What Is Gold Spot Price
The spot price of gold is the most common standard used to gauge the going rate for a troy ounce of gold. The price is driven by speculation in the markets, currency values, current events, and many other factors. Gold spot price is used as the basis for most bullion dealers to determine the exact price to charge for a specific coin or bar. These prices are calculated in troy ounces and change every couple of seconds during market hours.
Which Gold Bar Should I Choose
With different weights and measures of gold bars and coins it can be difficult to know what to choose when adding gold to your portfolio.
The most famous gold bar is the London Good Delivery bar, which is 400 oz. These standard Good Delivery bars are traded on international wholesale markets, it is from this trade that we derive the spot price of gold from. Dont worry though, there are plenty of smaller bars to choose from to suit various requirements and investment strategies.
Here at GoldCore we operate at the highest standard and only sell gold bars from LBMA-approved refiners and gold coins from the most reputable government mints. You can read about gold bullion investment here.
There are three main factors that influence the price of a gold bar or coin:
- The price of 1 troy ounce of gold
- The amount of troy ounces of gold in the bar
- The prevailing premium
The prevailing premium of a bar or coin is determined by the supply and demand for that particular coin or bar.
If you wish to make gold a part of your portfolio and need any further help, please contact GoldCore by chat, or and our experienced team will be glad to assist.
What Other Types Of Gold Bullion Products Should I Consider Buying
Investors buy 1 kilo gold bars normally to secure lower gold prices per unit. They normally keep them in Secure Storage and rarely take delivery. Investors also buy gold bars as an alternative to buying kilo gold bars as they prefer the divisibility and potentially increased liquidity in a systemic crisis of owning some smaller bars.
For investors investing on a long-term basis, we advise a mix of gold bar formats, thus allowing for most eventualities and on average lower premiums.
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Why Are Gold Prices Always Fluctuating
The price of gold is in a constant state of flux, and it can move due to numerous influences. Some of the biggest contributors to fluctuations in the gold price include:
- Central bank activity
- Investment demand
Currency markets can have a dramatic effect on the gold price. Because gold is typically denominated in U.S. Dollars, a weaker dollar can potentially make gold relatively less expensive for foreign buyers while a stronger dollar can potentially make gold relatively more expensive for foreign buyers. This relationship can often be seen in the gold price. On days when the dollar index is sharply lower, gold may be moving higher. On days when the dollar index is stronger, gold may be losing ground.
Interest rates are another major factor on gold prices. Because gold pays no dividends and does not pay interest, the gold price may potentially remain subdued during periods of high or rising interest rates. On the other hand, if rates are very low, gold may potentially benefit as it keeps the opportunity cost of holding gold to a minimum. Of course, gold could also move higher even with high interest rates, and it could move lower even during periods of ultra-low rates.
Gold Futures And Paper Gold Faq
What is a gold futures contract?
A gold futures contract is a contract for the sale or purchase of gold at a certain price on a specific date in the future. For example, gold futures will trade for several months of the year going out many years. If one were to purchase a December 2014 gold futures contract, then he or she has purchased the right to take delivery of 100 troy ounces of gold in December 2014. The price of the futures contract can fluctuate, however, between now and then.
If I want to buy gold, couldnt I just buy a gold futures contract?
Technically, the answer is yes. One could purchase a gold futures contract and eventually take delivery on that contract. This is not common practice, however, due to the fact that there are only certain types of gold bullion products that are considered good delivery by the exchange and therefore ones choices are very limited. In addition, there are numerous fees and costs associated with taking delivery on a futures contract.
Isnt buying shares of a gold ETF the same thing as buying bullion?
Although one can buy gold ETFs, they are not the same as buying physical gold that you can hold in your hand. ETFs are paper assets, and although they may be backed by physical gold bullion, they trade based on different factors and are priced differently.
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Is The Live Gold Price Just For The Us
Gold is traded all over the globe, and is most often transacted in U.S. Dollars. Gold can, however, also be transacted in any other currency after appropriate exchange rates have been accounted for. That being said, the price of gold is theoretically the same all over the globe. This makes sense given the fact that an ounce of gold is the same whether it is bought in the U.S. or Asia.
The price of gold is available around the clock, and trading essentially never ceases. While investors in the U.S. are sound asleep, for example, gold trading in Asian markets may be robust. The market is very transparent, and live gold prices allow investors to stay on top of any significant shifts in price.
The current gold price can be readily found in newspapers and online. Although prices per ounce in dollars are typically used, you can also easily access the gold price in alternative currencies and alternative weights. Smaller investors, for example, may be more interested in the price of gold per gram than ounces or kilos. Larger investors who intend to buy in bulk will likely be more interested in the gold price per ounce or kilo. Whatever the case may be, live gold prices have never been more readily accessible, giving investors the information they need to make buying and selling decisions.
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 come in coins, bars and rounds with a wide selection of sizes available to fit any type of investment. For collectors and investors, it is important to know the difference between sovereign mints and private mints.
Sovereign mints, also known as government mints or national mints, manufacture bullion that is produced for legal tender in that country. Typically, there is a face value associated with the bullion and an official legal tender status. Widely collected bullion such as the American Eagles and Canadian Maple Leaf series are produced by these sovereign mints. 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, like the name suggests, are privately owned and do not produce bullion for legal tender. Private mints make their own designs and branding, purity and metal content of their choosing. There are no legal requirements or restrictions 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.
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Why Buy 1 Kilo Gold Bars
1 kg Gold bars are sought after by both investors adding bullion to investment portfolios and by the store of value buyers alike. 1 kilo gold bars are fast becoming the most popular bullion bar for high net worth and institutional investors in China and Asia.
Gold bars are conveniently sized, affordably priced, and are increasingly well-known and liquid in the international marketplace. They generally are sold for slightly lower premiums than 1 oz gold bars and 10 oz gold bars.
How Much Gold Is In A 1kg Gold Bullion Bar
Gold Bullion 1 kilo bars have a minimum purity of 0.995 and are normally 0.999 pure or even 0.9999 pure.
These bars contain exactly 10 troy ounces of gold. GoldCore only sells gold bars of recognized and widely-traded brands from LBMA approved refineries such as Johnson Matthey, Credit Suisse, MKS PAMP, Heraeus and government mints such as the Royal Canadian Mint and Perth Mint. Perth Mint gold bars remain our most popular bullion kilo gold bar.
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Is The Gold Price The Same As The Spot Price
When looking at gold prices, the figures quoted are typically going to be spot gold prices unless otherwise specified. The spot gold price refers to the price of gold for delivery right now as opposed to some date in the future. Spot gold prices are derived from exchange-traded futures contracts such as those that trade on the COMEX Exchange. The nearest month contract with the most trading volume is used to determine the spot gold price.
History Of The 1 Kilo Gold Bar
The history of gold bars, especially bars as large as 1 kilo, is hard to trace. Some historians believe that the first mention of something like a gold bar dates back to Ancient Rome, though the earliest “gold bar” probably looked more like a lump than a smooth, rectangular brick.
The Roman author Tacitus references a story told by Cesellius Bassus wherein he claims to know the location of immense stores of gold, not wrought into the form of a coin, but in rude and shapeless ingots. Ingots were made from pouring molten gold into a clay mold. These molds were refined over time and may have eventually led to the production of smoother, more recognizable gold bars.
With that said, not all gold bars for sale are equal. Some have the advantage of being crafted by some of the finest producers in the world, including the Perth Mint in Australia, Johnson Matthey, Asahi, and the Royal Canadian Mint. All of U.S. Money Reserves 1 Kilo Gold Bars come from these esteemed producers .
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Mcx Data Reveals That Gold Futures Rose 083 Per Cent To Rs 5634100 Silver Futures Also Grew 113 Per Cent To Rs 6942000
Ten grams of 24-carat gold is being sold at Rs 56,730 today, 14 January in India after witnessing a rise of Rs 440 from yesterdays price. One kilogram of silver is being purchased at Rs 72,750, following a hike of Rs 750. The price of the yellow metal changes daily owing to factors such as making charges, excise duty, and state taxes. According to the Good Returns website, 10 grams of 22-carat gold in Mumbai and Kolkata is being obtained at Rs 52,000. The same quantity of the valuable metal is being acquired at Rs 52,150 in New Delhi. In Chennai, 10 grams of 22-carat gold is rated at Rs 52,500.
Looking at the 24-carat gold rates, 10 grams in Kolkata and Mumbai cost Rs 56,730. The same quantity of 24-carat purity is valued at Rs 57,250 in Chennai and Rs 56,980 in the national capital.
In Ahmedabad and Jaipur, 10 grams of 22-carat gold is being sold at Rs 52,050 and Rs 52,150, respectively. The same amount of 24-carat purity is being purchased at Rs 56,780 in Ahmedabad and Rs 56,980 in Jaipur.
In Nagpur, Kerala, and Hyderabad, 10 grams of 22-carat gold is valued at Rs 52,000. The same quantity of 24-carat purity is being retailed at Rs 56,730 in the three places.
In Vadodara, Bengaluru, and Patna, 10 grams of 22-carat gold is priced at Rs 52,050. The same amount of 24-carat purity is being acquired at Rs 56,780 in all the above cities.
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How Much Do 1 Kilo Gold Bars Cost
Well, how much does gold cost? Gold bars are plain gold, pure and simple. The market value of a gold bar is almost entirely based on its weight in gold. A bars price closely follows the spot price of gold, i.e., the price at which you could buy one ounce of gold right now as opposed to some date in the future.
Because of this, gold bars are one of the easiest forms of the precious metal to understand. For the most part, there are no intricate designs or special finishes that must be preserved to near-perfection for a bar to maintain its price, and a bar typically doesnt have historical significance thats limited to one culture or country. Given this simplicity, gold bars can be easy to buy and sell, as theyre accessible and appealing to a variety of buyerscommercial, private, domestic, or international.
Also impacting the cost of gold bars for sale is the supply of gold, as well as local, national, and global economic conditions. Call a U.S. Money Reserve Account Executive for more information on gold bar prices.
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Why Do Investors Care About The Gold Price
As with any other type of investment, those looking to buy gold want to get the best deal possible, which means buying gold at the lowest price possible. By watching gold prices, investors can look for trends in the gold market and also look for areas of support to buy at or areas of resistance to sell at. Because gold pretty much trades around the clock, the gold price is always updating and can even be viewed in real time.
Should Investors Buy Gold Kilo Bars
1 kilogram gold bars typically command premiums of between 1.4% and 2% with GoldCore who offer some of the most competitive premiums in the gold market in the U.S. for both delivery and storage. They are not suitable for delivery in most cases unless an investor has a secure storage area and insurance. Kilo bars are best suited to secure professional storage with a professional vault. GoldCore offers such services and very competitive rates.
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What Is Gold Price Per Kilo
Where a gram is a nice smaller weight to purchase gold bullion, the kilogram is larger, just as desirable and somewhat unique. One kilogram is equal to 1000 grams which is approximately 32.15 troy ounces. If you are looking to buy a larger size and amount of gold, buying a gold bar or coin in kilos is a good option. The kilogram is known worldwide as a popular way to purchase a good amount of gold at once.
What Size Gold Bar Or Coin Should I Choose
Choosing a bullion size is totally personal and you should consider what size works best for your needs. Do you have the capacity to store several dozen 1 ounce gold coins? Do you prefer the look of gold coins over gold bars? Or does it make more sense to own a single 100 ounce gold bar? With so many weights of measurement to choose from, owning a variety or just a simple selection become options for the average consumer.
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Gold As An Investment
Gold is available for investment in the form of bullion and paper certificates. Physical gold bullion is produced by many private and government mints both in the USA and worldwide. This option is most commonly found in bar, coin, and round form, with a vast amount of sizes available for each.
Gold bars can range anywhere in size from one gram up to 400 ounces, while most coins are found in one ounce and fractional sizes. Like other precious metals, physical gold is regarded by some as a good way to protect themselves against the ongoing devaluation of fiat currencies and from volatile stock markets.
Buying gold certificates is another way to invest in the metal. A gold certificate is basically a piece of paper stating that you own a specified amount of gold stored at an off-site location. This is different from owning bullion unencumbered and outright because you are never actually taking physical ownership of the gold. While some investors enjoy the ease of buying paper gold, some prefer to see and hold their precious metals first-hand.
Kilo Gold Bar Description:
Each bar contains 1 kilo of pure 24 karat gold. Kilo bars are an exceptionally convenient way of storing gold bullion. A 1 kilo bar is roughly the same size as an iPhone. If you’re serious about owning raw gold, there’s no better way to do it. Your order will be fulfilled with hallmark based on availability.
The 1 kilo gold bar is an atypical size of gold bar. A common question is how many ounces or grams is included in a single kilo. The answer is a 1 kilo gold bar has 32.15 ounces of gold or 1000 grams. The advantage of the 1 kilo gold bar is that you get a larger quantity of gold for a lower premium above spot price. Gold has a positive correlation with cost of living. This makes gold a hedge against inflation.
Since the beginning of civilization, gold has been a symbol power and used as a storage of wealth. While paper currencies continue to come and go, gold has withstood the test of time. It has survived the fall of the Egyptian, Roman, Greek, Spanish and English empires. Even today most nations have a gold coin in circulation. The face value of these coins is symbolic and not reflective of the value of the gold in the coin.
Here are some more interesting facts about gold:
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