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What is Gold Spot Price?
Gold spot price is the value that the market determines an ounce of gold changes hands for. That is to say, at any given moment there are buyers and sellers of gold and the spot price is the average amount that they agree on for their exchange.
There are many factors that determine why the price of gold changes every day. They include:
- Geopolitical events
- Currency fluctuation
- Interest rates
- Supply and demand
- Speculative forces active in the market
- General levels of complacency and fear in the markets
Why is Gold Spot Price Important?
An understanding of current and historical spot price movements and trends can help you to determine opportune times to add to your stack. As the price of gold bullion products is directly related to the current spot price, purchasing at a time when gold spot price is low could allow you to acquire the gold you are considering at an outstanding price. The information on this chart empowers you and gives you the confidence to make these decisions.
Gold trades nearly at any given time, all over the world. The price fluctuates constantly, just as the price of other commodities like oil, timber, steel or natural gas. The old adage “knowledge is power” has never been more apt. You can always find the current spot price right here.
Why Does Gold Spot Differ from Real Gold Prices?
While gold spot is essential in determining the current price of gold bullion, you will quickly find that it doesn’t match up with the price you pay for gold products. In addition to the market price, there are other price inputs to consider when we try to understand the current price of gold. They include the amount of money it takes to get it out of the ground, purify it, put it in a tradable form and to market it.
While the idea of a premium added to your gold is unpleasant, it is vital not only to the production of the product in question, but also to the ease in which you can purchase it.
Add Some Gold to your Stack!
Are you ready to make a purchase with powerful knowledge behind? With this chart, you know exactly what the price of Gold is at any given time, and can view historic prices over the last decade. Take a look through our inventory of gold bullion, and consider adding some to your collection today!