Live Updated Gold Spot Price Chart

Whether you are buying placer gold or selling placer gold, it’s important to know the spot price of gold. The current gold spot price is not everything though. When it comes to buying and selling placer gold, there are other factors to consider.

The spot price of gold lets us know at any given time what an ounce of 99% pure gold bullion is trading for. This gold spot price does not indicate what placer gold is worth, although it can be used as a basis, at least somewhat. So, what is placer gold worth in relation to the gold spot price? That usually depends on how fast you want to sell the gold. Just about anyone can walk into a jeweller or a mining shop and get 80% of spot value. Hey, if you have an ounce of fine placer gold and you have to sell it today, well, go for it. Similarly, if you send your gold to a refiner, they might give you 85% or even more but there is a catch. Most placer gold is impure to one degree or another, say anywhere from 70 to 90% gold. The rest is impurities such as silver, copper, etc. The refiner that will give you 85% sounds good but they will only pay you the spot price of gold for the gold! They certainly won’t pay you the spot price of gold for copper or silver.

The truth is though that placer gold is worth more than the spot price of gold. Sometimes by several hundred percentage points. How can that be so given what you have just read? You have to look at placer gold not only for it’s gold value in weight (gold spot price for 99.9999% fine bullion), but for its gemstone value. It’s actually worth more than it’s weight in gold. How much more depends on a lot of factors but it mostly comes down to who you are selling to, how you are marketing it and how fine it is. 5 ounces of fine gold will be more likely to sell at close to spot price than say an extremely rare, 10 ounce plus placer nugget auctioned off at Christies.

There are many places and ways to buy and sell placer gold. Sometimes the gold forums are a good place to try if you are a trusted member and participant. Ebay can be a good place to buy and sell placer gold. Check out what gold is going for on Ebay now: Placer Gold on Ebay

Let’s say that you find a gram of gold on Ebay which you would like to purchase. How many grams are in a Troy ounce? A troy ounce is 31.1 grams. Let’s say that the spot price of gold is $1000. If you divide $1000 by 31.1 you know that the gram of gold is worth $32.15. If you see that the gram of gold is going for $27 + $7 shipping, do the following math: $27+ $7 = $34 , 34 x 31.1 = $1057. So, you would be paying $1057 per troy ounce for that gram of gold. It pays to take a look around and see what gold is actually selling for in relation to the spot price of gold. With the fluctuations that take place, that can vary from day to day.

Don’t forget to check the spot price of gold before you buy to figure out how much you are paying for the gold!

Of course, the best way to make money on gold is to find it for yourself and just be a seller. Good Luck!
Gold Nuggets for Sale


For other metal spot prices, visit MetalSpotPrice.com

Precious Metal Spot Prices

What’s happening to the spot price of gold and gold investing? Check out the news from Yahoo:

1. Gold producer Buryatzoloto sees earnings fall 6% in 2007 (Interfax) - IRKUTSK. May 15 (Interfax) - - Buryatzoloto (RTS: BRZL), a gold producer from the internal Russian republic of Buryatia owned by Canada's High River Gold, saw its net profit to Russian accounting standards fall 5.9% in 2007 to 313.7 million rubles.
2. Full Metal Acquires Granite Creek Gold Property, Alaska (Marketwire via Yahoo! Finance) - Full Metal Minerals Ltd. is pleased to announce that the Company has entered into an Exploration Agreement with an Option to Purchase a 100% interest in the Granite Creek Gold Property, located in western Alaska.
3. Camp pairs kids, horses (The Sacramento Bee) - Applications are being accepted for the Placer County Sheriff's Department's "Ride With Pride," a one-day camp that pairs children between the ages of 7 and 12 with deputies and their horses. The free camp is available from 9 a.m. to 2 p.m. June 16-19 at the Gold Country Fairgrounds, 1273 High St., Auburn. Lunch will be provided. Call (916) 652-2419.
4. High River Gold Reports First Quarter 2008 Results (CCNMatthews via Yahoo! Finance) - TORONTO, ONTARIO-- -
5. High River Gold Reports First Quarter 2008 Results (Marketwire via Yahoo! Finance) - (All currency figures are in Canadian dollars unless otherwise noted)
6. Prize Resumes Work on Yellowjacket Zone, Atlin Gold Property, BC (CCNMatthews via Yahoo! Finance) - CALGARY, ALBERTA-- - Prize Mining Corporation is pleased to announce that it is resuming the Yellowjacket Zone bulk sampling program on its Atlin Gold Property, located in northwestern British Columbia.
7. Silverado's Chinese Investor Attraction Program To Spark Buying (Asia Pulse via Yahoo!7 News) - SILVERADO GOLD MINES LTD (Full text of a statement. Contact details below.) MEDIA RELEASE PR30270 Silverado's Chinese Investor Attraction Program Expected to Trigger More Retail and Institutional Buying VANCOUVER, May 15 /CNW-AsiaNet/ - China Signs Investment Facilitation Agreement with U.S. SEC Silverado Gold Mines Ltd (Trading Symbols, OTC BB - SLGLF, FRANKFURT - SLGL), and its wholly owned ...
8. Aurifer Capital Corp. Proposes to Option Mining Claims in British Columbia as Qualifying Transaction (CCNMatthews via Yahoo! Finance) - VANCOUVER, BRITISH COLUMBIA-- - Aurifer Capital Corp. is pleased to announce that it has entered into an option agreement dated April 30, 2008 with Clarke Gold Inc. and Bis-Gold Resources Inc. with respect to earning up to a 100% undivided interest in certain mining claims located in the Nelson Mining District, British Columbia .
9. Silverado's Chinese Investor Attraction Program Expected to Trigger More Retail and Institutional Buying (PR Newswire via Yahoo! Finance) - Silverado Gold Mines Ltd , and its wholly owned subsidiary, Silverado Green Fuel Inc., have received an updated verbal report from its China investor attraction contractor, Synergy Management Group Ltd.
10. Public safety watch: Buckle up, or face a citation (The Sacramento Bee) - Rocklin, Roseville and Lincoln police say they will watch specifically for and issue citations for seat belt violations in vehicles this month.

1. FACTBOX-Gold price facts and milestones on road to $850 (Reuters via Yahoo! UK & Ireland News) - (Reuters) - The spot gold price surged to a historic high above $850 an ounce on Wednesday on strong oil prices, a weak dollar and geopolitical tensions.
2. (AFX UK Focus) 2008-01-02 13:36 GMT: India spot gold closes higher by 1 pct but domestic demand still weak (Interactive Investor) - MUMBAI (Thomson Financial) - Indian spot gold closed higher by over 1 pct today, buoyed by global leads, but domestic demand stayed weak.
3. Manipulation / Management: Controlling the Gold Price (GoldSeek.com) - There is much talk of price management/manipulation in almost all markets. These charges are met with denial, silence and scorn. There are several aspects of markets that can give the opportunity to manage/manipulate prices.
4. Gold near record high (Reuters via Yahoo! UK & Ireland News) - Gold stabilised on Thursday, hovering near a record high above $861 an ounce hit the previous day, as record high crude oil price triggered fears of inflation and a possible recession in the United States.
5. Gold Rises to Highest Since January 1980 on Inflation Concerns (Bloomberg.com) - Jan. 2 (Bloomberg) — Gold rose, extending a seven-year rally to the highest price since 1980, as a weakening dollar and higher energy costs boosted demand for a hedge against inflation. Silver also gained.
6. Dubai gold sales up 16% in 2007 (Zawya) - Dubai: Dubai’s gold sales increased about 16 per cent in 2007 despite a sharp fall in consumer demand in the third quarter and a year of price volatility for the metal, an industry group said.
7. Gold price touches a new peak (New Kerala) - Mumbai, Jan 2: Gold today zoomed to an all time high of Rs 10,815 per ten gm with a smart gain of Rs 110 from its last close.
8. Gold rose 30 percent in 2007 (Reuters via Yahoo! UK & Ireland News) - Gold bullion traded lower on New Year’s Eve, but the market saw its biggest gain in 28 years in 2007 with the spot price less than $20 an ounce from hitting historic highs.
9. Toronto stocks remain buoyant on gold, energy (Reuters via Yahoo! News) - The Toronto Stock Exchange’s main index began the year with a jump on Wednesday but then pared some of those gains as soft financials partly offset soaring gold and energy issues.
10. Dollar fear sparks rush to oil and gold (FT.com via Yahoo! News) - Crude oil prices briefly hit the psychological $100-a-barrel level and gold prices jumped to an all-time high as investors on Wednesday poured money into commodities following deepening fears about the weakness of US dollar.