Gold price today, Thursday, October 1, 2026: Gold prices rather muted after softer-than-expected inflation data

Gold (GC=F) December futures opened at $4,190.10 per troy ounce on Thursday, October 1, 2026, up just 0.1% compared to Wednesday’s closing price. The price of gold rose this morning, trading at $4,204.70 as of 7:00 a.m. ET.

Gold prices opened this morning within the range they’ve opened in all week. So far this week, gold prices have opened in either the $4,100 or $4,200 range as investors weigh multiple factors that are pushing and pulling precious metal prices.

Yields on the 10-year Treasury are now at levels last seen in 2002, and the firming dollar has been increasing the carry cost of gold for global investors, yet a softer-than-expected inflation report yesterday and some positive news on oil prices has ratcheted back the expectation that the Fed will raise interest rates next month:

The Personal Consumption Expenditures (PCE) index rose 3.4% in August, less than expectations for 3.7% — a level held for much of the summer. Excluding volatile energy and food prices, core PCE rose 3%, beating expectations for a rise of 3.3% and marking a drop from 3.3% in July. Month over month, core PCE inched down a tenth of a percentage point to 0.2% from July and beat expectations of a 0.3% rise.

With so many back-and-forth signals, gold investors appear to be waiting for clearer, more consistent signs on how to proceed. Don’t be surprised if gold settles back into the $4,200 range today with this more positive inflation outlook.

Learn more: PCE inflation eases to 3.4% — cooling the case for another Fed rate hike

Current price of gold

The opening price of gold futures on Thursday, October 1, 2026, was up 0.1% compared to Wednesday’s opening price. Here’s a look at how the opening gold price has changed versus last week, month, and year:  

For context, 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.

Gold IRA: What it is, how it works

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. 

Gold IRA vs. traditional IRA

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

IRS restrictions

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

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

2. 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

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 value journey so far this year.