GoldGC=F
The world's oldest store of value, traded around the clock on COMEX.
Past week: -1.00%
30-day price
Where the chart sits — description, not prediction
Trading below both its 50-day ($4,545.92) and 200-day ($4,439.32) averages — the longer-term trend reads as down. 30-day range $4,090.30–$4,720.40; currently in the lower third of that range. RSI(14) 34 — momentum weak.
Computed from daily closing prices (Yahoo Finance), June 19, 2026. Compare all markets →
What is Gold?
Gold is a dense, malleable yellow metal that has been mined and valued by civilizations for thousands of years. It is chemically inert, meaning it does not tarnish or corrode, which underpins its enduring role as a store of value.
Jewelry accounts for roughly half of annual gold demand, while investment products such as bars, coins, and exchange-traded funds make up much of the rest. Central banks, electronics manufacturers, and dentistry are also significant buyers.
What has moved Gold
The US dollar
Gold is priced in US dollars, so the two tend to move in opposite directions. When the dollar weakens, gold becomes cheaper for foreign buyers, lifting demand and price. A strong dollar has the reverse effect.
Real interest rates and Treasury yields
Gold pays no dividend or coupon, so its opportunity cost rises when real yields (nominal yields minus inflation) climb. Historically, falling real rates have been among the most reliable tailwinds for gold prices.
Central-bank purchases
Central banks hold gold as a reserve asset to diversify away from any single currency. Large, sustained buying programs by emerging-market central banks can meaningfully tighten the available supply of metal and support prices.
Safe-haven and inflation demand
During geopolitical crises, financial-market stress, or periods of elevated inflation, investors often rotate into gold as a perceived hedge. This safe-haven bid can be swift and significant, temporarily overriding other drivers.
Notable moments
1971: the end of Bretton Woods
From 1944, major currencies were pegged to the US dollar, which was itself convertible to gold at $35 per troy ounce under the Bretton Woods agreement. On August 15, 1971, President Nixon suspended that convertibility, effectively ending the gold standard and allowing gold to trade freely for the first time in decades.
1980: gold's inflation-era peak
Amid runaway inflation and the speculative mania that also gripped silver, gold touched a then-record of around $850 per troy ounce in January 1980. The subsequent Federal Reserve rate hikes under Paul Volcker cooled inflation expectations and sent gold substantially lower over the following years.
2008-2011: the financial-crisis surge
During the global financial crisis gold initially sold off as investors raised cash, then staged a multi-year rally to fresh records as central banks cut rates and launched unprecedented stimulus, showcasing the metal's dual role as both a risk-off asset and an inflation hedge.
Common questions
What is a troy ounce?
A troy ounce is the standard unit of weight for precious metals and equals about 31.1 grams, slightly heavier than a standard ounce of 28.35 grams. All COMEX gold futures are denominated in troy ounces.
How does a gold futures contract work?
A single COMEX gold future represents 100 troy ounces and commits buyer and seller to a price agreed today for delivery on a future date. Most participants close or roll their positions before delivery rather than taking physical metal.
Is trading gold futures the same as buying physical gold?
No. Futures involve leverage and margin, so a small deposit controls a large notional value of metal. Physical ownership means buying bars or coins outright, with no leverage, no expiry, and no exchange counterparty risk.
Why do gold and stocks sometimes move together?
In severe liquidity crunches, investors sell even gold to raise cash, briefly creating a positive correlation with equities. Over longer periods gold and broad equity indices show low or negative correlation, which is why it is often used as a diversifier.