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gold price per ounce
Gold Price Per Ounce
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
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
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.