Gold Price is what first comes to mind when we think of investing in gold. Here you can find the most comprehensive list of trackers giving live gold prices from the top gold dealers, social media sources etc. Our aim is to make sure you find the latest live gold price. All prices are in $US and per ounce unless stated otherwise.
1. Gold Price from Monex
Live Gold Price including prices of Silver, Palladium and Platinum
Gold, Silver, Platinum and Palladium price per ounce variation of the last around 50 days.
2. Gold Price from Kitco
3. Gold Price from Metal Prices
4. Live Gold Price tweets from Twitter
The Gold Price listed here are mostly in $US. If you want to check the price in other currencies you can make use of the currency calculator. The exchange rates are updated every 24hrs. This way you don’t have to worry about the local currency gold price.
Gold Price Terms
While studying the gold prices(gold price per ounce) provided by the different gold dealers, you will frequently come across gold price terms which you should be aware of. Below are some important gold price terms.
1 ounce = 28.349 grams
2. Troy ounce
1 troy ounce = 31.103 grams
1000 grams = 1 kg
4. Gold Karat or Carat(K or kt)
Karat or Carat is a measure of the percentage of gold in the gold alloy. Gold in its pure form is brittle and hence to add strength it is usually mixed with other metals to form a gold alloy. Karat says how pure the gold is and the following values are frequently used in the gold market.
Bookmark this page as we will keep adding the gold price resources continuously. Contact us if you want your gold price resource to get listed here.
Factors Impacting the Price of Gold
Before considering gold investment, it is essential to know the various factors determining the gold price. Let us consider them one by one.
* Due to inflation, the value of money tend to be diminishing across the world. So in order to counter the loss of money value, people tend to convert their cash into gold which has always shown increase in its value. when more people buy gold as their asset, its demand and price will naturally go up.
* The basic factor responsible for determining the Gold price is the level of its demand and supply. While there is a positive relationship between demand for Gold and its price the relationship with the supply is negative.
* When Gold is imported from other countries, then the import duty can increase the gold price in the domestic market. This is a major factor for countries which heavily import gold.
* As the population is getting increased, it will directly increase the demand for gold and thereby the price of Gold especially in countries facing population explosion.
* The price of gold can be affected by the exchange rate between currencies of two countries who are engaged in gold trade.
* People, especially women across the world seem to wear gold ornaments for festivals, parties, marriage occasions etc. This has a positive impact on the demand and price of gold.
* There are people who want to buy gold ornaments when there is new model available in the market. This is more from a catching up with the latest trend perspective.
* As gold is a precious metal and cannot be artificially made, its price level cannot go more volatile unless there is any huge increase in its supply that cannot happen all of a sudden. However, when a new mine of huge gold reserve is discovered, it can potentially increase the supply of gold and affect the price level.
All the above factors contribute in one way or the other impacting the gold price.