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Gold (GC=F) December futures opened at $4,577 per troy ounce on Friday, August 21, 2026, up 0.1% from Thursday's closing price. The price of gold is up this morning at $4,633.90 per troy ounce as of 9 a.m. ET.
Gold continued to rise Friday morning amid concerns about U.S. debt. Earlier in the week, the national debt hit a record high of $40 trillion, five months after eclipsing $39 trillion.
For context, the U.S. debt balance was $28.4 trillion in late 2021. Fast-rising national debt erodes trust in the U.S. dollar and raises borrowing costs. As the debt balance grows, higher yields are required to compensate investors for the risk the government will take inflationary measures, like printing money, to service the debt. At the current debt level, interest costs exceed defense spending.
These dynamics can prompt higher demand for gold as a safe haven from the dollar, both for investors and central banks around the world.
The opening price of gold futures on Friday, August 21, 2026, was up 0.1% from Thursday's closing price. Here's a look at how the opening gold price has changed versus last week, month, and year:
For context, the one-year gain for gold 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.
A gold investment can add stability and inflation protection to your portfolio. But it can also dilute your gains when stock prices are rising quickly. Finding the right balance between gold's diversification benefits and profiting from growth potential in other assets can be challenging.
Even the experts are divided on how to achieve the correct balance. Below, five experts explain their recommended gold allocations, which range from 0% to 20%.
Learn more: How to invest in gold in 4 steps
Robert R. Johnson, professor at Creighton University's Heider College of Business, does not advocate gold investing. In his words, "while having a small position in precious metals may dampen portfolio volatility in the short-run, the tradeoff between slightly dampened volatility and the lost long-term return is certainly not a prudent one, particularly for Gen Z/millennials with long investing time horizons."
2% to 5% allocation, depending on the situation
Brett Elliott, director of content and SEO at American Precious Metals Exchange (APMEX), recommends setting an allocation that aligns with your investing goals.
Growth-oriented investors may be comfortable with an allocation of 10% or 15%, according to Elliott. But income investors will prefer a smaller position, because gold provides no yield. A 2% to 5% gold allocation can provide some resiliency without an excessive drag on income potential.
Learn more: Who decides what gold is worth? How gold prices are determined.
Blake McLaughlin, executive vice president at Axcap Ventures, said historical data support a gold allocation of 5% to 8%. "Gold may not offer the outsized return potential of private investments, but the metal holds a set of attributes that are increasingly hard to ignore," according to McLaughlin. Those attributes include the metal's resilience amid economic uncertainty and geopolitical unrest.
Thomas Winmill, portfolio manager at Midas Funds, believes most investors will benefit from a long-term gold allocation of 5% to 15%. Winmill specifically advocates investing in gold mining companies through a mutual fund.
Your risk tolerance and current mix of financial versus hard assets can guide you to an appropriate allocation, according to Winmill.
Risk tolerance: Keep your allocation percentage low if you tend to panic in volatile cycles.
Risk tolerance: Keep your allocation percentage low if you tend to panic in volatile cycles.
Financial vs. hard assets: Financial assets are stocks and bonds. Hard assets include tangible items like real estate, gold, collectibles, classic cars, and equipment. If you have no home equity and your wealth is primarily in financial assets, you can set your gold allocation higher. Or, if your home is paid for and more valuable than your stock portfolio, gold investing may not be necessary.
Financial vs. hard assets: Financial assets are stocks and bonds. Hard assets include tangible items like real estate, gold, collectibles, classic cars, and equipment. If you have no home equity and your wealth is primarily in financial assets, you can set your gold allocation higher. Or, if your home is paid for and more valuable than your stock portfolio, gold investing may not be necessary.
Learn more: Thinking of buying gold? Here's what investors should watch for.
Vince Stanzione, CEO and founder at First Information, recommends a 20% gold allocation, specifically in physical gold or a gold ETF. Stanzione argues for a higher exposure to gold as a wealth protection strategy. As he says, "gold keeps with inflation and gold retains its purchasing power," while paper currencies are devaluing around the world.
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 change in value so far this year.
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 price outlook: Could prices hit $6,000 in 2026?
Gold prices have skyrocketed in recent years, but how high can they go next? Here are the boldest predictions for how gold will perform.
Who decides what gold is worth? How gold prices are determined.
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.
6 ways to invest in gold from simple buys to more complex bets
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.
How much gold would $1 million buy at different points in history?
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.
Is investing in gold a good idea? It can be a hedge against inflation and a store of value, but there are some risks to consider before investing.
