The price of gold is quoted in spot prices and gold futures prices. Spot prices are lower than retail prices due to the gold premium. Gold futures are contracts for future gold transactions, settled financially or via delivery. Factors like geopolitical events, central bank buying trends, inflation, interest rates, and mining production influence gold prices.

Historically, gold futures have been volatile, with significant trends from 1934 to 2025. Owning gold exposes you to these trends, so setting your allocation carefully is crucial. In the lackluster years, a lower allocation percentage may be more appropriate, while in good years, a higher percentage is preferable.

In September 2025, the gold futures price rose 46%, driven by factors like new U.S. tariff structures, geopolitical risks, and a declining U.S. dollar. J.P. Morgan predicted gold hitting $3,675 per ounce in 2025, surpassing the benchmark, with a projected price of $4,250 per ounce in 2026. Experts have varying forecasts for gold prices in 2026, ranging from $2,850 to $4,025 per ounce.

Read more at Yahoo Finance: Who decides what gold is worth? How prices are determined.