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 July 21, 2017

July 23, 2017    

Price Movements:

Gold hit its highest point in a month this week as the dollar took a nosedive and turmoil in the White House ensued. For the week ending on July 21, the spot price of gold increased from $1,229.73 per ounce to $1,255.65 per ounce. Premiums on Gold American Eagles across major bullion dealers in the United States increased from $59.22 to $59.85 per coin. On average, gold premiums increased by $0.33 per ounce between Friday, July 14 and Friday, July 21.

The spot price of silver increased from $16.04 per ounce to $16.56 per ounce. Premiums on Silver American Eagles across major bullion dealers in the United States increased from $2.90 to $2.91 per coin. On average, silver premiums increased by $0.01 per ounce between Friday, July 14 and Friday, July 21.

Top Headlines

The gains lifted the precious metal above its 50-day moving average — a key technical indicator — for the first time since June 15 on an intraday basis.
By Fred Imbert and Gina Francolla for CNBC News

Gold prices rebounded for a second consecutive week with the precious metal surging 2.06% to trade at 1253 ahead of the New York close on Friday.
By Michael Boutros for DailyFX

Gold prices logged their highest settlement in a month on Friday, tacking on more than 2% for the week, as turmoil in the White House and weakness in the U.S. dollar spurred haven demand for the precious metal.
By Myra P. Saefong and Rachel Koning Beals for MarketWatch

Featured Product

Bullion collectors have a chance to own a piece of history with this 1 OZ 1999 Gold Australia Rabbit coin by Australia’s Perth Mint. Today, lunar coins are some of the most popular collectors coins on the market, but this coin of 99.99% pure gold was one of the first lunar calendar coins to be produced with only 18,261 coins struck. The rabbit is one of 12 animals featured on the Chinese Lunar Calendar, and the fourth coin in the Perth Mint’s lunar series to be released. The reverse side of the coin features a single rabbit on a patch of grass sitting in alert position, ready to hop away at any moment. The reverse side of the coin is engraved with the year of minting, “1999”, the coins weight, purity and metal content, “1 OZ 9999 GOLD”, along with the Chinese symbol for rabbit. The obverse side features a right-profile portrait of Queen Elizabeth II in the center and engraved with “ELIZABETH II,” “AUSTRALIA,” and “100 DOLLARS” in a semicircle surrounding the edge of the coin. The coins are available in uncirculated condition and have a face value of $100 AUD.