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How Much Your Gold is Worth
The gold price is always quoted in troy ounces but can be converted into any quantity a person wants to buy or sell. Gold spot prices are universal, as most gold markets use live gold prices listed in U.S. dollars, so the price of gold per ounce is the same across the globe.
APMEX allows you to convert the gold spot price to many different currencies and calculate based on quantity, the unit of measurement, and purity to make the best purchasing decision.
Gold Spot Price FAQ
What is the price of gold today?
When someone refers to the price of gold, they usually refer to the spot price. This metal is considered a commodity and is typically valued by the weight of the pure metal content. Today’s spot price of gold, like all days, is constantly changing according to many variables. However, today’s gold price 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.
APMEX lists live gold prices and Silver prices as well as historical data related to gold spot prices. All prices are updated in real-time. View the spot price at any time on any device on our website or our mobile app.
How is the spot price of gold determined?
Gold is traded worldwide across many different exchanges – the most popular being Chicago, Hong Kong, London, New York, and Zurich. The COMEX is part of the CME Group in Chicago and is the most important exchange for determining the price of gold. The gold spot price and silver spot price are computed using data from the futures contracts traded on the Comex.
How often does the price of gold change?
Gold prices are constantly changing during market hours. The spot price of gold and the spot price of silver is determined by many domestic and foreign exchanges, which allows the spot prices to update from Sunday through Friday, 6 pm EST to 5:15 am EST. While gold, and other precious metals, may experience longer periods of relatively consistent prices, prices can also change rapidly within a moment's notice.
The price of gold can be a challenging thing to keep track of because it changes constantly based on current world market conditions, which affects both buying and selling, making it vital for investors to have up-to-date information about where their gold investment might go next. There are plenty of ways to get this data, such as checking market reports from experts to remain involved with the precious metals industry.
What is Gold Worth?
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 news of political and social events. A gold product's value, or worth, is calculated relative to its pure metal content's weight and measured in troy ounces. However, collectible or rare gold products may carry a much higher premium over and above the value found in their raw metal weight.
Other factors such as merchandising, packaging, or certified grading from a trusted third party may influence the final worth of the gold product you purchase. Similarly, the silver price is determined by many factors and is relative to the weight of its pure metal content.
What is Gold Bullion?
Gold bullion refers to a gold product valued by and sold primarily 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 as either .999 fine, .9999 fine gold bullion, and even .99999 fine gold, meaning the product is either 99.9%, 99.99% or the highly desirable 99.999% pure gold. Bullion comes in various sizes, including 1 gram, 1 oz, 5 oz, 10 oz, and 1 kilogram, to name a few. This gives investors numerous options to choose from to suit their needs best.
Browse our broad selection today and shop for gold rounds and bars to add to your collection.
Silver bullion refers to a silver product valued and sold for its metal content. Silver bullion's worth is dependent on the silver price per ounce.
What is a Troy Ounce of Gold?
A troy ounce of gold is equal to 31.10 grams. It is a unit of measure first used in the Middle Ages, originating in Troyes, France. Troy weight units are primarily used in the Precious Metals industry.
Is There a Difference Between a Troy Ounce and an Ounce?
The ounces Americans use in everyday life are avoirdupois ounces while the gold price is measured in troy ounces. Troy ounces equal 1.09711 avoirdupois ounces and 31.1 grams in 1 troy ounce. This is also true of other precious metals, including silver, platinum, and palladium.
Is the U.S. Gold Price the Same Regardless Where I Live?
No matter where you are, the gold spot price is the same at any moment. Gold and silver are traded in U.S. dollars, so the price per ounce of gold and price per ounce of silver is converted to the local currency to reflect one troy ounce of gold price.
What is the Ask Price of Gold?
The ask price of gold 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 asking price.
The asking price is different from the spot price. For example, if the spot price per ounce of silver is $30, the ask will be higher and include a premium that factors the cost of manufacturing.
What is the Bid Price of Gold?
The bid price of gold 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.
What Does the Spread for the Gold Price Mean?
The spread, or the bid-ask spread, is the difference between the asking price of gold per troy ounce and the bid price of gold and represents the dealer’s profit. Dealers will offer to sell gold to you for the asking price, and when you decide to sell gold back, the dealer will pay the bid price. For example, if a dealer purchased gold for $1,820 per ounce and then sold that same gold for $1,850 per ounce, the spread is $30.
What is the Premium on Gold Prices?
The premium is the additional cost of a bullion item over the spot price of the precious metal contained in the item. The premium typically includes the costs of production and distribution.
All precious metals carry a premium over spot to account for manufacturing costs. For example, if the live Silver spot price is $30, expect single-ounce rounds to be priced higher than this.
How Do I Buy Gold?
First, decide what kind of gold you are interested in buying. There are several types of gold, ranging from scrap to bullion products. Second, determine the form in which you would like to buy. If you buy gold bullion, you will choose between purchasing physical gold - like coins, bars, and rounds ranging from 1 gram to 100 ounces and more - or gold certificates.
A gold certificate is a piece of paper stating the specific amount of gold an investor owns that is stored elsewhere. It provides a great alternative to purchasing physical gold bullion. Gold certificates differ from gold bullion because the investor never physically encounters or stores the gold. Some investors prefer the convenience of buying gold certificates. In contrast, others wish to physically see their gold bullion in their hands - both options are available to fit the investors' preferences and investment portfolios.
After determining which form you prefer to purchase, research and identify a reputable seller. For example, the United States Mint does not sell directly to the public but offers a list of Authorized Purchasers. APMEX has been on that shortlist since 2014 and is in such good company as Deutsche Bank, Scotia Bank, and Fidelitrade, to name a few.
Finally, prepare for how you will securely protect and store your gold. There are many factors and options for this. For a small fee, you can store it with a trusted third party such as Citadel - a service offered by APMEX - or you could choose to store your gold in your own vault or lockbox at home.
Ready to Sell Your Gold Bullion Online?
APMEX offers you the option to sell your precious metals quickly and easily, all online! Sell gold to us and receive a step-by-step process on how to sell your gold coins, bars, and rounds to APMEX.
What is a Precious Metals IRA?
Precious Metals IRAs, which are self-directed IRAs, make the most of gold values. Like regular IRAs, any profits on your gold investment sales can be tax deferred as long as the proceeds are kept with your reinvestment custodian or transferred to another IRA account. When you place the precious metal in the IRA, you can further diversify your portfolio and hedge against economic downturn.
There are limitations on the precious metals eligible for IRAs. Gold must be 99.5% pure to be eligible for an IRA, and silver must be 99.9% pure. Watch the silver price and make informed investments.
What is a Gold Share or Gold Trust?
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 that backs up the gold shares or stocks, which takes care of shipping and storage. With that, gold buyers do not have to worry about holding the tangible asset. However, gold investors who prefer to hold their investments physically do not care for this option.
Is Gold Taxed?
When shopping online with APMEX, you may be required to pay state and local sales tax on your purchase, but the tax rate you pay may vary depending on the address where we will be shipping your order. For more information on individual states, visit our State Tax Information page.
Is My Gold Price Locked in When My Order is Placed?
When ordering with APMEX, the gold price when your order is submitted is the locked in price. APMEX will send you an order confirmation email detailing your purchase and confirming the secured price.
Is the Price Different if I Pay for My Gold by Check than if I Pay by Credit Card?
There are some price differences depending on the payment method you use – certain methods offer discounts. For a full list of our accepted payment methods and discounts offered, visit our Payment FAQ page.
Who Makes Gold Bullion and Coins?
Gold bullion is produced by mints located worldwide, by either a sovereign mint or privately owned. Gold bullion produced by these mints typically comes in coins, bars, and rounds, with a wide selection of sizes ranging from grams to ounces to kilograms available. For collectors and investors, it is important to know the difference between sovereign mints and private mints.
Sovereign mints, also known as government or national mints, manufacture bullion produced for legal tender in that country. A face value is typically associated with bullion and an official legal tender status. Widely collected bullion, such as the American Eagles and American Gold Buffalo coins, and these sovereign mints produce the Canadian Maple Leaf series. Examples of these well-known sovereign mints include the United States Mint, Royal Canadian Mint, The Perth Mint, the Austrian Mint, and more.
Private mints, as the name suggests, are privately owned and do not produce bullion for legal tender. Private mints make their own designs, branding, purity, and metal content. No legal requirements or restrictions are placed on private mints to produce any specific amount of Precious Metals. While private mints do not produce legal tender bullion, they create countless popular and unique products each year that are great additions to many collections. Examples of these private mints include Engelhard, PAMP Suisse, Johnson Matthey, and more.
The History of Gold
Gold has been prized by every major civilization for its unique properties. It is not easily corroded or tarnished by other elements. It is non-toxic and has a very low reactivity to other substances. Gold is scarce but not too rare, and it has a relatively low melting point to be turned into coins or jewelry easily. Gold also has a long history of being used as a global currency and a store of value.
The first gold coins were minted in Lydia, a region in present-day Turkey, around 600 BC. The gold was brought from nearby rivers and mines, and the coins were stamped with images of animals to indicate their value. Gold coinage then spread to the Persian Empire, where Gold Daric coins became popular. Darius I, the king of Persia from 522-486 BC, even went so far as to put his image on the Daric.
Gold coins continued to be used throughout the ancient world, particularly in Asia and the Middle East. In China, gold ingots were used as currency as early as 1200 BC. The first gold coins in Japan appeared in the 7th century AD, and by 550 AD, gold coins were being minted in Byzantium, the capital of the Eastern Roman Empire.
Gold was also an important part of the economy in medieval Europe. By the 13th century, gold coins were commonly used in international trade, and by the end of the 14th century, gold florins were being minted in Florence, Italy. Gold remained an important currency throughout Europe until well into the 20th century.
The discovery of the metal in California in 1848 and Australia in 1851 led to a massive influx of new gold into the global economy. This, combined with the economic turmoil of the times, led to the metal becoming a popular investment. In 1873, gold was made optional in U.S. coinage, and in 1900 it became illegal for U.S. citizens to own bullion like gold bars and coins. The price of gold was fixed at $20.67 an ounce from 1934 until 1968 when it began to fluctuate again.
In 1971, the U.S. abandoned the Gold Standard completely, and the price of gold has since been allowed to float freely on the open market. Today, gold is still prized for its unique properties and is used in various ways: jewelry, coins, bullion bars, and a popular investment vehicle.
Ready to invest in precious metals? After finding the perfect gold products for your collection, find today's silver spot price and the silver products your collection is missing.