Gold (GC=F) April futures opened at $4,828 per troy ounce on Thursday, down 1.4% from Wednesday’s closing price of $4,896.20. In early trading, the gold price fell below $4,700.
The Fed concluded its March policymaking meeting on Wednesday, leaving interest rates unchanged. The Fed’s latest Summary of Economic Projections (SEP) showed a median forecast of one rate reduction in 2026, unchanged from the December SEP. Federal Reserve Chair Jerome Powell confirmed that the oil supply shock caused by the Iran war could prompt higher inflation and, potentially, lower spending and employment. He also noted the conflict between an elevated inflation risk and a weak labor market. Typically, the Fed raises interest rates to combat inflation and lowers rates to stimulate jobs and spending.
Gold does not pay interest, and its price responds negatively to high borrowing costs.
Yahoo Finance Video: Fed dot plot: A closer look at what officials forecast for 2026
The opening price of gold futures on Thursday was 1.4% lower 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: -6%
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One month ago: -3.7%
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One year ago: +59.1%
Gold’s one-year gain hasn’t been this low since early February. Conversely, 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.
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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.
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.
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.
Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
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.