Gold price today, Thursday, October 2: Gold opens near $3,900 after negative ADP jobs report

Group 1: Gold Market Overview - Gold futures opened at $3,892.70 per ounce, reflecting a 0.7% increase from the previous close of $3,867.50. The price of gold has surged nearly 48% in 2025 [1][4]. - The current price of gold has risen 4% from the opening price of $3,742.80 one week ago and increased 11.7% from the opening price of $3,485.70 on September 2. Over the past year, gold is up 46.9% from the opening price of $2,650.60 on October 2, 2024 [4]. Group 2: Economic Indicators and Market Response - The S&P 500 closed above $6,700 for the first time, and the Dow Jones Industrial Average approached an all-time high, influenced by the ADP employment report indicating a loss of 32,000 private jobs in September, suggesting a weakening labor market [2]. - Lower interest rates are anticipated, which typically enhance the attractiveness of gold compared to interest-bearing assets, as they reduce business borrowing costs [3]. Group 3: Investment Insights - Investing in gold involves a four-step process: setting goals, determining allocation, choosing a form, and considering the investment timeline [6][8]. - A small gold position can stabilize a stock portfolio and serve as a currency during economic crises, although gold has historically underperformed compared to stocks [7][11]. - Analysts are optimistic about gold, with Goldman Sachs predicting a price of $3,700 per troy ounce by year-end 2025, driven by rising demand from central banks and uncertainties in U.S. tariff policy [12].