gold price per ounce
Gold Price Per Ounce
As one of the most popular investments, it's no wonder that investors keep coming back again and again to gold. This precious metal has signified wealth and power for centuries.
Because the value of gold has been maintained for so long, you can be sure that it's a worthwhile investment.
Just like any other investment, the gold price per ounce fluctuates from day to day. Part of the fun is getting up each morning to find out how your investment has changed.
Along with the excitement can come trepidation. Though this is the preferred investment of many wise investors, people still have questions.
Learn more about gold price per ounce by reading the following FAQs. If you still want to know more, click through our articles below that talk about the current gold price per ounce in more depth.
What is the Gold Spot Price?
If you're starting to invest in gold, a term you'll quickly run into is the gold spot price. If you're looking for the gold price per ounce, this is slightly different.
The gold spot price is the price you pay for gold delivered right now. This is also sometimes called the paper price as it's the price of gold on paper, right now.
The spot gold price may not be the same as the price that gold is currently trading at on the market. If you're given a price for buying gold, it's most likely the gold spot price.
The gold spot price is based on futures exchanges.
Why Does Gold Price Per Ounce Fluctuate?
Gold price per ounce fluctuation is a normal part of the market and can be caused by any number of factors.
For example, all of these could cause the gold price per ounce to change:
- Monetary policy
- Interest rates
- Inflation or deflation
- Investment demand
- Jewelry demand
- Tech product demand
- Risk appetite or aversion
- Mine supply
As you can see, there are many factors that can affect the gold price per ounce.
What Causes the Current Gold Price Per Ounce to Go Up?
What most investors are really interested in is what causes the current gold price per ounce to go up. You've bought in and invested in gold. You (luckily) bought low. Now, you're hoping for the gold price per ounce to go up.
What exactly should you hope for?
All of these factors can cause the gold price per ounce to go up:
- Devaluation of the dollar
- Loss of value in the stock market
- Uncertainty in geopolitics or U.S. monetary policy
Though fluctuations are normal, it's important to remember that the value of gold in terms of purchasing power remains relatively steady over time.
Is Gold Bullion Traceable by the Government?
When you invest in gold, you have a couple of options. You can buy physical gold which you or a dealer stores, or you can buy gold certificates, exchange-traded products, gold bullion derivatives, or gold accounts. You have many options.
If you're looking to invest without notifying the government, gold is a good option. In most instances, gold isn't traceable. This is because dealers don't have to report the transactions to the IRS.
With one exception.
If you meet both of these requirements, the transaction must be disclosed:
- The transaction is larger than $10,000.
- The payment is made using cash or with two or more cash derivatives. This includes: money orders, cashier's checks, or traveler's checks.
Avoid this rare situation and your gold purchase isn't reported to the government.
How Does Gold Compare to Bitcoin?
A popular investment right now is Bitcoin. Bitcoin is a type of digital currency. Currently, Bitcoin has very little utility and lacks intrinsic value. As with most investments, the value of Bitcoin is speculative.
Gold on the other hand has utility in physical products such as jewelry. You could say Bitcoin is almost the opposite of gold. However, it may still be a worthwhile investment for your particular situation.
If you're interested in learning more about investing in Bitcoin, we have many informative articles you can read.