Gold prices saw a modest increase on Tuesday, November 3, 2026, reaching $3,948 per ounce at 9:20 a.m. Eastern Time. This marks a $13 gain from the previous day and a $66 decline compared to the same time last year. Over the past month, gold has dropped by 6.4%, reflecting a broader downward trend despite the recent uptick.
Investors often turn to gold as a hedge against inflation and market volatility. While gold has historically appreciated, its performance lags behind traditional stocks, which averaged 10.7% annual returns from 1971 to 2024, compared to gold's 7.9%. However, gold remains a reliable asset during economic uncertainty, serving more as a store of value than a typical investment.
There are multiple ways to invest in gold, from physical bars and coins to exchange-traded funds (ETFs). James Taska, a fee-based financial advisor, notes that ETFs offer easier portfolio rebalancing and more stable trading spreads compared to physical gold. Other options include gold futures contracts and mutual funds, each with its own advantages and risks.
As of 9:20 a.m. ET, other precious metals were trading at $50 per ounce for silver, $1,443 for platinum, and $946 for palladium. While these metals can diversify a portfolio, they tend to be more volatile than gold. Experts recommend considering gold for long-term stability, especially amid persistent inflation and market uncertainty.