From its role as a safe haven in turbulent times to its reputation as a hedge against inflation, gold has consistently proven its worth as an investment asset. By adding gold to your investment portfolio, the precious metal can provide a buffer against market volatility and offer protection against potential losses in other asset classes — which is part of why so many investors are drawn to it.

But gold’s unique portfolio-boosting benefits aren’t the only draw, especially right now. Since the start of the year, the price of gold has been on an upward trajectory, growing in value by hundreds of dollars and breaking numerous price records on its uphill climb. That has prompted even more investors — both beginners and seasoned veterans alike — to turn their attention toward the yellow metal. 

How much has the price of gold increased so far this year, though — and is it likely to keep climbing over the last few months of 2024? Below, we’ll detail what you should know.

Don’t miss out on what gold can offer. Compare your top gold investing options now.

How much the price of gold has increased so far in 2024

The story of gold so far in 2024 has been one of impressive and consistent growth. On January 1, gold was trading at $2,063.73 per ounce. Fast forward to August 28, and the price has soared to $2,502.53 per ounce. This represents a staggering increase of $438.80 per ounce — or an uptick of approximately 21.26% in just under eight months.

To put this into perspective, if you had invested $10,000 in gold at the beginning of the year, your investment would now be worth about $12,126 – a profit of over $2,000 in less than a year. This remarkable growth outpaces many other investment options and has solidified gold’s status as a top-performing asset in 2024.

It’s worth noting, though, that gold recently surpassed its prior records, climbing to a high of $2,525 per ounce on August 20. While the current price of $2,502.53 represents a slight dip from this peak, it still signifies an extraordinary year-to-date performance. This minor pullback from the all-time high is not uncommon in financial markets and is likely a healthy consolidation after a strong upward move.

Find out how gold could be a smart addition to your portfolio.

Will the price of gold keep climbing?

Despite the impressive gains gold has already made, many analysts believe that the precious metal’s upward trajectory may not have peaked just yet. Various factors point to the possibility of continued price appreciation in both the near and long term.

One key driver is the shifting dynamics of global demand. In addition to sustained demand from traditional investors, merging economies are showing a heightened appetite for gold. This expanding consumer base could provide sustained upward pressure on gold prices. 

The gold mining industry also faces significant challenges on the supply side. New gold discoveries have become increasingly rare and existing deposits are often in remote regions. The process of gold extraction is also becoming more complex and costly as easily accessible reserves are depleted. These supply constraints, juxtaposed against rising demand, create a favorable environment for price growth.

Another factor to consider is the evolving role of gold. As technology advances, gold’s unique properties have become critical to new applications in fields such as electronics, healthcare and renewable energy. The expansion of gold’s industrial uses could contribute to increased demand, potentially supporting higher prices over time.

Central banks worldwide are also continuing to bolster their gold reserves, a strategy often seen as a hedge against economic uncertainties and currency fluctuations. This consistent demand from major financial institutions provides another pillar of support for gold prices.

Given these factors, some experts are projecting ambitious price targets for gold. While forecasts should always be viewed with caution, many analysts believe gold could reach new milestones in the coming months, with some even suggesting it could approach or surpass $3,000 per ounce before the year’s end.

The bottom line

Gold’s performance so far this year has been very strong, with a year-to-date increase of over 21%. This surge underscores gold’s enduring appeal as both a safe-haven asset and a potential source of significant returns. And while it’s impossible to accurately predict what will happen over the next few months, there are signs that gold’s price rise could continue for some time. 

So, while there are no guarantees, investors who want to capitalize on the potential for quick returns on a gold investment may want to buy in now. Waiting could mean paying more per ounce for the precious metal and earning less profit in return.

Hexclad is known for its innovative hybrid cookware, combining stainless steel and cast iron to create durable, high-performance pieces. Right now, you can save up to $875 on bestselling cookware and knife sets from the premium kitchen brand, just in time for Labor Day. Endorsed by celebrity chef Gordon Ramsay, all Hexclad products come with a lifetime warranty which should certainly provide some added confidence in your investment. 

Best Labor Day deals on Hexclad cookware 

Shop Hexclad and save on cookware sets, knife sets and more ahead of Labor Day.

Hexclad 12-piece hybrid cookware set: $700 ($1,175 value)

Give your home full cookware makeover with this incredible 12-piece set. The set features many of Hexclad’s bestselling hybrid cookware pieces made with nonstick, stainless steel and cast iron. It’s oven-, dishwasher-, and metal-utensil-safe.

The set includes a 12-inch hybrid pan with a lid, a 10-inch hybrid pan with a lid, an 8-inch hybrid pan with a lid, a 2-quart pot with lid, a 3-quart pot with lid and an 8-quart pot with lid.

Your order will also include a 4.5-quart hybrid deep sauté pan ($189 value) as a free gift.

You can get the Hexclad 12-piece hybrid cookware set (with free gift) from the company for $700, a $1,175 value.

Hexclad 6-piece hybrid cookware set: $399 ($650 value)

Want to start off with a smaller set? This six-piece Hexclad cookware set is an excellent introduction to the brand. The set includes three Hexclad hybrid pans with lids in 12-inch, 10-inch and 8-inch pan sizes.

This cookware set is oven-, dishwasher- and metal-utensil-safe. 

You will also receive a 10-inch hybrid wok ($119 value) with your order.

Score this set at Hexclad while you can. A $650 value, it’s now just $399 for Labor Day.

Hexclad Essential 6-piece Japanese Damascus steel knife set: $350 (21% off)

Home chefs and grilling enthusiasts will love this steel knife. Each knife is constructed from 67 layers of Japanese Damascus steel, providing a harder blade and sharper edge for easy slicing. The set includes an 8-inch chef’s knife, an 8-inch serrated bread knife, a 7-inch Santoku knife, a 5-inch utility knife, a 3.5-inch paring knife and a 9-inch honing steel to help keep the knives sharp.

Score the Hexclad Essential 6-piece Japanese Damascus steel knife set now for $350, reduced from $444 (21% off).

Labor Day 2024 is almost here, which means Labor Day sales are live now. The shopping experts at CBS Essentials have scoured the best Labor Day sales at all your favorite retailers to bring you the best mattress deals, the best luggage deals, the best deals on major appliances, the best patio furniture clearance deals and even the best tire deals to shop this Labor Day.

The hottest Labor Day appliance deals have arrived. The shopping experts at CBS Essentials have rounded up must-see Labor Day 2024 prices on refrigerators, ranges and laundry duos. These deals can help you save thousands of dollars on major household appliance upgrades. 

We know it’s expensive out there; with some consumer prices surging, these deals are coming just in time. So say goodbye to that old refrigerator or way-too-loud washing machine and pick a new appliance from our top sale recommendations below.

Samsung’s Labor Day kitchen appliance bundle deal

If you’re shopping for just one appliance, you can take full advantage of the deals below. But if you’re looking to complete a major kitchen makeover, there’s even better news: You’ll get bonus savings when you buy two or more select appliances direct from Samsung. Save an extra $100 when you buy two, save $250 when you buy three and save $500 when you buy four. Plus, save up to an additional $600 when you buy a Bespoke refrigerator with three other appliances.

Zero percent interest financing options are available, too, which can save you even more money. And the best part? You’ll have all your gorgeous new appliances installed in your home long before the holiday entertaining season arrives this year.

Shop the best Labor Day refrigerator deals

Think that buying an appliance on sale means you have to sacrifice smart tech? Nope. These must-have refrigerators are outfitted with coveted smart features such as touch screens, Wi-Fi connectivity and AI smarts that can help reduce your monthly utility bills.

We’ve found customer-loved refrigerators for more than $500 off for the long weekend. Discover our favorite Labor Day deals on refrigerators below.

Samsung Bespoke 4-door Flex refrigerator with Family Hub+: $515 off

This is the lowest price we’ve seen on the Samsung Bespoke refrigerator. The best thing about this fridge is its massive Family Hub touchscreen that’s double the size of the brand’s original version.

Samsung’s touchscreen refrigerators all feature Samsung’s Family Hub, with Amazon’s Alexa voice assistant built-in. The smart fridge component can connect with, and be used to control your phone, computer, TV, smart doorbell, Nest thermostat and Samsung home appliances. It can share photos, stream music and more. The Family Hub feature lets you see inside your fridge from anywhere (via your connected device), search recipes based on what you have on hand, plan weekly meals and even send cooking instructions to your Samsung smart oven.

The smart tech can also help you save energy thanks to its Samsung’s SmartThings Energy. See and manage your compatible Samsung appliance energy use and offers ways to save energy using AI Energy Mode. The new mode will even automatically optimize appliance settings to reduce the amount of energy consumed. This fridge is also marked down from $5,014 to $4,499.

Why we like this refrigerator:

This highly rated 4.2-star fridge includes a beverage center with a water dispenser and Samsung’s AutoFill water pitcher. The Dual Auto ice maker produces both cubed and Ice Bites ice. Samsung Bespoke fridges offer customizable door panels, with a choice of eleven colors and two finishes. This refrigerator comes with a two-year Bespoke warranty.

Bosch 800 series smart four-door french door refrigerator: $370 off

This 4.8-star-rated home appliance has two humidity-controlled compartments, a FlexBar storage bar for cold drinks, five adjustable tempered glass shelves and three one-gallon door bins. It has an internal water dispenser and an internal ice maker. 

This Bosch’s freezer sets it apart from other refrigerators on this list. It boasts a three-tier layered freezer drawer system. The organized shelving system offers small, medium and large options, along with LED lighting that ensures freezer items are clearly displayed, preventing food from getting buried and forgotten.

This high-tech refrigerator can be remotely controlled with the Bosch Home Connect app. You can even adjust its lighting and run diagnostics.

It’s on sale for Labor Day for $3,330 (regularly $3,700). 

Why we like this refrigerator:

Its three separate gallon door bins can accommodate two side-by-side one-gallon containers each, leaving tons of space for food on its shelves. This smart fridge can be controlled via your smart device. Its freezer storage offers more room and organization tools than other refrigerators.

LG Smart Wi-Fi Enabled InstaView door-in-door counter-depth refrigerator: $1,500 off

This LG refrigerator offers 23 cubic feet of storage capacity, allowing you to stock up on everything your family needs. Its counter-depth design ensures the perfect kitchen layout while the InstaView window allows you to see inside without opening the door, helping to maintain energy efficiency. This refrigerator also features dual ice makers, including slow-melting Craft Ice and a flexible fridge-to-freezer conversion option with five temperature settings.

LG has slashed the price of this popular Smart InstaView refrigerator for Labor Day, so for a limited time, you can add it to your kitchen for just $3,199. That’s $1,500 off its regular price.

Plus, free installation and haul away are included, and a two-year LG Premium Care protection plan can be added for just $25 more.

Why we like this refrigerator:

The LG Smart InstaView refrigerator offers a spacious 23 cubic foot capacity and an innovative InstaView window that helps save energy. With features like dual ice makers, including craft ice and flexible fridge-to-freezer conversion, it’s perfect for any kitchen update.

Frigidaire Platinum Series refrigerator: $247

If you’re looking for a small, budget fridge for the dorm, office or garage, we’ve found a refrigerator deal at Walmart that’s not to be missed. Right now you can get a 7.5 cubic-foot Frigidaire refrigerator for just $247. Though Walmart isn’t listing this as an “on-sale” price, you should know that this fridge is roughly half the price of other options in this size. 

At this price, you’re not getting any fancy features — it’s not Wi-Fi enabled, it doesn’t have a tablet or window built into the door, and there’s no ice maker. It will, however, keep your food cold and frozen. While it is on the small side, it’s larger and roomier than the typical mini-fridge. It’s a good refrigerator for accommodating one to two people. (If you have a larger family, you’ll definitely want a larger refrigerator.)

CBS Essentials senior managing editor Fox Van Allen just bought this refrigerator for his home. “It’s not the most high-tech fridge I’ve ever owned, but it looks nice and does exactly what I need it to do: keep my groceries cold.

“It really is surprising how much space you get inside for a $250 refrigerator,” he adds.

Get this 4.2-star-rated fridge at Walmart for $247.

Shop the best Labor Day range deals

Gas ranges can be bad for your health and for the environment. Upgrade to an electric range for less with these Labor Day range deals. 

LG smart Wi-Fi-enabled true convection InstaView electric range: $250 off

The smart LG home appliance is outfitted with five burners and includes an air-fryer function. The entire device can be controlled via your smartphone with LG’s ThinQ App. Don’t want to open the oven and let out all the heat? Check the progress of your meal by knocking twice on the oven’s window to activate the interior light. And you won’t have to worry about fingerprints all over your range — LG’s PrintProof fingerprint and smudge-resistant finish easily wipes clean with a soft, dry cloth.

“Loving this stove,” wrote an LG customer who purchased the home appliance. “The features are amazing. The convection oven and air-fryer options are the best. The burners heat up fast.”

Choose from two colors. This range is on sale right now for $1,099 (regularly $1,349).

Why we like this electric range:

The LG InstaView Window lets you see inside your oven without ever opening the door and letting heat escape. You can even activate the timer with a simple voice command, since ThinQ technology works with Google Assistant and Amazon Alexa. Plus, there’s a handy storage drawer below for your baking sheets, pots and pans.

Shop the best Labor Day washer and dryer deals

Ready to save big on a top-rated washer and dryer? The shopping experts at CBS Essentials have rounded up the best Labor Day deals on washing machines and electric dryers. 

Electrolux 24″ compact washer with LuxCare wash: 23% off

This 4.5-star-rated compact washer features the brand’s Perfect Steam technology, which uses steam to help lift dirt and stains from fibers. It features 12 wash cycles, including Electrolux’s LuxCare wash system, a Steam Refresh cycle to quickly remove wrinkles and refresh lightly soiled items without washing and a deep clean sanitization cycle that claims to remove 99.9% of bacteria. 

It’s 23% off right now. Get it for just $918 (regularly $1,199).

Why we like this washing machine:

At just 24 cubic feet, this washer is small enough to fit in a closet. This washing machine can be stacked with a matching dryer. It’s Energy Star certified. Its Platinum Star limited warranty includes two years of coverage on replacement parts.

LG smart Wi-Fi-enabled rear control electric dryer with EasyLoad door: 50% off

This 4.6-star-rated dryer features a dual-opening door to make unloading clean laundry a breeze. The 7.3-cubic-foot LG home appliance is outfitted with sensors that detect moisture and auto-adjusts drying time to saving energy.

The machine’s FlowSense duct clogging and clean filter indicators alert you when it’s time to clean the ducts and lint filter for the best possible dry.

“I’ve had this [for] a little over a month and so far I am pleased with it. The style is attractive and it functions well,” an LG reviewer says. “I also like the feature that lets you turn a light on while the dryer is running.”

Get it now for $575 (regularly $1,150).

Why we like this electric dryer:

It’s a decently sized 7.3 cubic feet, making it a good choice for families. It’s designed for quiet operation. A built-in sensor will detect moisture and can auto-adjust drying time. Plus, it comes in two colors.

Samsung Bespoke washer with Super Speed Wash and AI Smart Dial: $440 off

The Samsung Bespoke front-load washer with Super Speed Wash and AI Smart Dial was our bestselling washing machine of 2023. The 4.7-star-rated Samsung device features an AI smart dial that can learn and recommend your favorite cycles and let’s you customize your cycle list. This machine features Wi-Fi connectivity, so you can get end-of-cycle alerts, start, stop and schedule cycles and more right from your smartphone with the Samsung SmartThings app. Plus, it’s super fast. It can wash a full load of laundry in just 28 minutes.

Work from home? Enjoy a more peaceful laundry experience thanks to tech that reduces noise and vibration, compared to other Samsung washing machines.

This 5.3-cubic-foot washer is a great size for couples and small families. Right now, it’s marked down to $999 (regularly $1,439).

Why we like this washing machine:

It operates rapidly and quietly, and you can control and monitor it remotely from your smartphone. The AI smart dial eliminates the need for guesswork when selecting a laundry cycle.

Electrolux front-load Perfect Steam electric dryer: $401 off

The Electrolux front-load electric dryer with LuxCare dry uses a moisture sensor to prevent over or under-drying. Within about 90 seconds of starting the load, the dryer can calculate the most accurate time in which your clothes will be dried. The 4.7-star-rated electric dryer also includes an Instant Refresh cycle that allows you to remove wrinkles and refresh clothing in just 10 minutes. The electric dryer’s LuxCare lint shield helps avoid messes by trapping lint so it doesn’t make a mess, even if you empty it while clothes are in the dryer.

Choose from two colors. Get it for just $848 (regularly $1,249).

Why we like this dryer:

With a substantial 8-cubic-foot capacity, this dryer is an excellent option for large families. Its drum is illuminated by premium LED lighting, enhancing visibility. The dryer boasts a reversible door and is Energy Star certified. Additionally, its Platinum Star limited warranty covers replacement parts for two years.

LG smart front-load washer with TurboWash: $300 off

This 4.6-star-rated LG laundry appliance uses AI technology to select the optimal wash settings, including an allergy wash cycle, towel cycle, bright whites cycle and steam wash cycle — just to name a few. Started your laundry but need to pop out for an errand? Download the LG ThinQ app to control the LG smart front-load washer from your smartphone. Start cycles, check the time remaining and more. 

This Energy Star-certified washing machine measures 5.2 cubic feet, making it a good choice for couples and small families. 

Looking for a smart washer and dryer combo? If you have the matching LG dryer, this washer can auto-select a compatible drying cycle.

It’s on sale now for $1,199 (regularly $1,499).

Why we like this washing machine:

LG’s TurboWash technology can launder a full load of clothes in just 30 minutes. It seamlessly syncs with the corresponding LG dryer for an optimal drying cycle. You can conveniently control and monitor this laundry device via your smartphone.

Electrolux front-load washer with LuxCare wash: $150 off

The Electrolux front-load washer features the brand’s LuxCare wash. The system offers a thorough cleaning with improved wash actions, temperature control and smart load sensing. The washer can even automatically modify water levels for the amount of clothing in the unit. Need to clean something in a hurry? This 4.6-star-rated washing machine features a 20-minute fast wash cycle that allows you to quickly deep-clean items. This laundry appliance includes a reversible washer door and four-way recessed venting.

Get this machine for just $750 (regularly $900). 

Why we like this washing machine:

With a 4.4 cubic-foot capacity, this washer is an excellent choice for people living solo. The provided Extended Refresh function includes a rinse and spin after the wash cycle to maintain garment freshness until they can be transferred to the dryer. It’s Energy Star certified and comes with a 10-year motor and lifetime tub warranty for added assurance.

Electrolux 24″ compact front-load dryer: $160 off

This 4.2-star-rated Electrolux front-load dryer is $160 off for Labor Day. This four-cubic-foot compact condensation dryer is equipped with the brand’s Gentle Dry Technology, which uses lower heat to dry clothing and have less of an impact on the environment. The dryer’s Instant Refresh Cycle allows you to remove wrinkles and quickly refresh clothing, saving water and energy. It uses reverse tumbling, which alternates directions during drying to reduce wrinkling and tangling of garments, plus improve overall performance.

Get this dryer now for $920 (regularly $1,080). 

Why we like this dryer:

Featuring 11 functions tailored to various fabric types, this condensation dryer enables ventless installation and includes a direct drain kit. It’s stackable with the matching washing machine, making it space-efficient. Plus, it’s Energy Star certified for energy efficiency.