Gold Price

PRICE MOVEMENTS IN THE GOLDPRICE.COM PHYSICAL GOLD AND SILVER BULLION INDEXES

The GoldPrice.com Gold and Silver Premium Index tracks the changes in the premiums for popular gold and silver 1-oz sovereign bullion coins as traded by the largest precious metals dealers in North America.

The GoldPrice.com Gold Premium Index calculates the daily aggregate average premium history for U.S. Mint Gold American Eagles, U.S. Mint Gold Buffaloes, Royal Canadian Mint Gold Maples, Perth Mint Gold Kangaroos, and Austrian Gold Philharmonics from the following dealers: APMEX, Texas Precious Metals, JM Bullion, Provident Metals, SilverTowne, SD Bullion, Midwest Bullion, Sprott Money, Border Gold, Silver.com and Heartland Precious Metals. The index extracts shipping costs, and calculates based on an order volume of 10 "current year" gold coins.

The GoldPrice.com Silver Premium Index calculates the daily aggregate average premium history for U.S. Mint Silver American Eagles, Royal Canadian Mint Silver Maples, Perth Mint Silver Kangaroos, and Austrian Silver Philharmonics from the following dealers: APMEX, Texas Precious Metals, JM Bullion, Provident Metals, SilverTowne, SD Bullion, Midwest Bullion, Sprott Money, Border Gold, Silver.com and Heartland Precious Metals. The index extracts shipping costs, and calculates based on an order volume of 500 "current year” silver coins, known as a "monster box."

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The index tracks two values: the OTC spot price, and the product premium. The spot price is the over-the-counter commodities exchange price for a 400-oz good delivery gold bar or a 1,000-oz good delivery silver bar. The premium is the surcharge over the spot price. As an example, a buyer may pay a premium of $60 above the spot price of gold for a U.S. Mint Gold Eagle. The $60 fee comprises the cost incurred by the mint to handle, mint, and/or refine gold into a beautiful gold coin. The mints sell at a profit to their authorized wholesalers, and those wholesalers and dealers assess a fee to sell into the retail market. The accumulation of these charges represents the cumulative premium.

Premiums for precious metals coins can fluctuate significantly when demand outstrips supply for fabricated, finished product. While the OTC spot price of gold and silver can move rapidly, and millions of ounces can trade in the “paper” or “electronic” markets, the same volatility is not possible in the physical market due to manufacturing constraints. The mints cannot double or triple output to meet demand over short periods of time, and so these supply constraints are reflected in the premiums on these coins. As a rule, the lower the demand, the lower the premium. The higher the demand, the higher the premium. The index monitors and records these fluctuations.

Gold Price Newsletter

Price Movements for Week Ending July 6, 2018

July 08, 2018    

Price Movements:

Gold made a slight gain this week even after a strong U.S. Jobs Report, which is presumed to influence the Federal Reserve on a path toward higher interest rates. For the week ending on July 6, the spot price of gold increased from $1,253.75 to $1,255.74 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States increased from $58.33 to $58.39 per coin. On average, gold premiums increased by $0.03 per ounce between Friday, June 29 and July 6.

The spot price of silver decreased from $16.15 per ounce to $16.07 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States remained stable at $3.09 per coin. On average, silver premiums remained stable at $2.90 per ounce between Friday, June 29 and Friday, July 6.

Top Headlines

Gold futures settled lower Friday, but still notched a slight gain for the week, after a mostly upbeat U.S. jobs report was seen keeping the Federal Reserve on a path toward gradually higher interest rates.
By Myra P. Saefong and Rachel Koning Beal

Gold prices rose to a one-week high on Wednesday, rebounding from a seven-month low touched in the previous session, as a softer U.S. dollar stoked demand for the yellow metal.
By Karen Rodrigues for Reuters

Gold Prices in London's wholesale bullion market headed for a small weekly gain Friday lunchtime, holding $2 per ounce higher at $1255 as US employment data beat analysts for last month.
By Adrian Ash for BullionVault

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