Gold futures opened at $5,013.40 per troy ounce on Monday (January 26), opening above $5,000 in value for the first time ever after closing at $4,979.70 on Friday (January 23), Yahoo! Finance reports.
The opening price of gold increased by 0.7% from Friday’s close and is 8.8% higher than one week prior; 11.1% higher than one month prior; and 81.7% higher than one year prior, which is its greatest one-year gain during any span between 2025 and 2026. The price of gold can be quoted in various forms as its a precious metal traded in different ways, with the main two prices being the spot price of the “current market price per ounce for physical gold as a raw material” and gold futures, which “mandate a gold transaction at a specific prince on a future date,” according to Yahoo! Finance.
The price of gold can be affected by various factors including geopolitical events, central bank buying trends, inflation, interest rates and mining production. Monday’s price increase followed a weekend in which President Donald Trump threatened to levy a 100% tariff on Canadian imports if it made a deal with China, not specifying what deal he was referring to, though many speculate it relates to the recent partnership involving Chinese electric vehicles and Canadian agricultural products.
Trump also threatened European allies over Greenland, which led to gold rising above $4,900 per ounce last week.
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