Gold

Gold futures prices have declined for the last three consecutive days. This price decline occurred after gold futures hit a record high of $2,413.80 per troy ounce on Friday, April 19th, propelled by rising geopolitical tensions in the Middle East. That being said, gold is still showing a respectable 17.06% gain from one year ago.

Gold futures regained some stability on Tuesday, trading down just 0.23% after a sharp $60 decline in the previous session. The April 2024 contract touched an intraday low of $2,304.60 before recovering to $2,335.57 as of 5 PM EDT.

Gold investors and traders witnessed the largest single-day drop in gold futures in over three years on Monday. Gold futures plummeted by $65.60, or 2.73%, marking the steepest decline since February 2021.

Gold experienced a respectable price increase on Friday, fueled by a confluence of geopolitical tensions and economic uncertainties. As of 5:25 PM EDT, gold futures based on the most active June 2024 contract settled at $2,413.80, after factoring gains of $15.80, or 0.66%. Similarly, spot gold rose to $2,391.77, up $13.01, or 0.55%, reflecting the metal's allure in times of turmoil.

As of 5:30 PM EDT, gold futures for the most active April 2024 contract were fixed at $2,394.40, up $17.80 or 0.75%. Spot gold also rallied, currently trading at $2,378.76 after gaining $17.69 or 0.75% on the day. The precious metal managed to overcome headwinds from a stronger U.S. dollar, which gained 0.21% to push the dollar index to 105.99.