Gold (GC=F) December futures opened at $4,400 per troy ounce on Monday, August 10, 2026, flat compared to Friday's closing price. As of 8:22 a.m. ET, the price of gold edged down to $4,391.50.

Gold prices opened at their highest level since early June, following a disappointing employment report on Friday that prompted many analysts to pare back their expectations of a rate increase by the Federal Reserve next month. Because gold does not pay interest, shifts in rate expectations can matter for demand as investors weigh the metal against yield-bearing assets.

With no major changes to the tenor of negotiations between the U.S. and Iran, President Trump said the U.S. is "low-keying it." Market observers are now looking ahead to two key inflation reports scheduled for later this week, which are expected to show that price pressures continue to mount for Americans. It remains to be seen whether this week's inflation reports will be sufficient to alter the trajectory of rate-hike expectations.

Current Price of Gold

The opening price of gold futures on Monday, August 10, 2026 was unchanged from Friday's closing price. Compared to prior periods, the opening gold price has changed as follows:

• One week ago: +7.8%
• One month ago: +6.7%
• One year ago: +28%

For additional context, the one-year gain for gold stood at 95.6% on January 29.

Gold Prices Explained

The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices investors should be aware of are spot prices and gold futures prices.

The Spot Price

The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes referred to as spot gold. Gold ETFs backed by physical gold assets generally track the gold spot price.

The spot price is lower than what consumers pay for gold coins, bullion, or jewelry, since the total purchase price includes a markup known as the gold premium. This premium covers refining, marketing, dealer overhead, and profits. The spot price functions similarly to a wholesale price, while the spot price plus the gold premium constitutes the retail price.

Gold Futures

Gold futures are contracts that mandate a gold transaction at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They settle on the contract expiration date or earlier, either through financial settlement or physical delivery. A financial cash settlement involves paying the contract's profit or loss in cash. Delivery means the seller sends physical gold to the buyer for the contracted price.

Factors That Affect Gold Prices

Supply and demand determine both gold spot prices and gold futures prices. Key factors that influence gold supply and demand include:

• Geopolitical events
• Central bank buying trends
• Inflation
• Interest rates
• Mining production