Gold price today, Wednesday, June 4, 2025: Gold edges up ahead of May jobs report
Gold (GC=F) futures opened at $3,377.80 per ounce Wednesday, 0.8% above Tuesday's close of $3,350.20. The price of gold futures has been moving closer to $3,400 since Monday following reports of new trade tensions between the U.S. and China.
President Donald Trump's changing stance on tariffs has contributed to gold's gradual rise this year, as many investors favor safer assets amid an uncertain economic outlook. So far, U.S. inflation and jobs data have not changed meaningfully since the new tariffs were announced in early April. The Bureau of Labor Statistics will release the May jobs report on Friday, June 6. Lower-than-expected jobs performance could send the price of gold higher.
The opening price of gold futures on Wednesday is up 0.8% from Tuesday's close of $3,350.20. Wednesday's opening price marks a gain of 2.6% over the past week, compared to the opening price of $3,293.60 on May 28. In the past month, the gold futures price has risen 4.3% compared to the opening price of $3,239.90 on May 2. In the past year, gold is up 44% from the opening price of $2,347.50 on June 4, 2024.
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.
As we've been saying all week, investing in gold is a four-step process, and today, we'll explore step 3, choosing a form.
Once you define your target gold allocation, you must choose a form of gold to hold. Your three options are:
Physical gold
Gold mining stocks
Gold ETFs
Physical gold includes jewelry, gold bars, and gold coins. The advantages of physical gold include:
Readily accessible for use. If you keep your physical gold at home, it is easily available for you to use as a medium of exchange in an economic emergency.
No added volatility or ongoing fees. Gold mining stocks tend to rise and fall with gold prices, and business-related factors enhance their volatility. Gold ETFs charge administrative fees in the form of expense ratios.
Learn more: Take a deeper dive into the gold sector
The disadvantages of physical gold include:
Risk of theft or loss. Physical gold must be properly secured. Whether you store it in your home or with a depository, gold can be stolen.
Lower liquidity. Physical gold is less liquid than stocks or ETFs. If you are not using the gold as a medium of exchange, you may need to locate a dealer and pay a markup on the sale.
Owning shares in gold mining stocks provides indirect gold exposure. The advantages of mining stocks over physical gold include:
Greater liquidity. Large-cap gold mining stocks like Barrick Gold Corporation (GOLD) and Franco-Nevada Corporation (FNV) generally enjoy a narrow bid-ask spread, which is a sign of liquidity. The bid-ask spread is the difference between what buyers will pay and what sellers will accept.
Easy to store. Stocks live in your brokerage account and do not consume physical space. In normal times, this is an advantage. In an economic catastrophe, this could be a disadvantage if brokers or the stock market are temporarily shut down.
Learn more: The top performing companies in the gold industry
The disadvantages of owning gold mining stocks include:
Greater volatility. Since 2000, gold mining stocks have risen and fallen faster than gold spot prices. And in recent years, gold mining stocks have trended down even as gold has gained value.
No utility as a medium of exchange. Gold mining stocks can appreciate, but they have no direct utility as a medium of exchange.
Gold ETFs are funds that invest in gold mining stocks or physical gold. Their advantages include:
Easy to store. Like gold mining stocks, ETF shares are essentially digital assets with no storage requirements.
Greater liquidity. Shares of the most popular gold ETFs, like SPDR Gold Shares ($GLD), are heavily traded which implies good liquidity.
Tied directly to gold prices. ETFs backed by physical gold can be less volatile than gold mining stocks or gold mining ETFs.
The disadvantages of gold ETFs include:
Fund fees. Funds charge fees, which dilute returns over time. For context, the expense ratio of SPDR Gold Shares is 0.40%. This translates to $4 in fees annually for every $1,000 invested.
No utility as a medium of exchange. As with gold mining stocks, you probably cannot use ETF shares to trade for food in an economic emergency.
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 steady upward climb in value.
Historically, gold has shown extended up cycles and down cycles. The precious metal was in a growth phase from 2009 to 2011. It then trended down, failing to set a new high for nine years.
In those lackluster years for gold, your position will negatively impact your overall investment returns. If that feels problematic, a lower allocation percentage is more appropriate. On the other hand, you may be willing to accept gold's underperforming years so you can benefit more in the good years. In this case, you can target a higher percentage.
The precious metal has been in the news lately, and many analysts are bullish on gold. In May, Goldman Sachs Research predicted gold would reach $3,700 a troy ounce by year-end 2025. That would equate to a 40% increase for the year, based on gold's January 2 opening price of $2,633. Rising demand from central banks, along with uncertainty related to changing U.S. tariff policy, are the factors driving the increase.
If you are interested in learning more about gold's historical value, Yahoo Finance has been tracking the historical price of gold since 2000.
Tim Manni edited this article.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
11 minutes ago
- Yahoo
US Justice Department reportedly shrinks foreign bribery investigation team
-- The team at the U.S. Justice Department responsible for investigating allegations of foreign bribery has significantly shrunk, according to a Reuters report on Monday. This comes as President Donald Trump's administration reassesses its enforcement of an anti-corruption law that has been in place for decades. The Department of Justice's Fraud Section, which is in charge of enforcing the anti-bribery law, has been reduced to around 15 prosecutors. This is a substantial decrease from the 32 prosecutors reported in January, as stated on the department's website, the report said. This reduction follows an executive order issued by President Trump in February. The order called for a temporary halt in the enforcement of the Foreign Corrupt Practices Act (FCPA), a law enacted in 1977. The FCPA prohibits companies operating in the U.S. from bribing foreign officials and is considered a fundamental part of federal efforts to fight corruption. Related articles US Justice Department reportedly shrinks foreign bribery investigation team SEC progresses toward DOGE goals, eyes voluntary workforce reductions Trump signs orders to enhance drone defenses, support supersonic travel
Business Insider
12 minutes ago
- Business Insider
Waymo suspends robotaxi rides near LA protests after 5 cars are set ablaze
Waymo suspended robotaxi service in downtown Los Angeles on Sunday after five vehicles were set on fire during protests against President Donald Trump 's immigration raids in the city. Photos show Waymo cars covered in anti-ICE graffiti burning in the street, engulfed in smoke. A spokesperson for Waymo confirmed to Business Insider that five vehicles had been vandalized during the protests. The company temporarily suspended service in downtown LA and doesn't think its vehicles were intentionally targeted, the spokesperson said. Waymo is working with the Los Angeles Police Department, they added. On Sunday night, the LAPD said on X that "burning lithium-ion batteries release toxic gases." Electric vehicles often use lithium-ion batteries. The spokesperson told BI that Waymo, which Alphabet owns, operates more than 300 vehicles in LA and is continuing operations in other parts of the city. It's not the first time that Waymo vehicles have been targeted in California. Last year, a crowd in San Francisco set one of the robotaxis on fire during Lunar New Year celebrations amid a wave of distrust about driverless vehicles. The protests broke out on Friday after an immigration raid in the city. Over the weekend, Trump bypassed California Gov. Gavin Newsom 's authority and ordered 2,000 National Guard members to the LA area. Despite the dramatic images, the protests have largely been peaceful, according to multiple reports. The demonstrations have become a political lightning rod between Newsom and Trump, and the governor has announced that he's suing the administration. They may, however, serve as an olive branch between the president and Elon Musk, who had an ugly falling out last week.
CNN
22 minutes ago
- CNN
China has a valuable card to play as it holds trade talks with the US today
Source: CNN A new round of trade negotiations between the United States and China has started in London, with both sides trying to preserve a fragile truce brokered last month. The fresh talks were announced last week after a long-anticipated phone call between US President Donald Trump and Chinese leader Xi Jinping, which appeared to ease tensions that erupted over the past month following a surprise agreement in Geneva. In May, the two sides agreed to drastically roll back tariffs on each other's goods for an initial 90-day period. The mood was upbeat. However, sentiment soured quickly over two major sticking points: China's control over so-called rare earths minerals and its access to semiconductor technology originating from the US. Beijing's exports of rare earths and their related magnets are expected to take center stage Monday at the London meeting. A person familiar with the matter told CNN the US-China talks were underway. China's official news agency Xinhua also reported the start of the discussions. Experts say Beijing is unlikely to give up its strategic grip over the essential minerals, which are needed in a wide range of electronics, vehicles and defense systems. 'China's control over rare earth supply has become a calibrated yet assertive tool for strategic influence,' Robin Xing, Morgan Stanley's chief China economist, wrote in a Monday research note. 'Its near-monopoly of the supply chain means rare earths will remain a significant bargaining chip in trade negotiations.' Since the talks in Geneva, Trump has accused Beijing of effectively blocking the export of rare earths, announcing additional chip curbs and threatening to revoke the US visas of Chinese students. The moves have provoked backlash from China, which views Washington's decisions as reneging on its trade promises. All eyes will be on whether both sides can come to a consensus in London on issues of fundamental importance. US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer will meet a Chinese delegation led by Vice Premier He Lifeng. On Saturday, Beijing appeared to send conciliatory signals. A spokesperson for China's Commerce Ministry, which oversees the export controls, said it had 'approved a certain number of compliant applications.' 'China is willing to further enhance communication and dialogue with relevant countries regarding export controls to facilitate compliant trade,' the spokesperson said. Kevin Hassett, head of the National Economic Council at the White House, told CBS's Face the Nation on Sunday that the US side would be looking to restore the flow of rare earth minerals. 'Those exports of critical minerals have been getting released at a rate that is higher than it was, but not as high as we believe we agreed to in Geneva,' he said, adding that he is 'very comfortable' with a trade deal being made after the talks. On Monday morning in an interview with CNBC, Hassett said: 'This was a very significant sticking point, because China controls… something like 90% of the rare earths and the magnets. And if they're slow rolling, sending those to us because of some licensing deal that they set up, then it could potentially disrupt production for some US companies that rely on those things.' 'And there are enough of those, like, for example, auto companies, that President Trump took it very seriously, called President Xi and said, we got to we got to get this stuff coming out faster. And President Xi agreed,' he added. In April, as tit-for-tat trade tension between the two countries escalated, China imposed a new licensing regime on seven rare earth minerals and several magnets, requiring exporters to seek approvals for each shipment and submit documentation to verify the intended end use of these materials. Following the trade truce negotiated in Geneva, the Trump administration expected China to lift restrictions on those minerals. But Beijing's apparent slow-walking of approvals triggered deep frustration within the White House, CNN reported last month. Rare earths are a group of 17 elements that are more abundant than gold and can be found in many countries, including the US. But they're difficult, costly and environmentally polluting to extract and process. China controls 90% of global rare earth processing. Experts say it's possible that Beijing may seek to use its leverage over rare earths to get Washington to ease its own export controls aimed at blocking China's access to advanced US semiconductors and related technologies. The American Chamber of Commerce in China said on Friday that some Chinese suppliers of American companies have received six-month export licenses. Reuters, citing two sources, also reported that suppliers of major American carmakers – including General Motors, Ford and Jeep-maker Stellantis – were granted temporary export licenses for a period of up to six months. While China may step up the pace of license approvals to cool the diplomatic temperature, global access to Chinese rare earth minerals will likely remain more restricted than it was before April, according to a Friday research note by Leah Fahy, a China economist and other experts at Capital Economics, a London-based consultancy. 'Beijing had become more assertive in its use of export controls as tools to protect and cement its global position in strategic sectors, even before Trump hiked China tariffs this year,' the note said. As China tackles a tariff war with the US head on, it's clear that the disruptions are continuing to cause economic pain at home. Trade and price data released Monday painted a gloomy picture for the country's export-reliant economy. Its overall overseas shipments rose by just 4.8% in May, compared to the same month a year earlier, according to data released by China's General Administration of Customs. It was a sharp slowdown from the 8.1% recorded in April, and lower than the estimate of 5.0% export growth from a Reuters poll of economists. Its exports to the US suffered a steep decline of 34.5%. The sharp monthly fall widened from a 21% drop in April and came despite the trade truce announced on May 12 that brought American tariffs on Chinese goods down from 145% to 30%. Still, Lü Daliang, a spokesperson for the customs department, talked up China's economic strength, telling the state-run media Xinhua that China's goods trade has demonstrated 'resilience in the face of external challenges.' Meanwhile, deflationary pressures continue to stalk the world's second-largest economy, according to data released separately on Monday by the National Bureau of Statistics (NBS). In May, China's Consumer Price Index (CPI), a benchmark for measuring inflation, dropped 0.1% compared to the same month last year. Factory-gate deflation, measured by the Producer Price Index (PPI), worsened with a 3.3% decrease in May from a year earlier. Last month's drop marks the sharpest year-on-year contraction in 22 months, according to NBS data. Dong Lijuan, chief statistician at the NBS, attributed the decline in producer prices, which measures the average change in prices received by producers of goods and services, to a drop in global oil and gas prices, as well as the decrease in prices for coal and other raw materials due to low cyclical demand. The high base of last year was cited as another reason for the decline, Dong said in a statement. See Full Web Article
