Current gold price with chart
The gold price is determined by the various bid and offer prices of dealers all over the world. The bid price is the price which is offered by the person buying gold. On the other hand, there is the offer price which is asked by the seller. The difference between these prices is called the middle rate. The middle rates of the worldwide stock trading influence the gold price to a great extent.
The above chart shows the precious metal rate up to five years ago. You can make a desired selection based on price per kilo or price per troy ounce. You can also make a selection from gold, silver, platinum or the gold/silver ratio. In addition, you can select any period, varying from one week to five years ago.
Gold price chart
Worldwide influences on the gold price
Current gold price. The gold price fluctuates five days a week. Gold fixing takes place on the stock market twice a day. This fixing process is used for pre-agreed sales, also known as ‘futures’. Huge quantities of gold are traded on a daily basis. The total value is estimated at 139 million troy ounces (measured in 2013). The majority of gold is sold daily in London, at the London Bullion Market Association (LBMA) and the Comex in New York.
Various pricing systems
There are two pricing systems used for trading gold. Gold can be sold at the future and the spot price. In case of agreements based on the future price, transactions can be concluded at a future moment. The price is pre-determined. In case of agreements based on the spot price, transactions between the seller and the buyer are concluded immediately. The selling price is based on the current gold price at that moment.
History of the gold price
The gold price has increased in value over the past ten years. This is mainly due to the estimated quantity of gold worldwide. Eventually, all of the gold deposits around the world will be emptied. It is estimated that 170,000 to 180,000 tonnes of gold have been mined. However, it is hard to estimate exactly, because there are no details available regarding gold in antiquity. Gold which has been mined thousands of years ago is still being used, which is exceptional and proves the endless durability of gold.
Gold prices at The Silver Mountain
At the Silver Mountain, you can see how the selling price of each product has changed weekly, monthly or annually. You can select any period and view the fluctuations in price depending on various circumstances. Not only does the global supply and demand of gold play a large role in determining the current gold price. But also political influences, the dollar rate, inflation and the world economy. All product prices in The Silver Mountain webshop are automatically adjusted in accordance with the current gold rate.
Do you want to find out more about buying gold or silver? The Silver Mountain offers various tools that might be of help. The knowledge centre indicates the purchase and selling price for various products from the webshop, including the spread (the difference between the purchase and selling price). Generally, products with a low spread are most interesting to buy, because they are most popular.
Our knowledge centre is full of interesting articles and information about buying gold and silver. You will find information about investing in precious metal and the history of precious metal. Do you have any other questions? We are here to help you! You can reach us by telephone at: +31 (0)35 20 31 380 and by email at firstname.lastname@example.org. Do you prefer speaking to us in person? You can always request a free consultation.
Disclaimer: This article is not meant as a professional investment advice or a recommendation to do certain investments.