Investors tracking the price of gold in recent years have had a lot to monitor – and for good reason. With inflation spiking to a multi-decade high in June 2022, many investors turned to gold for its safe-haven attributes and its ability to maintain value during inflationary periods. That surge in interest, in part, caused gold prices to spike. And even though inflation has since dropped significantly from that point, the price of gold remains substantially elevated, up by more than 60% since early 2024. Still, if you're looking for a reliable hedge against inflation, a smart way to diversify your portfolio and a tangible asset that you can hold, evaluate and buy and sell with ease, gold is likely the metal for you right now.

Before getting started, however, prospective investors should evaluate the gold market closely to ensure that the precious metal aligns with their investing intentions. And that evaluation starts, in part, with understanding a few key items about gold prices this June. Below, we'll examine four key points that investors should know before getting started with the shiny metal.

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Everything to know about gold prices this June

Here are four key items to know about the price of gold this June:

The price is down from a recent record high

The price of gold as of May 30, 202, sits at $3,307.21 per ounce. And while that may seem high to many, it's actually down by around $100 from the recent $3,400 price record it surpassed toward the end of April. But with expectations that the price will rise again, perhaps in the short term, many may want to buy in now before that happens. Some experts are even predicting a gold price of $4,000 per ounce if market conditions allow. Waiting to invest then may not be beneficial (and you'll lose the aforementioned portfolio protections in the interim).

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The climate is right for another price spike

With another inflation reading set to be released on June 11 (this time for May) and another Federal Reserve meeting set for June 18 – both of which have been known to drive gold prices – the climate this June is right for another gold price change, perhaps in yet another upward direction. It's worth monitoring these dates (and some others), then, to more precisely determine an affordable entry price point. And, for existing investors, it may be worth monitoring developments on select June dates for opportunities to sell and turn a quick profit, too.

Gold prices typically only rise over time

Regardless of any price drops in June, investors should remember that, over time, gold prices will typically only rise. Sure, minor fluctuations and drops in the price are inevitable, but historically, gold prices only increase. All you have to do is look back to that early 2024 timeframe – when gold was barely over $2,000 per ounce – to see this dynamic illustrated. What does this mean for those who haven't yet invested in the metal? It means that waiting may not be smart, as it could risk you being priced out of the gold market altogether. Instead, utilize this time to explore ways to invest in gold without having to pay today's top price.

There are still cost-effective ways to invest

Sure, today's high gold prices may have limited the scope of investments to explore. But that doesn't mean you need to remain on the sidelines, either. There are still cost-effective ways to get started with gold, like fractional gold which allows investors to buy in sizes smaller than the traditional one ounce. 

Dollar-cost averaging, meantime, could also be worth exploring as the strategy allows you to consistently purchase gold for a smaller amount of money which, over time, will consolidate into a larger investment. This being noted, no matter which way you invest, be sure to limit gold to 10% or less of your overall portfolio to avoid crowding out other, reliable income-producing assets at the same time.

The bottom line

Gold prices change daily and investors will need to account for that reality at all times, but particularly this June. By understanding the above four items and strategically applying this knowledge to their individual gold plan, investors can set themselves up for long-term gold investing success, or, potentially, even a quick profit made on an asset traditionally known for sitting idle in a retirement account.

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