Gold (GC=F) opened trading Thursday at $3,099.10, above Wednesday’s closing price of $3,056.50. The rise follows President Trump’s 90-day pause on tariffs for many countries except China.

Investors drove stocks sharply higher after President Trump announced the tariff pause Wednesday, ending a string of daily losses in the S&P 500. The large-cap index finished Wednesday up nearly 10%. Before the tariff pause, European Union leaders had approved retaliatory tariffs on U.S. imported goods, but later paused them for 90 days to match Trump’s move. Gold investors also welcomed the temporary standoff, pushing the metal’s closing price above $3,000 for the first time since Friday, April 4. Current price of gold
Gold’s opening price on Thursday of $3,099.10 is up 1.4% from Wednesday’s closing price of $3,056.50. Since the opening price on March 10 of $2,910.10, gold has increased 6.5%. The current price of gold is also up 42.9% over the past year, relative to the opening price of $2,167.30 on March 8, 2024. Want to learn more about the current top-performing companies in the gold industry? Explore a list of the top-performing companies in the gold industry using the Yahoo Finance Screener. You can create your own screeners with over 150 different screening criteria.

Gold can be volatile and has demonstrated extended periods of decline in the past. These extended periods of decline aren’t acceptable if your timeline is short. The risk that gold’s price will be down when you need to liquidate is too great.

An extended holding period provides greater potential for reaching your investment goals. As an example, hedging against stock market declines or inflation is a long-term effort. These outcomes will continue to be risks as long as you own stocks or cash deposits. Holding gold as insurance against an economic calamity requires you to keep the asset until you need it.