Gold at Spot Price

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Buy Gold at Spot

Many people want to and consistently ask ‘can I buy gold at spot price’. Most often, you cannot buy gold at the spot price because the spot price of gold is the gold spot price for buying and selling for immediate payment or delivery. Basically it means “on-the-spot” trading instead of buying futures. This spot price does not apply to all gold bullion products, particularly because the spot price of gold applies to the theoretical price of raw gold before it is minted into bars, coins, or rounds. Additionally, the gold spot price is an estimate of the price of 1 troy oz of gold (31.1035 g or 1.0971 oz), so if you buy a size bigger than that, it will vary drastically from the spot. However, if you want to buy gold at spot price, you can with select products on this page with Bullion Exchanges.

What Else Impacts the Spot Price of Gold?

The spot price of gold is the price of the raw material of gold. Usually, you cannot buy gold at spot because that would be akin to buying a house for its raw materials and not factoring in the location, school district, town, additional features, etc. The spot price of gold neglects the costs of refining the raw material, transportation and packaging, insurance, shipping and handling, mintage, and other numismatic value factors. These are commonly referred to as premiums

How Much Does Gold Sell For?

The spot price of gold is affected by many factors on top of premiums. These factors can include—but are not limited to—market speculation, gold futures, the strength of the dollar, political/social/economic events, and of course, supply and demand. Additionally, the gold spot price is updated every minute. Even when the NY Stock Exchange is not open, the gold spot price is changing because of gold trades around the world in different time zones. The spot price of gold, however, is the same in every country. So, the spot price reflects an equal value for the markets in NY, Chicago, London, Zurich, China, and Hong Kong. 

Trust Bullion Exchanges, Your Neighborhood Precious Metals Retailer

Bullion Exchanges carries generic gold and gold bars from mints around the world. We also sell gold bars in gram, 5 and 10 ounces, and kilo sizes. For coins, we have a diverse selection of gold rounds and gold coins in 1 oz and fractional gold coins. If you take a look at our selection of precious metal deals, you will quickly learn that we have the best prices around. We also utilize lock-in prices and hedge all our products, so if the spot price of gold jumps moments after you place your order, we will not cancel your order. Please feel free to contact us during our business hours if you have any questions about our products and services.