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Gold prices today, Monday, November 2, 2026: Gold opens at its lowest point in over a year ahead of midterms Tim Manni · Mon, November 2, 2026 at 7:17 AM EST 3 min read Gold (GC=F) December futures opened at $3,890 per troy ounce on Monday, November 2, 2026, down 0.2% from Friday's closing price. Gold is moving slightly higher this morning to $3,913.70 per troy ounce as of 7:02 a.m. ET.
Gold prices opened this morning at their lowest levels since October 3, 2025, ahead of the midterm elections on Tuesday as an equities selloff dragged gold down with it:
A sharp selloff in equities through Friday has "created collateral damage in the precious-metals markets due to a liquidity-driven flight to safety," said Dana Samuelson, president of American Gold Exchange. In other words, investors hit by losses in the stock market were scrambling for cash, and found some by selling gold.
An equity selloff coincided with an already "weak and vulnerable" gold market that was hovering just above its major July support level of $3,975, said Samuelson. Once gold broke that support technical, that exacerbated its decline, he said.
Keep reading: Why gold plunged to its lowest price in a year despite renewed Iran jitters
Gold futures opened down 0.2% on Monday, November 2, 2026, from Friday's close. Here's a look at how the opening gold price has changed versus last week, month, and year:
For context, gold's one-year gain 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.
Whether you're tracking the price since last month or last year, the price of gold chart below shows the precious metal's change in value.
Go deeper with AlphaSpace 3,910.20 +11.30 (+0.29%) As of 7:40:13 AM EST. Market Open. Gold prices explained The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices investors should know about are spot prices and gold futures prices.
Learn more: How to invest in gold in 4 steps
The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price.
The spot price is lower than what you'd pay to buy gold coins, bullion, or jewelry, since your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, and profits. The spot price is more like a wholesale price, and the spot price plus the gold premium is the retail price.
Learn more: Thinking of buying gold? Here's what investors should watch for.
Gold futures are contracts that mandate a gold transaction at a specific price on a future date. These contracts are exchange-traded and more liquid than physical gold. They settle on the contract expiration date or earlier, either financially or via delivery. A financial cash settlement involves paying the contract's profit or loss in cash. Delivery means the seller sends physical gold to the buyer for the contracted price.
Supply and demand determine gold spot prices and gold futures prices. Factors that influence gold supply and demand include:
Learn more: Who decides what gold is worth? How prices are determined.
