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Gold price

The gold price is determined by the various bid and ask prices of traders worldwide. The bid price is the price offered by the buyer of gold. Against this is the offer price, the price asked by the seller. The difference between the two prices constitutes the middle price. The middle prices of all global trading together exert great influence on the gold price.
 
The gold price is in motion 5 days a week and is set at the world's largest gold markets in London and New York. In addition, the gold price can be followed 24 hours a day on the goldprice.org website.

In the chart above you can see the price of gold. Here you can make a desired selection based on the price per kilo or price per troy ounce. It is also possible to make a selection from gold, silver, platinum or the gold/silver ratio and you can select a desired time period.
 
Gold and silver is often referred to in troy ounces. This is a globally used unit for precious metals. 1 troy ounce equals 31.103 grams and 1 kilo of precious metal equals 32.15 troy ounces. Want to convert your weight in grams to troy ounces or vice versa? Then the following formulas are handy to use:
 

  • Weight in grams: Weight troy ounce / 0.032151
  • Weight in Troy ounce: Weight in grams x 0.032151

The current gold price on the stock market

The current gold price is determined by several factors. First, bid prices and ask prices in the precious metals market exert major influences on the gold price. The sellers and buyers on various precious metal exchanges worldwide determine the price in effect at the time. This has to do with the middle price, the difference between the offer price and the bid price. The offer price is determined by the seller and the bid price by the buyer. Because the value of gold is always fairly stable, there are no big differences noticeable in the gold price.
 
But how is the price ultimately determined? Twice a day a fixing is set on the precious metals exchange. This determines the price for sales that have been agreed upon in advance. These prearranged transactions are also called "futures. The current gold price is in motion on 5 fixed days a week. The estimated daily quantity of gold traded is 139 million troy ounces. Converted to euros, that works out to 156 billion euros.
 
Globally, most transactions in gold and silver take place at the COMEX in New York and in London at the London Bullion Market Association (LBMA).
 

Gold price today

At the top of our site in the upper left corner is the current gold price per kilo. This gold price - like our prices - is updated every three minutes based on the most current gold price.
 

Gold price per gram

Converted to the price per gram, there may be differences in the current gold price for a 10-gram bar and a 250-gram bar. This difference mainly has to do with additional additional production costs. For example, the cost of producing a 250-gram bar is comparable to the cost of a 10-gram bar. In addition, traders also use a profit margin on top of the current gold price for a coin or bar. For profit margins, the weight also determines the margin. With a low weight, higher margins play a role than with a high weight.
 

Gold price per troy ounce

When we talk about the weights of precious metals, they are often expressed in troy ounces. As such, a troy ounce is the official unit of mass used when weighing precious metals. One troy ounce equals 31.1034768 grams.
 

Historical gold price

The gold price is perhaps the most discussed and analyzed price in the world. Gold has been a valuable precious metal since ancient times and its price has always depended on a large number of factors. It can be very interesting to look at the history of the gold price. Of course, past results do not guarantee the future, but it does give an idea of the developments the gold price has undergone.

Gold price last 10 years

Over the past 10 years, the gold price has experienced a sharp increase. On January 1, 2013, the gold price stood at €40,317 per kilogram. This is a lot lower than the gold price today. The main factors were economic uncertainties, low interest rates and rising inflation.
 
It is uncertain whether the gold price will continue to rise in the future. The market for gold is very volatile and the price can fluctuate widely in the short term. However, the trend over the past decade has been upward. The chart below shows the gold price over the past 10 years.
Goldprice last 10 years
source: goldprice.org
 

Gold price last 20 years

The gold price on December 31, 2003 was €10,504 per kilogram of gold. This is quite a bit lower than the current gold price.
 
The development of the gold price over the past 20 years can be divided into four phases. From 2003 to 2008, the gold price was fairly stable. That changed during the 2008 global economic crisis. From 2008 to 2011, the price of gold doubled. Investors chose gold as a safe haven in times of financial uncertainty. Then the gold price calmed down a bit between 2011 and 2020, however, the rise in the price of gold continued. In recent years from 2020 to the present, the price of gold has risen again significantly, due in part to the economic and political uncertainty the world has faced in recent years.
 
Check out the trends in gold prices over the past 20 years in the chart below.
Goldprice in the last 20 years
source: goldprice.org
 

Gold price last 50 years

Gold has also risen significantly in price over the past 50 years. Whereas 50 years ago the gold price hovered around $3,500, at the time of writing it is around $63,000. This is a very large increase in just 50 years. The chart below shows the development of the gold price over the past 50 years in dollars.
 
The rise in the gold price over the years has several causes, but in almost all cases an economic and/or political development is the likely underlying reason. For example, a rapid rise can be seen around 1980 during that year's global economic recession and this is repeated around 2008 during another global recession.
Goldprice in the last 50 years
source: goldprice.org

Gold spot price and futures price

Trading gold has two different pricing systems. Gold can be sold at the future price and at the spot price. With the future price, an agreement is made and a transaction can be made at a future time. In this case, the price is predetermined. With contracts concluded at the spot price, a transaction takes place directly between the buyer and seller. As the selling price, the current gold price of that moment is taken.

Evolution of the gold price

Over the past 10 years, the price of gold has increased. This is mainly due to the estimated amount of gold worldwide. Eventually, all the gold present in the ground worldwide will have been mined. It is estimated that there are currently 170,000 to 180,000 tons of gold unearthed. However, it is difficult to make a concrete estimate of this because there is no data available from gold mined from ancient times. Gold mined thousands of years ago is still in use today. This is very special and proves the endless lifespan of gold.

The Silver Mountain

At The Silver Mountain you can see for each product how the selling price has changed weekly, monthly or yearly. You can select a desired time period. Price fluctuations depend on several factors. Not only does the global supply and demand for gold play a major role. Political influences, the dollar exchange rate, inflation and the global economy also play a role in determining the current gold price. The gold price and silver price of products in The Silver Mountain webshop are automatically adjusted to the current rate.

Do you want to learn more about buying gold? The Silver Mountain has several tools ready for you that can help. The dial indicates the buying and selling prices of various products from the web shop, along with the spread (the difference between the buying and selling price). In general, products with a low spread are the most interesting to buy, because these products are the most current.
 
Our knowledge center is full of interesting articles and information about buying gold and silver. Among other things, you will find information about investing in precious metals, the history of precious metals and investing in precious metals. Do you have any other questions? We are happy to assist you! You can reach us by phone at 035 20 31 380 and by email at info@thesilvermountain.nl. Do you prefer to speak to us in person? You can request a non-binding consultation at any time.

Frequently asked questions about the price of gold

How fast is the value of gold rising?

The value of gold does not always rise rapidly. The price of gold depends on a number of factors, including supply and demand, economic conditions and geopolitics. In general, it can be said that gold prices rise when there is high demand for gold but little supply. This may be the case when the economy is in recession, when there is political unrest or when there is inflation.

What influences the price of gold?

The international gold price is influenced, among other things, by supply and demand for gold, (global) economic conditions, geopolitical situation and interest rates. In addition, the gold price can also fluctuate based on investor speculation.

Is buying gold a good investment?

Gold is often seen as a safe haven in uncertain economic times. This is because gold has maintained its value over time, even in times of inflation and recession. Thus, gold can be a good investment if you are looking for a way to protect your assets from economic uncertainty.

 

However, gold is not a risk-free investment. The price of gold can fluctuate, which can cause you to lose money. This is especially true in the short term. Read more about investing in gold here.

What is a good time to buy gold?

It is difficult to say when is a good time to buy gold. The price of gold depends on a number of factors, including supply and demand, economic conditions and the geopolitical situation. In addition, your personal situation also plays a role. It is a good idea to determine your investment goals and risk tolerance in advance.

 

There is no simple answer to the question of when is a good time to buy gold. This is a personal decision that depends on a variety of factors.

Disclaimer: This article is not intended to be professional investment advice or a recommendation to make certain investments.