Gold Spot Price

As the term implies, gold spot price is the amount that you need to pay to get a particular quantity of the precious metal. Buying or selling gold requires you to be updated on the going rates, especially in a tough economy where prices of precious metals are also quite volatile.

Technically speaking, gold spot price refers to the “twice a day setting” of gold’s value against the British Pound (GBP). The rate is converted to US currency (USD). The Euro currency is used as the benchmark gold pricing, as well as pricing of its worldwide products and derivatives. Gold spot price is set in terms of GBP, per ounce, by the London Gold Market Fixing Limited. It is set two times a day in a secure teleconference – once at 10:30 am (London time) and 3:00 pm (also London time) every trading day. You can buy physical gold at the spot price from sellers who will deliver bullions to you and sell gold in their vaults. If you want to save money, you need to ensure that you don’t paying a penny more than what the spot price is. There are several tricks you can use. 1. Make comparisons. You should do your research and compare gold prices that several companies offer against the current gold price. Buy over the phone or online. Make sure you know what the delivery terms are if you are actually purchasing physical gold, and always ask for a written transaction record if you are buying shares of gold in the seller’s vault. 2. Avoid gold coin sellers if you want to stick to the spot price. You see, the purity of gold coins are typically not verified, so you may end up paying far more for the coin than its actual gold content. 3. Lastly, make sure that you can very quickly execute an “order to sell” your share of gold from a vault. Any delays can cause you to lose a substantial amount of money, especially if there are price movements.

Gold Spot Price

Gold Price Per Ounce (AUD)	Gold Price Per Ounce (CAD)
Gold Price Per Ounce (EUR)	Gold Price Per Ounce (JPY)
Gold Price Per Ounce (GBP)	Gold Price Per Ounce (ZAR)
Gold Price Per Ounce (CHF)	Gold Price Per Ounce (USD)
Gold Price Per Ounce (CNY)