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Here’s how much the price of gold has risen since March 1
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Gold’s price has been heading up as of late as inflationary economic conditions continue to drive demand for the precious metal. That’s great news if you own gold. After all, growing prices mean there’s a high probability that your holdings are worth more now than you paid for them. And the difference in what you paid for your gold and what it’s worth today could be significant depending on when you purchased it.
But, exactly how much has the price of gold climbed over the past month and a half (since March 1, 2024)? That’s what we will calculate below, underlining the benefit of investing in the precious metal now.
Find out how the rising price of gold can benefit you now.
Here’s how much the price of gold has risen since March 1
According to American Hartford Gold, gold traded for $2,082.55 per ounce on March 1. That’s in stark contrast to today’s gold price, $2,371.11 per ounce.
To put that into perspective, gold’s price climbed by $288.56 per ounce from March 1 through April 16, representing a gain of approximately 14% in about a month and a half. So, if you purchased $10,000 worth of gold on March 1, 2024, your gold would be worth about $1,400 more today than it was when you purchased it – bringing the total value of your investment to $11,400.
But with such significant recent growth, is gold’s price destined to fall ahead? Not exactly. At least that’s the opinion of Aakash Doshi, North American head of commodities research at Citigroup, who recently said that gold could climb to $3,000 per ounce within the next few months.
Other experts agree that gold’s price is likely headed up. “The price of any asset, including gold, can be very difficult to predict,” says Steve Azoury, ChFC and owner of the financial planning firm, Azoury Financial. “The important factors to consider include inflation, supply and demand and interest rates.” Though Azoury wasn’t comfortable making a dollar-amount prediction for the price of gold, he did say that “with all the crazy things going on (interest rates, Federal Reserve, inflation, supply and demand)” he believes the price of gold will likely rise ahead.
Compare your gold investment options among leading dealers today.
Other benefits of gold
Though gold isn’t typically used as an income-producing asset, the recent gains in the price of the precious metal show how you could generate a profit by investing in the commodity. Nonetheless, income shouldn’t be the only reason you add assets to your portfolio. Some assets, like gold, come with a wide range of other benefits.
For example, gold makes a strong inflation hedge. That fact is easy to see when you look at the recent movement in the price of the precious metal – movement that can, at least in part, be attributed to today’s inflationary economic environment. Ultimately, when inflation is high, consumers, investors and even corporations and central banks, tend to look to gold as a way to maintain the value of their holdings. This drives the demand for gold up, pushing the price of the commodity up as well and potentially offsetting any inflation-related value loss in a well-balanced investment portfolio.
Gold is also thought to be a safe haven investment asset. Though its inflation-hedging capabilities are one reason gold is considered a safe haven, they aren’t the only reason. Gold comes with high diversification value in investment portfolios because the price of the commodity doesn’t typically move in tandem with other, more traditional, portfolio assets like stocks and bonds.
It’s also worth noting that, unlike most traditional portfolio assets, gold is a tangible asset. And, it’s one that’s in high demand. That can be a compelling reason to invest in the precious metal, too. After all, gold is relatively easy to buy and sell, even in today’s inflationary economic environment.
The bottom line
If you purchased gold on March 1, 2024, your gold is likely worth around 14% more today than it was when you bought it. And, the price of the precious metal shows no signs of falling anytime soon. In fact, with experts suggesting that more upward movement could be ahead, buying gold now may give you the opportunity to tap into growth.
But the current price growth shouldn’t be the only factor that drives you to invest in gold. The precious metal is a tangible asset that’s easy to buy and sell and comes with significant value as an inflation hedge and portfolio diversifier. That’s likely why experts often advise investors to maintain a safe allocation to gold (10% of your portfolio value or less).
Frito-Lay is recalling a limited number of 13 oz. bags of Lay’s Classic Potato Chips after being alerted by a consumer contact that the product may contain undeclared milk.
The bags of chips affected by recall were distributed to certain retail stores and e-commerce distributors in Oregon and Washington and were available for sale beginning Nov. 3, 2024.
“Those with an allergy or severe sensitivity to milk run the risk of a serious or life-threatening allergic reaction if they consume the recalled product,” the Food and Drug Administration said in the recall notice posted Thursday.
No allergic reactions related to the recall have been reported, according to the recall. Additionally, no other Lay’s products, flavors, sizes or variety packs are affected.
FDA
The recalled chips include Lay’s Classic Potato Chips, in flexible 13 oz. (368.5 grams) bags with UPC code 28400 31041, a “Guaranteed Fresh” date of 11 Feb 2025, and one of either two manufacturing codes: 6462307xx or 6463307xx.
General guidelines from the FDA advise consumers who have purchased any recalled food to dispose of the product or return it to the retailer for a full refund.
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What is the debt ceiling? Here’s why Trump wants Congress to abolish it before he takes office
Washington — President-elect Donald Trump, Vice President-elect JD Vance and billionaire Elon Musk blew up a GOP-backed deal to fund federal agencies into March, raising the pressure on Republican congressional leaders to craft a plan to avert a government shutdown just before the holidays.
In a statement Wednesday, Trump and Vance lambasted the agreement for including provisions favored by Democrats. But the incoming president and vice president also added a new, significant wrinkle to negotiations when they urged Congress to raise or abolish the debt ceiling now, instead of next year.
“Increasing the debt ceiling is not great but we’d rather do it on Biden’s watch,” Trump and Vance said in their statement. “If Democrats won’t cooperate on the debt ceiling now, what makes anyone think they would do it in June during our administration? Let’s have this debate now.”
What is the debt ceiling?
Set by Congress, the debt ceiling, or limit, is the maximum amount of money the U.S. Treasury is authorized to borrow to pay debts incurred by the federal government. Lifting the debt ceiling does not authorize new spending, but instead lets the government spend money on obligations that Congress has already been approved.
Failing to address the debt ceiling could lead the U.S. to default on its debt, which would have devastating effects on the economy. The government has never defaulted, and the Treasury typically uses accounting moves, known as “extraordinary measures,” to delay breaching the debt ceiling.
While raising the debt ceiling used to be routine, legislation addressing it has in recent years been used as leverage to force policy concessions and fuel debates over government spending.
Congress last addressed the debt ceiling in June 2023 as part of a legislative package negotiated by President Biden and then-House Speaker Kevin McCarthy. That deal suspended the debt ceiling through Jan., 1, 2025, ensuring any fight over it would take place after the 2024 elections.
The Treasury Department will likely implement extraordinary measures to stave off a default in the new year. It will also announce an “X date,” the estimated point at which the government will no longer be able to pay its obligations. The Economic Policy Innovation Center, a conservative think tank, projected in an analysis released Monday that it’s possible the debt limit will be reached by June 16.
While the Treasury Department’s use of extraordinary measures would give Congress more time to address the debt ceiling, Trump is now urging lawmakers to take action now, before he takes office.
Why does Trump want to raise the debt ceiling?
The president-elect will come into office with a legislative to-do list that includes securing the border and extending provisions of his signature Tax Cuts and Jobs Act, which was enacted in 2017 and overhauled the tax code. But a fight over the debt ceiling could complicate efforts by the Republican-led House and Senate to focus on those legislative initiatives and pass them quickly.
Trump is urging lawmakers to eliminate the debt ceiling altogether, a position that some prominent Democrats have endorsed in the past.
“Number one, the debt ceiling should be thrown out entirely,” Trump said in a phone interview Thursday with CBS News’ Robert Costa. “Number two, a lot of the different things they thought they’d receive [in a recently proposed spending deal] are now going to be thrown out, 100 percent. And we’ll see what happens. We’ll see whether or not we have a closure during the Biden administration. But if it’s going to take place, it’s going to take place during Biden, not during Trump.”
Trump separately told ABC News that “there won’t be anything approved unless the debt ceiling is done with,” indicating any spending deal to prevent a shutdown must address the debt limit.
“If we don’t get it, then we’re going to have a shutdown, but it’ll be a Biden shutdown, because shutdowns only [injure] the person who’s president,” he told ABC News.
Whether Republicans and Democrats would go along with such a plan, though, is far from clear. GOP lawmakers in both chambers have opposed raising the debt ceiling without spending reforms, and debates over the debt limit often give way to broader fights over the federal budget, which conservatives in Congress have said is bloated and should be reduced. Plus, Democrats still control the Senate and the White House.
White House press secretary Karine Jean-Pierre said in a statement Wednesday that shutting down the government would harm families and endanger services Americans rely on.
“Republicans need to stop playing politics with this bipartisan agreement or they will hurt hardworking Americans and create instability across the country,” she said. “President-elect Trump and Vice President-elect Vance ordered Republicans to shut down the government and they are threatening to do just that — while undermining communities recovering from disasters, farmers and ranchers, and community health centers.”
House Democratic Leader Hakeem Jeffries suggested Democrats would not go along with a plan pushed by Republicans to raise the debt limit.
“GOP extremists want House Democrats to raise the debt ceiling so that House Republicans can lower the amount of your Social Security check. Hard pass,” the New York Democrat wrote on the social media platform Bluesky.
Jeffries also told reporters “the debt limit issue and discussion is premature at best.”
