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Gold Spot Prices

The gold spot price is utilized globally in gold trading. Determining the gold spot price involves closely monitoring investment demand for the precious metal. It is subject to constant fluctuations due to various factors, such as safe-haven demand and speculation in the futures market.

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1 - 2 $2,338.70
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Gold Bar Asahi - 1 oz

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3 - 4 $2,351.20
5 - 9 $2,348.70
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gold-bar-perth-1-oz

Gold Bar Perth - 1 oz

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$2,346.65
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3 - 4 $2,354.15
5 - 9 $2,351.65
10 - 24 $2,349.15
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1 - 2 $2,357.65
3 - 4 $2,355.15
5 - 9 $2,352.65
10 - 14 $2,350.15
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1-oz-asahi-dragon-gold-bar

1 oz Asahi Dragon Gold Bar (In Assay)

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3 - 4 $2,356.15
5 - 9 $2,353.65
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gold-bar-valcambi-1-oz

Gold Bar Valcambi - 1 oz

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$2,348.70
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1 - 2 $2,358.70
3 - 4 $2,356.20
5 - 9 $2,353.70
10 - 14 $2,351.20
15 or more $2,348.70
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Gold Spot Price

The current market price of gold at which dealers can conduct over-the-counter transactions with one another is known as the spot gold price. One troy ounce of gold costs this amount; the higher the price, the greater the demand.

Investments mainly drive the gold market, but gold is also bought for other purposes, such as technology, medicine, assets, and jewelry production. Numerous factors impact the current spot price of gold, and some of the essential factors driving its value presently are as follows.

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Disclaimer: Foreign exchange rates and spot prices are delayed. The results are for indicative purposes only which may not match our offered pricing

Metal Performance History

Gold prices have fluctuated throughout the past. As of December 6, 2023, gold costs $2033.41 per ounce. The gold price graph from 1915 shows fluctuating prices. Gold peaked at $2,067.15 per ounce on August 6, 2020, and dropped to $34.75 on January 16, 1970. Gold's price relative to silver has traditionally been a good indication of market developments. Nowadays, the ratio has mainly stayed between 50 and 80, with a divergence suggesting a possible adjustment back to the average. Recent data shows a gold/silver ratio of 87.0. The ‘Gold Spot Price Chart’ provides a complete timeline for gold prices in USD per troy ounce from 1993.

Volatility of stock markets

The stock market can considerably affect spot prices. For instance, in the event of a decline in the stock market and a reduction in investor confidence in their investments, there may be an uptick in gold sales that could influence the spot price.

Fluctuation in fiat currencies

It is important to note that despite being traded across borders, gold's spot price is typically in US dollars. Therefore, when the dollar's value increases, the cost of purchasing gold also increases, potentially leading to a decrease in the spot price. Conversely, if the value of the US dollar declines, investors are more inclined to buy, driving the spot price back up.

Geopolitical issues

During times of uncertainty, such as economic crises, gold is considered the best asset for a safe haven. This is because geopolitical factors have a significant impact on its value. The spot price of gold increases when there is political and economic unrest. This is why gold is called a "crisis commodity".

If you have invested in gold bars or other forms of gold, a weak economy will cause the value of your investment to rise due to the increase in the spot price of gold.

Is gold a good investment?

Incorporating gold holdings into your investment portfolio can be advantageous for several reasons. This valuable metal has a reputation for retaining its worth, making it a safeguard against inflation. Additionally, gold can offer an excellent level of variety to your portfolio, as gold prices have traditionally negatively correlated with other types of assets.

  • Inflation Hedge
  • Throughout history, gold has proven to be an effective safeguard against inflation as it typically experiences a price increase when the cost-of-living rises. In the past half-century, investors have witnessed a surge in gold prices and a decline in the stock market during periods of high inflation. This is because when fiat currency loses its purchasing power due to inflation, the price of gold is often denominated in these currency units and therefore increases in tandem with other commodities. Additionally, gold is widely regarded as a dependable means of preserving value, prompting individuals to consider purchasing gold when they perceive their local currency to depreciate.

  • Deflation Protection
  • A time of falling prices, reduced business activity, and an economy struggling with too much debt is known as deflation. This type of situation has not been widely observed since the 1930s, during the Great Depression (although some areas of the world experienced minor deflation after the 2008 financial crisis). During the deflation period, the value of gold rose significantly compared to other goods and services due to people preferring to hold onto cash, and gold was seen as a safe place to store it.

  • Portfolio Diversification
  • One way to achieve diversification is by investing in assets that do not move in tandem with each other. Throughout history, gold has negatively correlated with stocks and other financial instruments. This is evident from past events such as: in the late 1970s, gold performed well while stocks did not; during the 1980s and 1990s, stocks were strong while gold was not; and in 2008, investors shifted towards gold as stocks experienced significant drops. Investors should combine gold with stocks and bonds to reduce overall volatility and risk.

How is gold price determined?

Gold prices are affected by several factors, including supply, demand, and investment behavior. Gold prices are determined in both international and domestic exchanges by demand and supply, the economic environment, and the current interest rate. Changes in such factors impact gold prices, either directly or indirectly. The London Bullion Market Association (LBMA) and COMEX Gold Prices are essential market reference prices that numerous market participants worldwide utilize.

Futures markets are exchanges that are regulated and open to the public, where the price of delivering gold or silver at future dates is traded. The US COMEX market is the largest and most influential in this field. The spot price for physical gold is often quoted as the current or nearest future price, which is technically incorrect as the latter is a price for gold or silver to settle in the future. At the same time, the former refers to the current market price at which the asset can be traded.

The prices of gold and silver are often based on immediate delivery from local futures markets in countries with futures exchange dealers. A futures price is the same as a spot price for retail customers. It's important to note that futures and spot prices are connected and aligned by traders who monitor borrowing costs for cash and gold, among other factors.

If the prices diverge too much, these traders will sell futures and buy OTC spots (or vice versa). There has been debate over whether the US futures markets or the London OTC spot markets drive the price, but this analysis shows that it varies over time. Despite the London OTC market being much larger than COMEX in terms of ounces traded, it only sometimes has the most significant impact on price.

FAQ's

What does gold spot price mean?

The current market value of gold is referred to as the spot price. This price indicates what gold could be sold or purchased for at the present moment. The cost of one troy ounce of gold usually increases with higher demand. The spot price is determined through over-the-counter trading, where traders engage in individual negotiations. Essentially, it represents the current market value of gold as a commodity.

What is the gold/silver ratio?

The gold-silver ratio measures the value of an ounce of silver compared to an equal weight of gold. It represents the ounces of silver required to purchase one ounce of gold. This ratio is helpful for traders who wish to vary the amount of precious metals they hold in their investment portfolio.

Which is a better investment gold or silver?

Gold may be a more secure option for individuals who place a premium on stability than silver, as it is less vulnerable to the unpredictable fluctuations of the silver market.

Investing in gold can be a prudent choice for those looking to safeguard their wealth against inflation over an extended period. Conversely, those prepared to assume more risk to attain higher returns may discover silver as a feasible alternative.

What is gold bullion?

Pure precious metals are referred to as "bullion". Gold bars or coins produced primarily for investment purposes are known as gold bullion. Gold bars and coins typically contain .995 to .9999 pure gold. Their weight and purity determine their costs and the price of gold today.

What are bid and ask prices?

When purchasing shares of a stock, the highest price a buyer is willing to pay is known as the "bid." Conversely, the "ask" is the lowest price a seller is willing to sell their stock or commodity. Typically, the bid price is lower than the ask or "offer" price, and the discrepancy between the two is known as the "spread."

What is the future of gold prices?

In late 2022 and early 2023, the gold market experienced a shift toward bullish momentum. The precious metal's price increased by 14% from November 2022 to early February 2023. This price rise was supported by the less hawkish tone of Jerome Powell, the head of the US Federal Reserve (Fed). Additionally, the revival of China's economy led to a surge in jewelry demand, further contributing to the increase in gold's price at the beginning of 2023.

Following Silicon Valley Bank's collapse in March, the banking sector was in turmoil, and investors sought refuge in safe-haven assets such as gold. As a result, the precious metal surpassed the $2,000 milestone.

Gold continued to rise, reaching an intraday high of $2,067 on May 4th. This increase was driven by concerns about the US debt ceiling and the Fed's indication of a pause in the tightening cycle, which spurred a surge in gold demand.

What is a gold bullion worth?

The value of gold can be influenced by various factors such as the ever-changing price, the quantity, and the form of the gold. These elements play a significant role in determining the worth of gold.

Where can I find the current gold spot price?

You can easily find the current spot price of gold, silver, and platinum on financial news websites, commodities exchanges, and financial data platforms. Alternatively, BOLD Precious Metals offers periodic spot prices and charts for these metals.

Is the gold spot price volatile?

The gold spot price can be volatile due to its sensitivity to economic, geopolitical, and market factors. It can experience significant price fluctuations over short periods.

How to buy gold at a spot price?

Large purchases from a reliable gold and silver bullion dealer like BOLD Precious Metals are one approach to buying gold, silver, and other precious metals as close to the spot price possible. We also provide lesser premiums for greater purchases of gold and silver, enabling our valued customers to buy the metal at more reasonable prices. Additionally, the investor can guarantee the bullion's authenticity, purity, and quality by purchasing gold, silver, and other precious metals from a trustworthy dealer.

What is the highest price of gold in history?

On March 8, 2022, the price of gold hit a record high of US$2,074.60 due to economic uncertainty caused by the COVID-19 pandemic.

What is the best gold coin to buy for investment?

BOLD Precious Metals provides a wide range of the best and most popular investment-grade gold coins, including,

  • American Gold Eagle
  • Gold American Buffalo
  • Canadian Gold Maple Leaf
  • Gold British Britannia
  • Gold South African Krugerrand
  • Gold Austrian Philharmonic
  • Gold Australian Kangaroo
  • Gold Somalian Elephant
What is ounce in gold?

When it comes to weighing precious metals, the troy ounce is the standard unit of measurement used. This particular metric is equivalent to 31.1034768 grams.

Is Gold Taxed?

Investments in gold are subject to taxes. If you sell specific investments, the money you earn will be subject to capital gains tax. A capital gain is a profit when you sell an asset for more than its original purchase price.

How to sell gold bullion?

Selling online can be the best way to get the most favorable prices because online merchants have lower expenses and can offer better prices. Alternatively, you can search for local bullion dealers to sell your gold, but it is essential to research their reputation before making a transaction.

It is also a good idea to obtain a quote or estimate of your gold bullion's worth before visiting the dealer. It is recommended to consider reputable dealers when purchasing investment gold, such as gold bars and coins, as they are more likely to offer fair prices and convenient cash options. It is important to sell your investment gold close to its market value.

What are the types of gold bullion?
  • Gold Coins
  • The appeal of gold coins lies in their universally recognized and aesthetically pleasing designs and their authenticity in terms of weight and purity, which central governments and sovereign mints guarantee.

  • Gold Bars
  • Investors tend to favor gold bullion bars above all else. The bars have various weights, purities, and styles, making a diverse selection. It can be daunting to choose from the many options available.

  • Gold Rounds
  • Some gold investors and collectors find gold rounds to be particularly appealing. Many gold rounds come in two different designs. Some have basic mint markings and identification markers to showcase the round's .999 or .9999 pure gold content.

    On the other hand, other gold rounds cater to collectors who desire recognizable coin designs but want to avoid paying the higher premiums that usually come with collectible gold coin programs.

  • Gold Fractionals
  • Precious Metals are also available in fractional sizes smaller than the standard 1 oz. Common fractions include 1/2 oz, 1/4 oz, and 1/10 oz, but some go as low as 1/25 oz. These weights are available at BOLD in gold, silver, platinum, and palladium.

  • Commemorative Coins
  • Coins that are issued to mark a specific event or issue with a unique design are called commemorative coins. Individuals often collect these coins, but some countries release them for everyday use alongside regular currency. The design of these coins is typically tied to the occasion they commemorate.

Why is the gold spot price important?

The gold spot price is crucial for investors, traders, and industry participants as it provides a real-time benchmark for valuing and trading gold. It's also a reference point for pricing other gold-related financial instruments.

Are there historical trends in the gold spot price?

Yes, gold has historically been known for its long-term price trends. It has often been seen as a store of value and a hedge against inflation and economic uncertainties.

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