Gold price today, Monday, October 20: Gold opens at $4,269 after Friday’s all-time high

Core Insights - Gold futures opened at $4,269 per ounce, reflecting a 1.9% increase from the previous close of $4,189.90, with an all-time high of $4,358 reached recently [1][4]. Economic Context - The ongoing government shutdown, unresolved trade tensions with China, and new tariffs are contributing factors that may prolong the rise in gold prices [2]. - The Economic Policy Uncertainty Index for the U.S. remains high, which typically boosts demand for gold as a safe-haven asset [3]. Price Trends - The current opening price of gold futures is up 6.3% from the opening price of $4,016 one week ago and has increased 16.7% from the opening price of $3,659 a month ago [4]. - Over the past year, gold prices have surged by 57.3% from the opening price of $2,713.70 on October 18, 2024 [4]. Gold Pricing Mechanisms - Gold prices can be quoted in various forms, primarily as spot prices and gold futures prices, with spot prices reflecting the current market price for physical gold [6]. - The spot price is generally lower than the retail price due to additional costs such as refining and dealer overhead [7]. - Gold futures are contracts that require a gold transaction at a predetermined price on a future date, providing liquidity compared to physical gold [8]. Influencing Factors - Key factors affecting gold prices include geopolitical events, central bank buying trends, inflation, interest rates, and mining production [9][12].