What is the Gold Spot Price and How is It Set?

What is the Gold Spot Price and How is It Set?

Trading gold or other precious metals the very first question you may ask is, how much does gold cost? The answer lies in the gold spot price. This is the price gold is trading for at any given time on the markets where it is available.

Here we will take a closer look at exactly what the spot price for gold is, what you actually get for the spot price of gold and the major factors that move the price on the markets. What Does the Spot Price of Gold Mean?

The spot price you see first of all is based on one troy ounce of gold. This is the standard measure in which gold is traded on the international markets. You will also notice that the price of gold (and other precious metals) is quoted in US Dollars. Again this is the currency in which gold is priced […]

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