Gold () April futures opened at $5,107.30 per troy ounce on Thursday, 0.2% higher than Wednesday’s closing price of $5,098.50. The price of gold fell below the $5,100 threshold in early trading.
The gold price softened after January jobs data came in stronger than expected. The economy added 130,000 jobs in January, according to the U.S. Bureau of Labor Statistics jobs report that was published on Wednesday. Analysts had expected job growth of 55,000. The unemployment rate was 4.3%, down from 4.4% in December and up from 4% last year. The report also revised November and December payroll employment down by 17,000.
A labor market recovery may delay interest-rate cuts from the Fed, which could weaken gold’s short-term outlook. The Fed reduced interest rates three times in 2025 to stimulate jobs, despite inflation running above the 2% target. In December, inflation was 2.7%, according to the Consumer Price Index. The January CPI report will be published on Friday.
High interest rates keep gold’s opportunity costs — in the form of cash income — high, which can limit demand for the yellow metal.
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The opening price of gold futures on Thursday was 0.2% higher than Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:
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One week ago: +2%
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One month ago: +11.5%
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One year ago: +76%
Gold’s one-year gain on Jan. 29 was 95.6%.
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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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.
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A gold IRA is a specialty form of self-directed IRA that’s designed for gold and other precious metals.
The table below compares the main features of standard IRAs and gold IRAs.
You must work with a specialty provider that can ensure your account complies with these IRS restrictions:
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Storage: Your gold must be held in an IRS-approved facility.
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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.
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Whether you’re tracking the price of gold since last month or last year, the price-of-gold chart below shows the precious metal’s steady upward climb in value.
Learn more: Gold alternatives? How to invest in silver, platinum, and palladium.
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