What is the spot price for gold?

The spot price for gold is the current price being sold on the day and time of the transaction, although individuals can’t buy gold at a spot price. However, you can try to buy near its spot price. Gold prices are determined per ounce and on quality as well. Some get spot prices confused with futures prices.

What factors affect the spot price of gold?

Many factors can affect the spot price of gold, such as the value of a currency, speculations of the market, gold futures fluctuating, current global events, and the demand for gold. Spot prices update each minute across the world and will update in accordance with the given time zone.

What is the spot price?

What Is the "spot price?" The spot price is typically the base price of one troy ounce of a metal in any form. Any transaction you make in the gold market will be based upon the spot price. Any quote of the spot price of gold in grams or kilos is typically just a conversion of the value in ounces, and not a separate trading market.

How do you predict gold and silver prices?

Predicting gold and silver prices thus depends on a number of factors, but primarily they involve one’s outlook for the future. The research we’ve done at GoldSilver shows that financial risks are high right now, and if any of them lead to a crisis, investors will seek the refuge of gold and silver and drive their prices higher.