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 the Week Ending January 12, 2018

January 14, 2018    

Price Movements:

Gold continued to rise for the majority of the week before leveling off due to an announcement from the Consumer Price Index of a higher than expected US inflation rate. For the week ending on January 12, the spot price of gold increased from $1,320.09 to $1,336.00 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States decreased from $58.26 to $54.15 per coin. On average, gold premiums decreased by $0.60 per ounce between Friday, January 5 and Friday, January 12. 

The spot price of silver increased from $17.28 per ounce to $17.31 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States decreased from $3.23 to $3.14 per coin. On average, silver premiums decreased by $0.03 per ounce between Friday, January 5 and Friday, January 12. 

 

Top Headlines

Gold prices marked a fresh four-month high on Friday to tally a fifth week of gains in a row, finding support as the dollar extended its earlier decline despite a slightly higher-than-expected climb in core U.S. inflation.
By Myra P. Saefong and Barbara Kollmeyer for MarketWatch

Gold prices are moderately higher in early U.S. trading Friday, but off the overnight gains that notched a four-month high. U.S. consumer price inflation that was a bit higher than expected helped to pull the gold market off its overnight highs.
By Jim Wyckoff for Kitco News

We can thank the Fear Trade for much of gold’s performance last year. The Fear Trade, of course, is driven by low to negative real interest rates—when inflation erodes away at government bond yields — deficit spending, a weaker U.S. dollar and geopolitical uncertainty.
By Frank Holmes for Forbes

Featured Product

Bullion investors will clamor to collect this stunning silver coin that features the face of one of the world's most majestic animals, the silverback gorilla. The 2016 Congo Silverback Gorilla Silver One-Ounce Coin is the second release in the Silverback Gorilla Coin Program from the Republic of Congo and contains a full Troy ounce of 99.9% fine silver. These coins are a creation of a partnership between the Republic of Congo and the Scottsdale Mint and have a face value of 5,000 Francs CFA and are considered legal tender by the Republic of Congo. What's interesting is the monetary worth is actually boosted by the amount of silver in the coin which is more valuable than the face value. The obverse of the coin features a detailed depiction of the striking face of the male silverback gorilla staring straight ahead at the viewer of the coin. The polished silver appearance shows the gorilla's life-like fur standing on end, hooded eyes and imposing muzzle. The obverse is engraved with the words "CONGO SILVERBACK GORILLA", as well as the coin's year, "2016", weight "1 OZ", and silver content ".999 SILVER". The reverse side of the coin features Congo's coat of arms which consists of a shield flanked by two elephants with a banner in the design that is inscribed with the country's official motto "United, Travail, Progres". "REPUBLIC OF CONGO" stretches across the top of the coin with the coin's face value at the bottom, "5000 FRANCS CFA". Adult male gorillas are called silverbacks because of a silver strip of fur that goes down their spine. They are usually the most mature gorillas in their pack and take on the role of leaders by leading and guiding their pack from threats. These coins are sure to be a collector's item with a limited mintage of just 75,000 coins.