The price of gold traded at $2,611.72 per troy ounce, as of 9 a.m. ET. That’s down 0.91% from yesterday’s gold price per ounce and up 26.39% since the beginning of the year.

That price marks a 26% jump from where the metal started the year — but a 5% drop from where it started in November, erasing a good portion of the increase seen throughout 2024. That said, economic factors are constantly evolving and Wednesday brought news that could affect the price of gold yet again.

Gold touches lowest price since Sept. 20 US dollar hits more than ... Spot gold was down 0.7% at $2,600.93 per ounce by 2:23 p.m. EST (1923 GMT), after dropping 1% to hit its lowest level since Sept. 20 at $2,589.59 earlier in the session.

The price of gold traded at $2,635.65 per troy ounce, as of 9 a.m. ET. That’s down 2.29% from yesterday’s gold price per ounce and up 27.55% since the beginning of the year. The lowest trading price within the last 24 hours: $2,617.82 per ounce. The highest gold spot price in the last 24 hours: $2,703.98 per ounce.

Gold held a four-day drop as a sharp rally in the dollar weighed on the metal, even as US inflation data supported the case for another Federal Reserve rate cut next month.

Gold prices dipped 1% to their lowest levels in nearly two months on Tuesday as the U.S. dollar soared ahead of economic data and comments from Federal Reserve officials that could shed light on the interest-rate path under the Trump administration.