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Gold price today, Thursday, October 8, 2026: Yearly gold gains evaporate after Fed says higher rates are expected Tim Manni · Thu, October 8, 2026 at 6:53 AM EDT 3 min read Gold (GC=F) December futures opened at $4,139.90 per troy ounce on Thursday, October 8, 2026, flat compared to Wednesday's closing price. The price of gold rose slightly this morning, trading at $4,143.30 as of 6:41 a.m. ET.
Gold prices opened this morning at their lowest level since early August after Federal Reserve Governor Chris Waller said more Fed rate increases are coming.
Persistent inflation concerns, driven by unrelenting unrest in the Middle East and the ever-growing AI boom, have much of the market following closely along with what Waller expects: higher rates are coming, maybe just not in October.
According to the CME Group's FedWatch tool, expectations for steady rates in October are growing, with many now pricing in December's meeting as the next time the Fed will raise rates.
As a result, year-over-year gold price gains have steadily evaporated this week:
Gold futures opened flat on Thursday, October 8, 2026, compared with Wednesday's open. Here's a look at how the opening gold price has changed versus last week, month, and year:
One year ago: +3.3% (the lowest YOY gain since we started this daily price series)
For context, gold's year-over-year growth 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.
If you are socking gold bars away for a rainy day, there may be an opportunity to earn some tax perks in the process. You could establish a gold IRA to hold those assets and diversify your retirement wealth.
Learn more: How to invest in gold in 4 steps
A gold IRA is a specialty form of self-directed IRA that's designed for gold and other precious metals.
The table below compares the main features of standard IRAs and gold IRAs.
You must work with a specialty provider that can ensure your account complies with these IRS restrictions:
Storage: Your gold must be held in an IRS-approved facility.
Asset types: A gold IRA can hold physical gold, silver, platinum, or palladium — but not all forms of these metals are eligible. For example, gold bullion, silver coins, and bars must meet purity requirements. Additionally, gold bars must come from approved refiners.
Learn more: Gold IRA: Benefits, risks, and how it differs from a traditional IRA
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 value journey so far this year.
Go deeper with AlphaSpace 4,140.10 -0.60 (-0.01%) As of 7:11:36 AM EDT. Market Open. Read More Gold forecast and tracker: Where will prices land in 2026? How high will gold go in 2026? See live gold prices, expert predictions about gold performance, and learn whether gold will reach $6,000.
Gold prices have skyrocketed in recent years, but how high can they go next? Here are the boldest predictions for how gold will perform.
The two primary gold prices investors should know are spot prices and gold futures prices. Learn the difference, the historical price of gold, and the current dynamics.
Learn how to invest in gold by considering gold's strengths, historical behavior, and the pros and cons of physical gold versus gold mining stocks and ETFs.
There are several ways to invest in gold. Which is best for you depends on your up-front investment and financial goals. Here are the top six ways to invest in gold.
If you had $1 million in 1900, you could buy 53,000 ounces of gold. Today, that amount would be worth $278 million. See how gold prices have changed over time.
