What is the Gold Spot Price?
The spot price of Gold is the current price that a raw ounce of Gold can be bought and sold for immediate delivery. The spot price fluctuates constantly, making it important to keep up to date on performance indicators such as current events and market conditions, as they affect the buying and selling of Precious Metals. The price for any Gold product is the spot price plus a premium, which is added by all dealers to cover their overhead.
The Gold price is always quoted in ounces but can easily be converted into grams or kilos, depending on the quantity you want to buy or sell.
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GOLD Price FAQs
The ounces Americans know in everyday life are actually called avoirdupois ounces. The Gold price is measured in troy ounces, which are equal to 1.09711 avoirdupois ounces. This is also true of other Precious Metals, including Silver, Platinum and Palladium.
The Bid Gold price per ounce is the current highest market offer to sell to a dealer. Consumers can expect to receive the bid price when selling Gold to a dealer.
The Ask current Gold price per ounce is the current minimum price for a dealer to sell in the market. Dealers will offer to sell Gold to you for the ask price.
The Spread, or the bid-ask spread, is the difference between the Ask Gold price per troy ounce and the Bid Gold price and represents the dealer’s profit. Dealers will offer to sell Gold to you for the Ask price, and when you decide to sell Gold back, the dealer will pay the Bid price.
First, decide what kind of Gold you’re interested in buying. There are several types of Gold, ranging from scrap to bullion products.
Second, determine the form in which you’d like to buy. If you’re buying Gold bullion, choose between Gold coins, bars and rounds (they look like coins but carry no face value and are not backed by a sovereign government as currency).
Next, do your research and identify a reputable seller. For example, The American Numismatic Association offers a list of Authorized Dealers. Atlas Gemstones has been on that shortlist for many years.
Finally, prepare for how you will securely protect and store your Gold. There are many factors and options for this. Of course, many choose to store their Gold in their own vaults or lockboxes at home, as well.
Today’s spot price of Gold, like all days, is constantly changing according to supply and demand, market conditions, geopolitical forces and many other variables. However, today’s price of Gold could also refer to the total percent change of the spot price, as calculated relative to the price at the start of that trading day.
A troy ounce of Gold is equal to 31.10 grams. It’s a unit of measure first used in the Middle Ages, originating in Troyes, France. You may notice that this is slightly heavier than the 28.35 grams we’ve come to expect from the standard ounce (also known as the avoirdupois ounce). Troy weight units are primarily used in the Precious Metals industry.
The price of Gold can fluctuate based on market conditions, supply and demand, geopolitical events and more. When someone refers to the price of Gold per ounce, they are referring to the spot price. The spot price of Gold is always higher than the bid price (what dealers pay for Gold per ounce) and always lower than the ask price (what you will pay a dealer for Gold per ounce). The difference between the spot price and the ask price is known as the premium of Gold per ounce.
No matter where you are in the world, the spot Gold price now is the same at any given moment. Gold is traded in U.S. dollars so the price per ounce of Gold is simply converted to the local currency to reflect one troy ounce of Gold price.
Make the most of your Silver with Precious Metals IRAs, which are Self-Directed IRAs. Just like with regular IRAs, any profits on your Silver investment sales can be tax deferred as long as the proceeds are kept with your reinvestment custodian or transferred to another IRA account.
Some Gold investors would prefer not to house or ship their Precious Metals, so they invest in what is known as a Gold Share with an ETF. These shares are unallocated and work directly with a Gold Fund company who then backs up the Gold shares or stocks, and thus takes care of shipping and storage. With that, the Gold buyer does not have to worry about holding the tangible asset. However, Gold investors who prefer to hold and see their investments do not care for this option.
Are you ready to sell your Gold? Atlas Gemstones offers you the option to sell all of your Precious Metals, easily and fast, all online! Sell Silver to us and get a step-by-step process of how to sell your Gold bars, coins and rounds to Atlas Gemstones.
When someone refers to the price of Gold, they are usually referring to the spot price of Gold. Gold is considered a commodity and is typically valued by raw weight (in this case the weight of pure metal content). Unlike other retail products where the final price of a product is largely defined by branding and marketing, the market price of 1 oz of Gold is determined by many factors including supply and demand, political and economic events, market conditions and currency depreciation. The price of Gold changes constantly and is updated by the minute on AtlasGemstones.com.
Visit AtlasGemstones.com/gold-price to view live Gold values as well as historical data related to the Gold spot price. All prices are updated in real-time. View the bid, ask and spot price at any time, on any device.
The worth of Gold is determined by the current spot price. This price is determined by many factors such as market conditions, supply and demand, and even news of political and social events. The value or worth of a Gold product is calculated relative to the weight of its pure metal content and is measured in troy ounces. However, collectible or rare Gold products may carry a much higher premium over and above the value found in its raw metal weight. Additionally, other factors such as merchandising, packaging or certified grading from a trusted third-party may influence the final worth of the Gold product you are purchasing.
Gold bullion refers to a Gold product that is valued by and sold mostly for its metal content and does not contain any numismatic or collectible value. Gold bullion often appears in the form of bars, rounds and Sovereign coins that carry a face value and are backed by a government. These products are most commonly categorized therefore as either .999 fine or .9999 fine Gold bullion, meaning the product is either 99.9% or 99.99% pure Gold.