Gold (GC=F) June futures opened at $4,702.20 per troy ounce on Thursday, the highest opening price since April 27. The price of gold moved higher this morning, trading at $4,742.10 as of 6:35 a.m. ET.
Silver (SI=F) July futures opened at $77.83 per ounce on Thursday, its highest opening price since April 23. The silver price also rose higher in early trading, moving up to $80.87 as of 6:35 a.m. ET.
What a difference a week makes. Last week, our headline here was that gold and silver prices were rising as the U.S. considered renewed airstrikes. This morning, investors around the world are digesting a new report that the U.S. sent Iran a one-page proposal that would reopen the Strait of Hormuz and lift the U.S. naval blockade.
Gold, silver, platinum, oil, and stocks are all reacting positively to the news. Brent crude prices were down to $99.10 a barrel as of 6:17 a.m. ET this morning, down over 2% in the last day. U.S. stocks are holding near all-time highs before the opening bell this morning, thanks to U.S.-Iran optimism and AI-fueled earnings.
The highs we have observed so far this morning for gold and silver are the highest prices since April 20 and April 17, respectively.
Current price of gold
The opening price of gold futures on Thursday was 0.3% higher than Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
-
One week ago: +3.1%
-
One month ago: +1.7%
-
One year ago: +37.5%
Gold’s year-over-year growth was 95.6% on Jan. 29.
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.
Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.
Current price of silver
The opening price of silver futures on Thursday was up 0.7% from Wednesday’s close. Here’s how the opening silver price has changed versus last week, month, and year:
-
One week ago: +9%
-
One month ago: +8.3%
-
One year ago: +137.3%
Learn more: How to invest in silver: A beginner’s guide
Gold IRA: What it is, how it works
If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.
Learn more: How to invest in gold in 4 steps
A gold IRA is a specialty form of self-directed IRA that’s designed for gold and other precious metals.
Gold IRA vs. traditional IRA
The table below compares the main features of standard IRAs and gold IRAs.
IRS restrictions
You must work with a specialty provider that can ensure your account complies with these IRS restrictions:
-
Storage: Your gold must be held in an IRS-approved facility.
-
Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.
Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
Price of gold and price of silver charts
Whether you’re tracking the price of gold and silver since last month or last year, the price-of-gold and price-of-silver charts below show the precious metals’ value journey so far this year.
More silver coverage from the Yahoo Finance team: