Gold (GC=F) June futures opened at $4,745.30 per troy ounce on Tuesday, up 0.4% from Monday’s closing price of $4,728.70. However, gold is slipping in early trading following the CPI report, moving down to $4,701 as of 9:21 a.m. ET.
Silver (SI=F) July futures opened at $86.74 per ounce on Tuesday, a whopping 8.2% higher than Monday’s opening price of $80.15. The price of silver edged down this morning, moving to $85.19 by 9:21 a.m. ET.
This morning marks the highest opening price for silver since March 11.
Silver prices surged yesterday and are still holding onto some gains this morning as President Trump embarks on a trip to China for what many are calling a high-stakes meeting between the two world leaders. A productive meeting could spell improved trade and manufacturing for both countries, further supporting the demand for silver in an industrial capacity.
The price of gold slipped ahead of and after the release of April inflation data earlier this morning. The April Consumer Price Index report surged 3.8% year-over-year, and 0.6% since last month, driven by the war’s impact on energy prices. The producer price report will be released tomorrow.
With the president saying the ceasefire with Iran is on “massive life support,” and with inflation data bringing rate increases back to the forefront of Fed discussions, gold prices will continue to face headwinds in the days and weeks ahead.
Learn more: Who decides what gold is worth? How gold prices are determined.
Current price of gold
The opening price of gold futures on Tuesday was 0.4% higher than Monday’s closing price. Here’s a look at how the opening gold price has changed versus last week, month, and year:
One week ago: +4.3%
One month ago: No change
One year ago: +43.8%
The precious metal’s one-year gain 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.
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Current price of silver
Silver (SI=F) July futures opened 8.2% higher than Monday’s opening price. Here’s a look at how the opening silver price has changed versus last week, month, and year:
One week ago: +19.4%
One month ago: +15.2%
One year ago: +166.2%
Learn more: How to invest in silver: A beginner’s guide
Risks and considerations for gold investors
Gold has the same high-level risk as any investment: You could lose money. And, as with other investments, a loss on gold can materialize in different ways. Understanding the potential outcomes is the first step to managing your risk when investing in gold.
According to gold experts, would-be gold investors should understand…
Source: finance.yahoo.com
