 10% to 41% on goods from various countries. These tariffs, scheduled to take effect on August 7 or October 5 depending on shipping dates, have injected uncertainty into global markets.
One notable exception is Mexico, which has been granted a 90-day extension for trade negotiations, as announced by Trump on social media. The S&P 500 experienced a 3% dip yesterday before gold's rebound.
Gold's Performance Over Time
While Friday's opening price is nearly flat compared to the opening price of $3,344 one week ago on July 25, gold has shown consistent gains over the past month and year. Compared to the opening price of $3,310.10 on July 1, 2025, gold futures have gained 1% in the last month. Looking back a year, gold is up a substantial 36.6% from the opening price of $2,446.70 on August 1, 2024.
Keep an Eye on the Market
For real-time gold price updates, remember that you can monitor the current price of gold on Yahoo Finance 24/7. Also, if you're keen to know more about the top-performing companies in the gold sector, you can leverage the Yahoo Finance Screener to explore a list of leading companies and even create your own customized screeners.
Is this the right time to invest? The market is volatile, but gold's recent performance suggests it remains a valuable asset in uncertain times. Don't miss out!