Gold Price Today — Friday, March 13, 2026: Spot Gold Near $5,096, Futures Pull Back From Record Highs
Gold prices are trading around the $5,096 per ounce level on Friday, March 13, 2026, pulling back from the historic all-time high of $5,595.42 set on January 29, 2026. Despite the recent dip, gold futures remain up nearly 19% year to date, driven by the ongoing Iran conflict, inflation uncertainty, and relentless safe-haven demand.
Gold Price Today: Spot and Futures Levels
The current gold spot price as of March 13, 2026 is $5,095.93 per troy ounce. The precious metal has been consolidating in a tight range this week after a volatile stretch driven by geopolitical shock and macro data releases.
Gold April futures opened at $5,194 per troy ounce on Wednesday, down 0.9% from Tuesday's closing price of $5,242.10. The gold price has risen nearly 19% year to date. Friday's session is being closely watched as the US government releases second-estimate GDP data and University of Michigan consumer inflation expectations.
| Metric | Price |
|---|---|
| Gold Spot Price (March 13) | ~$5,096/oz |
| Gold April Futures (March 11 open) | $5,194/oz |
| All-Time High (January 29, 2026) | $5,595.42/oz |
| Year-Over-Year Gain | ~$2,280+/oz |
| Year-to-Date Gain | ~19% |
What Is Driving Gold Futures Higher in 2026
The outlook for interest rates remains uncertain as the Iran war continues, disrupting global oil supply and raising gas prices in the US. A resurgence of inflation would limit the Fed's ability to lower interest rates, even as the labor market shows continued weakness — the US economy lost 92,000 jobs in February.
High volatility in gold prices is expected this week amid the release of US consumer price index data for February, US GDP data for the fourth quarter and full year 2025, initial jobless claims, and other macroeconomic data.
Gold prices are expected to post moderate gains over the next month, with the main drivers of the bullish trend being geopolitical uncertainty, the escalating conflict in the Middle East, and expectations of monetary easing by major central banks. However, a strong US dollar and elevated interest rates may limit the upside.
Fed Rate Outlook and Gold
The Federal Reserve's interest rate path remains the single biggest variable hanging over gold futures right now. The probability of a rate cut to 3.25–3.50% in March stands at just 4.4%, while 95.6% of market participants expect rates to remain unchanged at 3.50–3.75%. Keeping borrowing costs at current levels could limit the upside potential of gold in the short term.
Major Bank Gold Price Targets for 2026
Wall Street remains broadly bullish on gold despite the recent pullback from all-time highs. Major banks including J.P. Morgan have set a $6,300 price target for gold in 2026, while Deutsche Bank is forecasting $6,000 per ounce.
More aggressive forecasts project gold trading in a $5,709–$7,031 range for the year, with the most optimistic outlooks targeting as high as $10,762 per ounce. Those upper-range forecasts hinge on a significant escalation in Middle East conflict, a sharp Fed pivot, or a major deterioration in the US dollar.
This is not financial advice. Gold prices fluctuate constantly. Consult a licensed financial advisor before making investment decisions.
