Gold’s price is down by over 21%. Where will it head this September?

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September 1, 2026 / 12:17 PM EDT / CBS News

Gold has taken investors on a particularly volatile ride since the start of this year, and it appears that the volatility may not be over just yet. After climbing to a record $5,589.38 per ounce on January 28, the precious metal's price reversed course, falling substantially over the months that followed. And while there have been short periods of recovery along the way, that gap is still significant as we head into September.

As of September 1, gold's price is sitting at $4,369.19 per ounce, putting it about 21.8% below its January peak. But that price decline from the start of the year, while substantial overall, hasn't been particularly linear. Gold's price also regained ground at points along the way, including a strong run in August, only to retreat once again as expectations surrounding the economic landscape shifted.

Those swings make the outlook for September particularly difficult to pin down. After all, gold is now considerably cheaper than it was at its peak, but the forces capable of moving its…

Original source: https://www.cbsnews.com/moneywatch/