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Gold (GC=F) June futures opened at $4,557 per troy ounce on Thursday, down 1.18% from Wednesday’s opening price. The price of gold is moving higher this morning, trading at $4,649.90 as of 6:40 a.m. ET.

Silver (SI=F) May futures opened at $71.38 per ounce on Thursday, 2.19% lower than Wednesday’s opening price. The silver price also rose higher in early trading, moving up to $74.16 as of 6:40 a.m. ET.

Reports that the U.S. is considering renewed military action in the Middle East to speed up negotiations and reopen the Strait of Hormuz sent the global price of oil to over $120 a barrel overnight and prompted investors to consider precious metals as a safe-haven investment once more.

At the moment, the price of gold is stuck between two forces. There is downward pressure on metal prices driven by international inflation concerns and upward momentum as investors seek a safe-haven investment amid geopolitical unrest.

For the moment, the Fed has left interest rates unchanged, but comments by Fed Chair Powell following yesterday’s two-day meeting suggested that price pressures haven’t reached their peak, which could very likely prompt the Fed to raise interest rates later this year.

Rising interest rates put downward pressure on gold prices because the yellow metal is not a yield-bearing asset.

The opening price of gold futures on Thursday was nearly even with Wednesday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:

One week ago: -3.3%

One month ago: +1.7%

One year ago: +37.3%

Gold’s year-over-year growth 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.

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.

The opening price of silver futures on Thursday was down 0.03% from Wednesday’s close. Here’s how the opening silver price has changed versus last week, month, and year: 

One week ago: -6.5%

One month ago: +5.1%

One year ago: +117%

Learn more: How to invest in silver: A beginner’s guide

If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.

Learn more: How to invest in gold in 4 steps

A gold IRA is a specialty form of self-directed IRA that’s designed for gold and other precious metals.

The table below compares the main features of standard IRAs and gold IRAs.

You must work with a specialty provider that can ensure your account complies with these IRS restrictions:

Storage: Your gold must be held in an IRS-approved facility.

Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.

Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA

Whether you’re tracking the price of gold and silver since last month or last year, the price-of-gold and price-of-silver charts below show the precious metals’ value journey so far this year.

More silver coverage from the Yahoo Finance team: 

Silver price volatility: What to know and how to invest in 2026

Silver vs. gold: Which metal made investors more money in the last 50 years?

​​Gold alternatives? How to invest in silver, platinum, and palladium.

Why is silver outperforming gold? What to know before you invest.

3 predictions about silver prices in the next decade

How to invest in silver in 5 steps

Gold and silver prices have been on a tear, with silver prices increasing by more than 100% year to date. Experts weigh in on what could be causing these record highs.

Silver prices have more than tripled over the past year despite their recent sell-off. Here’s what you should know about the metal before you invest.

The two primary gold prices investors should know are spot prices and gold futures prices. Learn the difference, the historical price of gold, and the current dynamics.

Gold prices have skyrocketed in recent years, but how high can they go next? Here are the boldest predictions for how gold will perform.

Both gold and silver have surged over the past 50 years, but which precious metals delivered the higher returns? Here's how these investments compare.

How will silver's price change in 2026 and beyond? Learn what's driving silver's price increases and expert predictions.