Gold prices today, Monday, October 5, 2026: Gold prices climbing this morning as interest rate expectations shift

Gold (GC=F) December futures opened at $4,169.40 per troy ounce on Monday, October 5, 2026, up 0.2% from Friday’s closing price. Gold is moving higher this morning to $4,191.20 per troy ounce as of 7:07 a.m. ET.

Gold prices are regaining some ground this morning after last week’s softer-than-expected jobs report has helped to shift the market’s expectations for what the Fed will do with interest rates later this month.

This morning, the CME Group’s FedWatch tool shows an 80.6% chance the Fed will hold rates steady in a few weeks and only a 19.4% chance rates will rise by 25 basis points. Compare that to just one week ago, when there was a 29.1% expectation rates would stay the same and a 70.9% chance rates would move higher.

Current price of gold

Gold futures opened up 0.2% on Monday, October 5, 2026, from Friday’s close. Here’s a look at how the opening gold price has changed versus last week, month, and year:  

For context, 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. 

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 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:

1. Geopolitical events

2. Central bank buying trends

3. Inflation 

4. Interest rates

5. Mining production

Learn more: Who decides what gold is worth? How prices are determined.

Price of gold chart

Whether you’re tracking the price since last month or last year, the price of gold chart below shows the precious metal’s change in value.