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Metals Radar offers a live feed of gold prices, updated every few minutes, so you can stay on top of the market and make well-informed buying or selling choices. Our default chart displays the current gold spot price per ounce in US dollars, but you can switch to your local currency for a customised view.

Gold is a reliable global investment, regardless of location. It’s a time-tested way to safeguard wealth, diversify your investment portfolio, and protect against inflation. However, like any asset, gold’s value can fluctuate, and monitoring these changes closely helps you pinpoint the best moments to move in the market.

Check back regularly for real-time updates on gold prices and use this information to assess your investments. You can also look into past trends by changing the chart view to show data from the past quarter, month, year, five years, or even two decades.

Understanding Gold’s Spot Price

The spot price indicates the current trading value of gold per troy ounce (31.1 grams) in US dollars. It represents the price for 99.99% pure, 24-carat gold. If you’re estimating the value of jewellery, its price might be lower due to the variation in gold content.

What is a Troy Ounce?

A troy ounce, used to measure gold and other precious metals, is heavier than a standard ounce. It equals 31.1035 grams, while a regular ounce is 28.3495 grams. For reference, there are approximately 32.15 troy ounces in a kilogram.

When purchasing gold bullion coins and bars for investment purposes, their weight is listed in troy ounces. Options range from smaller 1/10 oz coins to larger 100 oz bars.

How Gold Prices Are Determined

Various global entities, including banks, oversight committees, and market participants, influence the price of gold. Pricing is tied to gold futures and established as both a ‘spot price’ and a ‘fixed price.’ Comex (CME) in the US and the London Bullion Market Association (LBMA) in the UK are responsible for setting these prices.

The LBMA updates gold prices twice a day, and this price can differ slightly from the spot price. It’s mainly used for bulk transactions, providing stability against the constant shifts in the spot price. The LBMA also maintains the industry’s gold quality standards, known as ‘good delivery.’

Factors Influencing Gold Prices

Several elements impact the price of gold, including supply and demand dynamics, interest rates, and the strength of the US dollar. Here’s how these factors play a role:

  • Supply and Demand: Gold’s availability is limited, and the balance between supply and demand significantly affects its price. When demand exceeds supply, the price increases. With much of the easily accessible gold already extracted, mining costs are rising, potentially slowing supply. Some experts suggest that 2050 mining may no longer be feasible, which could lead to a surge in prices.
  • Jewellery Market: Nearly half of the world’s gold is used in jewellery. Although this demand doesn’t immediately impact price movements, as people tend to hold onto jewellery for long periods, it contributes to gold’s overall value.
  • Gold ETFs: Gold-backed exchange-traded funds (ETFs) that invest in physical gold or mining shares can influence prices when demand for these securities increases.
  • Industrial Applications: While a small portion of gold is used for industrial purposes, a spike in demand here could push prices higher.
  • Interest Rates: Gold’s value typically moves opposite to interest rates. Historically, when rates drop, gold prices tend to rise. A lower interest rate environment often signals economic weakness, driving investors towards gold for stability.
  • US Dollar Strength: Priced in US dollars, gold’s value often increases when the dollar weakens. Conversely, when the dollar strengthens, gold prices tend to fall. This dynamic makes gold a helpful hedge against inflation and currency devaluation, preserving purchasing power when currencies lose value.

Is Now the Right Time to Invest in Gold?

Investing in gold is generally considered a solid option, as it helps diversify portfolios and lowers risk. Gold’s value typically increases when other asset classes like stocks, bonds, or property decline, making it a good choice during market downturns.

Active traders often closely examine gold’s price patterns to decide when to buy or sell. If this is your approach, visit our charts regularly to track movements, analyse the factors influencing gold prices, and make informed decisions based on these insights.

Metals Radar’s platform can help you find the best prices on investment-grade gold bullion, whether you’re after coins or bars. Our comparison tool lets you access the most competitive rates from trusted dealers.

Future Gold Price Predictions

Gold prices are known for their volatility, making predictions challenging. However, investors often forecast future trends based on current and past market performance.

Metals Radar’s charts provide a comprehensive look at gold’s price history, offering insights into how it responded to past political and economic events. By analysing this data, you can formulate your outlook based on the present economic climate.

What’s the All-Time High for Gold?

In August 2020, amid the COVID-19 pandemic, gold reached an all-time high of over USD 2,000 per ounce. Prices climbed again in February 2022 during the Russian invasion of Ukraine.

Investing in Gold Bullion: Bars vs. Coins

Bullion bars and coins are the most popular options when investing in gold. Unsure which is right for you? Let’s break down the differences:

  • Gold Bars: Typically 99.5% pure or higher, gold bars are produced by government and private mints. They are closer in price to the gold spot price and come with lower premiums, making them ideal for bulk investments. Available in sizes ranging from 1 oz to 100 oz, they offer a cost-effective way to purchase gold but may lack flexibility as they must be melted down to sell in portions. Leading brands include PAMP Suisse, Valcambi, Argor-Heraeus, and Perth Mint.
  • Gold Coins: These coins are usually 95.0% pure or higher and mostly minted by government mints. Although they carry higher premiums, they may have added value due to collectibility and historical significance. Gold coins are suitable for smaller purchases and are available in denominations from 1/10 oz to 2 oz. Well-known coins include the South African Krugerrand, American Eagle, Austrian Philharmonic, and Canadian Maple Leaf.

Finding Competitive Gold Prices Online

If you’re ready to invest, you’ll find that prices vary across dealers and websites. Compare gold prices to maximise your returns and make the most of your purchase.

Metals Radar’s comparison tool simplifies the process by searching for the best gold and silver bullion prices. We work with reputable precious metals dealers, ensuring a secure buying experience. Use our platform to start your investment journey today.