Gold Spot Price & Charts
Our gold price page offers interactive charts depicting both current, live gold prices as well as historical prices. Please scroll down to view the charts as well as additional information on the gold spot price.
The Spot Gold Price
The spot gold price refers to the price of gold deliverable right now. This is in contrast to a gold futures contract price which depicts the price of gold for a future delivery date.
The spot gold price is determined by many factors including:
- Supply and demand
- Currency markets
- Current events
There are many other factors that may influence the price of gold, as well, such as general risk aversion or central bank activity.
Physical Gold As An Investment
One can invest in gold in many different ways. Some of these ways include gold certificates, ETFs, gold mining stocks and other forms of “paper” gold.
For those looking to buy physical gold, however, that they can touch, see and feel, there are different forms of the physical metal that may be purchased. These forms include gold coins, bars, rounds, ingots or even jewelry. Needless to say, there are some significant differences between owning physical gold bullion and paper investments based on or derived from gold.
Spot Gold Price FAQs
What does spot gold refer to?
The “spot” price of gold simply refers to the price that gold may be transacted at and delivered upon now as opposed to sometime in the future.
What is the difference between the bid and ask prices?
When looking at gold quotes, one will see a bid, or buy price, as well as an offer, or sell price. If you wish to buy gold, you will likely pay the offer price. Conversely, if you wish to sell gold, you will likely sell at the bid price. Different gold products can have varying spreads associated with them. Generally speaking, the tighter the spread is between the bid and ask the more liquid that particular market is.
How much gold is the spot price quoting?
The spot gold price is quoting the price for one troy ounce of gold. This quote does not contain any dealer premiums.
If spot gold is at $1200, can I buy a gold coin for $1200?
No. Just because the spot gold price is at $1200 does not mean you can go out and buy gold for $1200. Gold must be purchased from a dealer or from a mint. These mints and dealers add a dealer premium over and above the spot gold price.
What determines the spot gold price?
The spot gold price is driven by numerous influences. These influences may include overall supply/demand factors, risk aversion, central bank or government activities and hedging activities. Due to ever-changing market dynamics, the gold market is in a constant state of flux and thus the spot gold price is constantly changing.
What currency is spot gold quoted in?
The spot gold price is quoted in U.S. dollars per troy ounce.
Does gold trade at different prices in different markets?
The gold price is the same all over the world. An ounce of gold in U.S. dollars will be the same whether in the U.S. or Japan. Gold is most often traded in U.S. dollars. One should, however, consider exchange rates if buying precious metals in currencies other than U.S. dollars.
Does gold only trade during the day?
The gold market is open around the clock. At any given time, various market participants may look to transact gold. With market participants ranging in size from small speculators to central banks, market access around the clock is very important.
Is gold traded only in the U.S.?
Gold is traded all over the world. While the Comex exchange is used to determine the spot gold price, the yellow metal is also traded on exchanges in Zurich, Hong Kong, London and elsewhere.
Paper Gold Products
Is owning shares of GLD the same as owning physical gold bullion?
No. GLD is a gold backed exchange traded fund (ETF). This ETF seeks to mimic the price of gold by purchasing physical bullion and issuing shares of the trust to investors. The gold is held by a trustee, and individual investors cannot access the gold.
Can’t I just buy a gold futures contract?
A futures contract is a standardized contract for the purchase or sale of an asset at a set price and certain date in the future. Futures contracts are highly leveraged instruments and, as such, gains and losses are magnified. A futures contract does not equate to physical gold ownership, however, an owner of a futures contract can take steps to take delivery on that contract. Futures contracts carry a high risk of loss and are not suitable for all investors.
Other Gold Price FAQs
I’ve noticed that gold dealers offer a better price if I pay by wire or check versus a credit card. Why is that?
Precious metals dealers often work with very thin margins. These dealers offer better pricing on precious metals purchases made by wire or check because these payment methods do not carry the additional processing fee that a credit card does. When accepting credit card payments, dealers essentially add this additional processing fee onto the purchase price.
Shouldn’t a gold coin with face value always be worth more than a gold coin with no face value?
No. Gold coins derive the vast majority of their value from their bullion content and/or any numismatic value. While some types of coins are considered good, legal tender, the face value does not affect the coin’s premium nearly as much as its bullion content or collectability value.
Should I buy gold locally or from an online dealer?
Online precious metals dealers may have several advantages over brick and mortar coin shops. Due to their lower overhead costs, online dealers will often charge significantly lower premiums on precious metals than coin shops. In addition, online dealers will often carry much larger product selections because they are not limited by storage space.
What does “with assay” mean?
An assay means that the bullion product comes with a certificate of authenticity and purity. This way, you know that you are getting a specified amount of gold bullion of a specified fineness.
What are the most common forms of gold bought by investors?
The three main forms of gold purchased by investors are bars, coins and rounds.
Can I buy gold and hold it in my IRA?
Physical gold bullion may be purchased and held within an IRA account. There are, however, restrictions on what types of bullion may be purchased. In addition, the bullion must be held by an approved custodian.