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 September 22, 2017

September 24, 2017    

Price Movements:

The combination of decreasing demand, and the Federal Reserve's hints at increasing interest rates in December, caused gold to drop this week. For the week ending on September 22, the spot price of gold decreased from $1,320.38 per ounce to $1,298.13 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States decreased from $58.15 to $56.94 per coin. On average, gold premiums decreased by $0.81 per ounce between Friday, September 15 and Friday, September 22.

The spot price of silver decreased from $17.64 per ounce to $17.05 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States decreased from $3.05 to $3.03 per coin. On average, silver premiums increased by $0.01 per ounce between Friday, September 15 and Friday, September 22.

Top Headlines

Gold prices dropped on Thursday, settling below $1,300 for the first time in September after the U.S. Federal Reserve hinted that interest rates will go up in December.
By Myra P. Saefong and Rachel Koning Beals

Gold prices were modestly lower during the early-afternoon in U.S. stock markets on Wednesday, in the wake of an FOMC statement that has been deemed friendly to the U.S. monetary policy hawks.
By Forbes News

From an important longer-term technical perspective, the recent declines in gold prices are so far just nothing more than a normal downside price correction amid a longer-term uptrend.
By Jim Wyckoff for Kitco News

Featured Product

Every year bullion collectors clamor to get their hands on the latest one ounce Texas silver round, and the 2018 version is no exception. This IRA eligible round contains one ounce of 99.99% fine silver and is available in brilliant, uncirculated condition. The 2018 round features all things that make Texas the proudest state in the nation: the cowboy, the bluebonnet flower, and the Texas State Capitol. The obverse side of the round is dominated by the south façade of the Lone Star State Capitol and features all the intricate details of the real-life capital including its prominent dome with ornate arches and columns. On either side of the capital, a rowdy Texas cowboy tips his hat to the state of Texas and the Texas state flower, the tranquil bluebonnet, waves in the wind. The cowboy on the round is a depiction of the famous Texas Cowboy Monument, sculpted by Constance Whitney Warren, which was erected on the capital grounds in 1925. The round’s silver content and weight are etched around the top edge of the round. The obverse side of the coin features Texas' iconic lone star symbol in the foreground of the coin, with a textured topographical outline of the state in the background. The round’s mintage year is engraved on the bottom left of the round, and "TEXAS", in all capital letters, dominates the top half of the coin.