Gold futures opened at $4,529.10 per troy ounce, up 0.6% from Friday’s close. The price of gold surged above $4,600, hitting a record high after Fed Chair Jerome Powell announced a Justice Department subpoena related to renovations at the Fed’s office. Trump denied involvement in the investigation, sparking tensions. Last year, public disputes between Trump and Powell led to concerns about political interference in interest rate decisions, boosting gold prices and devaluing the dollar. Gold futures rose 0.6% from Friday’s close, with one-week, one-month, and one-year gains of +3.2%, +5.9%, and +68.6%, respectively. Gold’s one-year gain on Dec. 29 was 74.5%. You can track the current gold price 24/7 on Yahoo Finance. The spot price of gold is the current market price per ounce for physical gold, while gold futures are contracts for future gold transactions at specific prices. Factors influencing gold prices include geopolitical events, central bank trends, inflation, interest rates, and mining production. The price-of-gold chart illustrates the precious metal’s consistent climb in value.

Read more at Yahoo Finance: Gold price rises above $4,600 after Powell subpoenas