How is gold price per ounce determined?

Many factors influence the spot price of Gold. Gold prices change every few seconds and there are an unlimited number of components that play a role in the price of Gold. Some of the reasons for changes in Gold prices include:

  • Current events
  • Market speculation
  • Currency values
  • Supply and demand
  • Buying power

Large entities and governments typically have substantial buying power and can impact the price of Gold per ounce and the Gold market. If a government makes a large Gold purchase, their demand for the product could affect Gold markets immediately. Supply and demand determines prices for commodities and the price of Gold is no exception. For investors who buy and sell Gold regularly, staying current with fluctuations in the market is crucial to financial success. It is worth making an alert for spot Gold prices so you can be emboldened in your purchasing power for Gold.

What is the gold spot price?

The spot price of Gold is the base price of Gold in unfabricated form without any markup. Because Gold spot prices are taken at different times in different locations around the world, Gold ounce prices vary. Commonly quoted Gold bullion markets, or those who influence the markets, include New York City, Chicago, Handy and Harman, Engelhard, Republic National Bank, London, Zurich, Paris, Frankfurt and Hong Kong. When buying Gold in the United States, the current price of Gold per ounce will generally be based on the current prices of Gold in New York or Chicago.

Why are gold prices so fluid?

Gold prices are fluid because they fluctuate throughout day due to a number of causes, including current events, market speculation and the strength of the dollar, to name a few. It is important to note that the current price of Gold will change frequently, even if it is only a few cents at a time. You can see the historical Gold prices on the chart above to get an idea on how it has trended over time.

Does my gold coin value change with the spot price?

The overall price of your coin will change with the spot price, but the Gold coin value also varies depending on factors such as mintage, scarcity and condition. Whether they come from a private mint or a sovereign mint, Gold coin values will differ. Coins and bullion make great opportunities to diversify your portfolio.

Is the U.S. Gold price the same no matter where I live?

No matter where you are in the world, the spot Gold price now is the same at any given moment. If the price of Gold was not the same, the opportunity for arbitrage would exist. This means you could simultaneously buy and sell Gold in different markets to take advantage of the current Gold price or premium differentials. 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. This is the basis for Gold bullion such as Gold American Eagles and Gold American Buffalos, as well as collectible vintage coins that have high numismatic Gold value.

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