Gold price today, Monday, March 2: Gold opens 2.8% higher, following U.S.-Israel conflict with Iran
Gold (GC=F) futures opened at $5,393 per ounce on Monday, up 2.8% from Friday's closing price of $5,247.90. This is gold’s largest close-to-open gain since Nov. 28, 2025. The price of the yellow metal also rose in early trading.
This latest rally follows the outbreak of violence in the Middle East. The U.S. and Israel launched airstrikes against Iran Saturday, reportedly killing Supreme Leader Ali Khamenei and other top officials. The attacks are still underway, and American casualties have been reported.
The war has affected stock futures, oil prices, and the price of gold. Futures for the major stock indexes are trending lower, and oil prices have increased. More expensive oil could impact inflation, which in turn influences Fed interest-rate actions. Gold stands to gain amid global conflict and inflationary pressures, both of which typically increase safe-haven demand.
Current price of gold
The opening price of gold futures on Monday rose 2.8% from Friday’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: +5.3%
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One month ago: +12.2%
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One year ago: +87.4%
The one-year gain for gold 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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Gold prices explained
The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices investors should know about are spot prices and gold futures prices.
Learn more: How to invest in gold in 4 steps
The spot price
The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price.
The spot price is lower than what you’d pay to buy gold coins, bullion, or jewelry, since your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, and profits. The spot price is more like a wholesale price, and the spot price plus the gold premium is the retail price.
Learn more: Thinking of buying gold? Here's what investors should watch for.
Gold futures
Gold futures are contracts that mandate a gold transaction at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They settle on the contract expiration date or earlier, either financially or via delivery. A financial cash settlement involves paying the contract’s profit or loss in cash. Delivery means the seller sends physical gold to the buyer for the contracted price.
Factors that affect gold prices
Supply and demand determine gold spot prices and gold futures prices. Factors that influence gold supply and demand include:
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Geopolitical events
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Central bank buying trends
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Inflation
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Interest rates
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Mining production
Learn more: Who decides what gold is worth? How prices are determined.
Up Next
Price-of-gold chart
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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