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 February 17, 2016

February 19, 2017    

Price Movements:

Gold rallied for the third straight week in a row with political uncertainty fueling demand for the precious metal. For the week ending on February 17, the spot price of gold increased from $1,234.87 per ounce to $1,236.04 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States increased from $57.25 per coin to $58.15 per coin. On average, gold premiums increased by $0.26 per ounce between Friday, February 10 and Friday, February 17.

The spot price of silver increased from $18.00 per ounce to $18.04 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States decreased from $2.98 to $2.97 per coin. On average, silver premiums remained stable at $ $2.55 per ounce between Friday, February 10 and Friday, February 17.

Top Headlines

Precious metals are consolidating this morning Friday February 17, either side of unchanged with spot gold prices at $1,237.89 per oz, but this is after a bullish day on Thursday, when prices closed up with gains of between 0.3% and 0.6%.
By William Adams for BullionDesk

Gold rose on Thursday as the dollar weakened after a 10-day winning streak and investors took the opportunity to buy bullion as a hedge against political uncertainty in the United States and Europe.
By CNBC

Gold prices fell Friday, but tallied a third straight weekly gain with political uncertainty fueling demand for the precious metal.
By Myra P. Saefong for MarketWatch

Featured Product

Disney’s most famous character, Mickey Mouse, is the star of the show in this new series from the New Zealand Mint. Mickey made his debut for the first time in the Steamboat Willy short in 1928 and has been entertaining cartoon lovers ever since. This one ounce coin contains 99.99% pure gold and has a face value of $250 New Zealand dollars. The coin is a nod to Mickey as he appeared in the animated short film The Band Concert. The short was released in 1935, as the first color short and featured Mickey as the frustrated leader of a band that just couldn’t get its act together. The reverse side of the coin features an image of Mickey serving as the conductor of the band, standing on a small podium with sheet music scattered about on the floor and musical notes swirling about. The obverse features the well-known right-profile portrait of Queen Elizabeth II. Originally created by Ian Rank-Broadley in 1998, it serves as the fourth-generation image of Her Majesty.

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