Gold (GC=F) December futures opened at $4,656 per troy ounce on Friday, August 28, 2026, down 0.2% from Thursday’s closing price. The price of gold is pretty steady this morning at $4,650.90 per troy ounce as of 7:43 a.m. ET.
Gold prices have been pretty consistent this week and are in a holding pattern this morning ahead of what is being described as a pivotal moment for new Fed Chair Kevin Warsh and the market’s expectations for what might happen to interest rates next month.
It’s a bit of a tradition for consequential news or policy to be shared by the Fed chair at the Jackson Hole summit, but Warsh has already made it clear he doesn’t plan to operate like the Fed chairs before him.
If the Fed holds rates steady next month, gold prices will likely have more room to grow since the precious metal doesn’t pay interest. Conversely, higher interest rates naturally weigh on gold prices.
Read more: Kevin Warsh’s keynote speech comes at a pivotal moment for the Federal Reserve
Current price of gold
The opening price of gold futures on Friday, August 28, 2026, was down 0.2% from Thursday’s closing price. Here’s a look at how the opening gold price has changed versus last week, month, and year:
One week ago: +2.1%
One month ago: +15.7%
One year ago: +36.6%
For context, the one-year gain for gold 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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How much gold should you own?
A gold investment can add stability and inflation protection to your portfolio. But it can also dilute your gains when stock prices are rising quickly. Finding the right balance between gold’s diversification benefits and profiting from growth potential in other assets can be challenging.
Even the experts are divided on how to achieve the correct balance. Below, five experts explain their recommended gold allocations, which range from 0% to 20%.
Learn more: How to invest in gold in 4 steps
No gold: Trade-off is too high
Robert R. Johnson, professor at Creighton University’s Heider College of Business, does not advocate gold investing. In his words, “while having a small position in precious metals may dampen portfolio volatility in the short-run, the tradeoff between slightly dampened volatility and the lost long-term return is certainly not a prudent one, particularly for Gen Z/millennials with long investing time horizons.”
2% to 5% allocation, depending on the situation
Brett Elliott, director of…
Source: finance.yahoo.com
