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 January 13, 2016

January 15, 2017    

Price Movements:

The U.S. dollar slumped lower this week as comments from President-elect Donald Trump during his press conference fueled uncertainty in financial markets in weeks to come. For the week ending on January 13, the spot price of gold increased from $1,173.56 per ounce to $1,198.41 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States increased from $63.05 per coin to $64.42 per coin. On average, gold premiums increased by $0.21 per ounce between Friday, January 6 and Friday, January 13.

The spot price of silver increased from $16.55 per ounce to $16.86 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States decreased from $3.15 to $3.13 per coin.  On average, silver premiums increased by $0.01 per ounce between Friday, January 6 and Friday, January 13.

Top Headlines

Base metals prices on the LME are consolidating at lower numbers this morning January 13 with prices down an average of 0.7%, this is after a bullish day yesterday, January 12, when prices climbed an average of 2%.
By William Adams for BullionDesk

Gold futures rallied just ahead of Wednesday’s settlement to finish at their highest level in seven weeks, with the U.S. dollar taking a turn lower as comments from President-elect Donald Trump fueled uncertainty in financial markets.
By Myra P. Saefong and Rachel Koning Beals for MarketWatch

Gold prices ended the U.S. day session with good gains and hit a six-week high Wednesday. The precious metal became a bit volatile during President-Elect Donald Trump’s press conference, mainly because the U.S. stock and bond markets became very jittery.
By Jim Wyckoff for Kitco News

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