Is It Better To Buy Gold Online
Buying gold online has several advantages. It provides convenience because you can shop from home or your mobile device. In most cases, you can place orders at any hour. You can also view a gold sellerâs entire inventory with ease.
Online gold bullion dealers generally can offer their customers lower prices, as well. This is due to the lower overhead costs of running their business on the internet. Shopping for gold today is becoming much more convenient than ever before.
What Are Bid And Ask Prices
The ask price is the lowest price at which a dealer is willing to sell a troy ounce of gold. The bid price is the lowest price that a dealer is offering to pay for a troy ounce of gold.
This why the current price is important to know if you are buying gold bullion or you want to sell gold to a dealer.
The difference between bid and ask prices is called the dealer spread.
Requirements For All Purchases
As per municipal and provincial law, we can only purchase from clients who are at least 18 years of age. All purchases require us to take down the details of one piece of Government Issued Photo ID, which must be valid and not expired. Please note, we are unable to use Provincial Health Cards. For visitors to Canada who do not have Canadian ID, we will require their passport information. For a list of acceptable Photo ID, please see the following.
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How Do I Compare The Current Price For Gold
Gold is sold in many different forms, and when comparing or tracking the live gold price, you must ensure that youre comparing apples to apples. For instance, you might find gold offered in both ounces and in grams.
Obviously, the price for each would be different because the weights are not the same. The volume of gold in each option differs. So, comparing the gold price for a troy ounce to the gold price per gram would not do you much good.
Instead, make sure youre tracking and comparing troy ounces to troy ounces . You also need to remember that even with freshly minted sovereign gold coins like the Australian Kangaroo Gold coin, the price will be higher than the spot price of gold. Again, this is due to the seigniorage and slight premium of the coin on top of the cost of the gold contained within it.
How Do Us Interest Rates Impact Future Gold Prices
The level of US interest rates is an important driver of future gold prices. When investing in gold, the investor is faced with the opportunity cost of gold – a non-interest bearing asset. The higher the US interest rate for holding US dollars or investing in Treasuries, the higher the opportunity cost of holding gold. It is more likely, therefore, that a rally in the price of gold will be forecasted the lower the US benchmark interest rate.
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Why Should I Invest In Gold
With a rich history amongst almost all global cultures, gold remains a highly popular investment. Although it has multiple uses, its primary function is typically to hedge against inflation in an often volatile futures market, as well as to diversify existing Precious Metals Investment Retirement Accounts.
Gold has been one of the most valuable precious metals throughout human history, used by elites as a symbol of wealth for centuries due to its rarity and its ability to hold its worth for a long time. Historically, it has been the most common way to pass on ones wealth as an inheritance from one generation to the next.
Gold is considered a worthy investment, with coins and bars available for purchase in various sizes, ranging from one gram to a whopping 400 ounces. At Bullion Exchanges, we carry a wide selection of gold products to suit the likes of both savvy investors and passionate collectors.
Being the most reliable investment commodity available, gold has proven to be a perfect way to diversify your investment portfolio and an excellent safeguard against volatile currency.
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.
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How Are Spot Prices For Gold Calculated
The total supply and demand for gold in the market ultimately determine the spot price.
Thus, movement of the spot price reflects a change in the available supply or current demand for gold. This includes factors such as:
- output from gold mines
- economic uncertainty
- other geopolitical events
Trading of gold futures has the most significant effect on today’s spot prices. The same is true for all commodities. So the silver price and platinum price behave in a similar manner.
General gold news can also influence investment demand for the precious metals. This includes gold, silver, platinum, and palladium.
For instance, prices today tend to shift dramatically if the Fed cuts rates. There may be a gold price rally if the International Monetary Fund adds to its gold reserves.
Learn more about gold futures contracts by following this link.
What Is The Gold Silver Ratio
The gold-silver ratio is the ratio between the price of a troy ounce of gold and a troy ounce of silver. You might think of it as the number of ounces of silver it takes to buy one ounce of gold.
The ratio stayed between 15:1 and 16:1 for much of American history. However, in 1971 the âNixon Shockâ closed the gold window forever, and the ratio of the gold and silver price today is more than 70:1.
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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.
How Does The Gold Bar Price Vary From The Ounce Of Gold Price
Gold is available in many different forms, including modern gold coins, gold bars and older collectible gold coins.
The gold bar price will vary depending on the amount of gold in the bar. If the bar contains one ounce of gold, the price will typically be slightly less per ounce than the gold price for government guaranteed and minted gold bullion coins or other similar gold bullion collectible items. However, if the gold bar contains more or less gold, the price will vary mostly depending on overall weight. For instance, a one gram gold bar will not cost the same as an ounce gold bullion bar or a one kilo gold bar.
Make sure to know the exact amount of gold bullion contained in any gold bar or gold coin before purchasing or selling to ensure that you are indeed getting a fair price.
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Gold Futures Contract Length
With futures, a trader agrees to buy a commodity at a given price on a given date. At COMEX, traders can choose from a variety of different contract lengths, ranging from one to several months long. If the price of gold goes up significantly, then the trader is able to buy it at a lower price than they otherwise would be able to. When the contract expires, traders can either execute physical delivery and take possession of the gold, or they can sell the contract and profit from the difference in price.
How Is The Gold Per Ounce Price Determined
Gold is a leading globally bartered asset that is traded on numerous futures markets. The most renowned and recognized exchanges include the New York Mercantile Exchange, the Chicago Mercantile Exchange, the Hong Kong Mercantile Exchange, Zurich, and London. COMEX is the essential business sector for exchanging metals, such as gold, silver, copper, and platinum. Once known as the Commodity Exchange Inc., COMEX converged with the New York Mercantile Exchange in the early 1900s and was designated as the primary division responsible for the precious metal exchange, including but not limited to the designation of the spot price of gold.
When determining the spot price of gold, it is important to note that the calculation is based on the front-month futures contract which is traded on the COMEX. The term front-month is utilized in futures trading in reference to the contract month with an expiration date nearest to the present date, which is usually around the same time.
Approximately 31.1035 grams of 24 karat pure gold makes up a troy ounce, while a kilogram consists of 32.15 troy ounces. The gold spot price per ounce is influenced by various factors, including these major ones:
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Taxes On Gold Etfs & Gold Futures Contracts
Gold ETFs and futures contracts are taxed using both long and short-term capital gains models. For long-term holdings, this tax rate is 15%, and losses can be deducted on your yearly tax return. Short-term rates are more taxable youll need to shell out 35% of your gains to the federal government.
But what about physical gold? Is physical gold taxed? Certainly. Physical gold is also subject to a capital gains tax, especially if you hold onto the gold bullion for more than a year. Tax rates will vary based on several factors, including the precise nature of your investment, your income, and more. If youve bought a sizable amount of gold, we recommend seeing a tax specialist to determine what you might owe. Taxes on capital gains are generally only due when the sake of the asset occurs.
The Risk Of Gold Etfs
Gold ETFs also prevent investors from taking on too much risk. An ETF stock functions much like a regular investment if the price of gold increases, your stock becomes more valuable. If the price of gold decreases, gold ETF holders simply lose the monetary difference between the initial buying price and the current value of the stock. Given the historical price trends associated with gold, its also highly unlikely that any gold ETF truly goes belly-up and results in tremendous losses for gold ETF investors.
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How Much Gold Does The Spot Gold Price Refer To
You may be wondering how much gold does the spot gold price refer to? The spot price of gold in the United States refers to the value of one troy ounce of pure gold. It only takes a little bit of math to convert the spot price of gold per ounce into a price per gram, kilo, or other weights. Its also important to note that the price of gold is the same everywhere the spot-price quoted on this page is the same price youd pay for an ounce of gold anywhere in the world. Always check the spot gold price before buying any product buying gold at a lower spot price of gold can potentially save you quite a bit of money. If youre wondering what currency the spot gold price is quoted in, the most common answer is USD. But some exchanges list the spot price of gold in different currencies from around the world.
Comex Spot Gold Price
COMEX is the largest trader of gold bullion futures in the world. A part of the larger CME, or Chicago Mercantile Exchange, COMEX allows investors to speculate on the future price of precious metals without taking physical possession of the meals. For those who are familiar with futures trading on the stock market, this concept should be relatively straightforward.
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Live Gold Spot Price Chart
The precious metals market is always fluctuating. Every second, the price of gold either rises or falls in response to the market. This is referred to as the spot prices and relates to how much one raw ounce of a particular metal sells for on the market at a certain moment in time. For your convenience, we have provided charts and tools to help you keep up to date with the spot price of some of our most popular precious metal offerings in real-time. From a microscopic one-hour view to data gathered over the course of a year, our goal is to give you the tools you need to make the most informed investment decisions possible.
Simply navigate to the list below and click on the metal of your choice to access its chart. Then, click on a time period in the charts upper section to see its data. You can also scroll over the chart itself to see price points at specific moments.
What Is The Difference Between An Ounce And A Troy Ounce When Looking At A Price Of Gold Chart
A standard ounce is equivalent to about 28.349 grams and is used as a measure for almost all common commodities. Gold, however, is always measured by the troy ounce, which weighs about 31.103 grams. This standard of measurement was adopted by the United States for standard coinage in 1828, but it was created in France during medieval times.
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What Is The London Fix Price
Gold trades around the world and around the clock. Some of the larger exchanges include New York, London, and Shanghai. Gold trades from 6AM to 5:15PM Eastern Time, Sunday through Friday . The spot price constantly fluctuates during trading days, depending on what buyers and sellers are doing.
The London market provides a fix price twice per day for gold at 10:30 a.m. and 3:00 p.m. and once per day for silver . It is designed to establish a price for settling contracts between members of the London bullion market, but it informally provides a recognized rate that is used as a benchmark for pricing the majority of gold products and derivatives throughout the world’s markets.
The London fix on any given day is determined through a conference call among 12 of the worlds largest private banks. It is then used by institutions, producers, and other large market participants to price contracts.
Retail customers like you and I cannot buy and sell based on the fix price, only the spot price .
What Are The Most Popular Gold Coins
Every major mint produces their own gold bullion coins and are extremely popular for investors who want to hold physical metal. While only government mints can produce gold coins with a monetary face value however, the face value is well below a coins intrinsic value. Along with government mints there are a variety of private mints that produce similar products referred to as gold rounds.
Of all government mints only the South Africans Krugerrand gold coin does not have a face value and its value is completely based on the global gold price.
Here are the top five gold coins currently available.
- South African Krugerrand
- British Britannia Coin
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What Is The Spot Gold Price Today
The current spot gold price today is $1845. Like we explained above, the spot price of gold is malleable and changing constantly. Factors like market speculation, world events, and other things are always changing the price of gold. The spot gold price is a global quote it should not change from country to country. An ounce of gold is worth the current spot price of the precious metal, regardless of where you plan on buying your gold.
When Is The Gold Price The Strongest
It can be difficult to predict the next major rally in gold as it is strongly driven by sentiment. Gold does well in period of high uncertainty, a shifting inflationary environment and during periods of currency debasement however, historically, there have been high and low seasonal period in the gold market. Historically, September is golds strongest month. Many western jeweler start to build their gold inventories during this time to prepare for the holiday season. The next strongest month is January, which traditionally sees strong buying among Eastern nations ahead of the Lunar New Year. The worst month has historically been March, April and then June.
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