Searching for the current price of gold? A gold price chart that includes historical gold prices? You’ve found it with America’s Gold Authority®, U.S. Money Reserve. Our interactive gold prices chart shows you the gold price per ounce in USD, along with options to view the 50-day moving average and 200-day moving average. This gold price chart is updated daily. The time unit is adapted to the selected period.
Gold Price Chart
How to Use a Gold Price Chart
Use U.S. Money Reserve’s gold price chart, courtesy of Gold Broker, to compare the price of gold over a specific period. The amount of time is up to you. You can review gold prices from 1980 to 2008, or over the last 5 days, 1 month, 1 year, 5 years, or 10 years.
A gold price chart can help you identify gold price trends and figure out when is the right time to buy gold for you. As market analysts are prone to say, “A trend is your friend!” But how do you identify a trend?
Start by looking for peaks and valleys in gold prices during the selected period. Do you see a pattern? You might notice a spike in gold prices in late November every four years (around the U.S. presidential election), or a dip when stock prices skyrocket. Identifying historical market trends doesn’t necessarily mean gold prices will perform the exact same way in the future, but trends and patterns could give you insight into what might happen and when you should act.
Understanding the Spot Price of Gold
To use this gold price chart, and many others, it’s important to understand gold spot prices. Note that the chart doesn’t track the price of gold coins or bars. Instead, it reports the spot price of gold, which is the market price at which gold is bought or sold for immediate payment and delivery. It’s the price you’d pay “on-the-spot.”
The spot price refers to the price for one troy ounce of gold and is typically quoted in U.S. dollars. A troy ounce is a standard unit of measurement for precious metals. One troy ounce is exactly 31.1034768 grams (1.097142857143 oz.), but you’ll often see gold prices listed as $/oz. without mentioning “troy.”
The spot price of gold does not account for any other costs associated with the design, manufacture, or sale of a gold coin or bar, including costs like shipping or insurance. Spot prices also do not take into account the demand for certain gold products and their numismatic value.
What Drives the Price of Gold?
The price of gold changes daily, as do the influencing price factors. Like most other assets, gold prices can shift for many different financial reasons. If you’re not tracking gold prices, changes in interest rates, inflation predictions, and stock market movements could all potentially catch you off guard.
A primary price driver is gold supply and demand, and accordingly, global income growth.
As global incomes increase, so can demand for gold jewelry and technology that includes gold, like smartphones, tablets, and computers. Income growth also encourages savings, which helps boost the demand for gold bullion coins and gold bars.
When demand is high and supply is limited, the purchase price of gold coins and bars tend to increase. It’s basic supply and demand.
The strength of the U.S. dollar can also influence gold prices. The two generally have an inverse relationship. A strong dollar can sometimes discourage gold buyers, as gold becomes more expensive to purchase. When the dollar is weak, gold is cheaper to purchase in other currencies.
Another recurring factor is geopolitical turbulence, like changes in European politics, tensions in the Middle East, and recurring risks in the Korean peninsula. Such international pressures can spur safe-haven buying and push gold prices higher.
Changes in the number of gold buyers can also impact gold prices. Transparency, efficiency, and policy changes are broadening access to gold buyers everywhere. Fewer barriers to buying gold can mean increased demand, and accordingly, increased gold prices.
Following the Gold-to-Silver Ratio
The gold-to-silver ratio measures how many ounces of silver it takes to buy one ounce of gold. This ratio gives a view of the price relationship between the white metal and the yellow metal. If the gold-to-silver ratio were 50:1, you would need 50 ounces of silver to purchase one ounce of gold.
As you’d expect, the gold-to-silver ratio fluctuates every day as the price of each metal goes up or down. A smaller ratio can mean silver is outperforming gold, while a bigger ratio can mean gold is outperforming silver.
If you want to figure out the gold-to-silver ratio, it’s simple. You merely divide the current price of gold by the current price of silver. This is what that looks like:
Price of gold/price of silver = gold-to-silver ratio
Let’s say the current price of gold is $1,830/oz. and the current price of silver is $27/oz. This is what the math would look like:
1,830 / 27 = 67.7:1
The result of this equation: a gold-to-silver ratio of 67.7:1.
Five factors can affect the gold-to-silver ratio:
- Economic uncertainty
- Low interest rates
- Instability in the equity markets
- Low U.S. Treasury yields
- Weak U.S. dollar
So what would be a “good” gold-to-silver ratio? It depends on your perspective. A high ratio may signal that it’s a good time to consider buying silver because the white metal might be more advantageously priced. On the other hand, a low ratio may signal that it’s a good time to consider buying gold because the yellow metal might be better priced compared to silver. Where does your precious metals portfolio need attention? Does it need more gold or more silver?
Monitoring the gold-to-silver ratio can help determine when it may be wise to pull the trigger on purchasing precious metals and whether to buy gold or silver.
Relationship Between Gold Prices and Inflation
There seems to be no direct correlation between gold prices and inflation. Nonetheless, there is a relationship: Gold can act as a hedge against inflation.
“Throughout history, gold has been considered the standard of wealth. And since Richard Nixon took us off the gold standard in 1971, gold has, for the most part—with some ups and downs along the way—held its [place despite] inflation,” Worth.com reports.
Inflation occurs when the total cost of goods and services—such as housing, food, fuel, transportation, and clothing—goes up. Gold protects against the weakened buying power of paper money stemming from inflation. As such, gold can act as a hedge against inflation.
Gold prices may climb when asset holders seek out the precious metal amid concerns about rising inflation, pushing up demand (and potentially prices) for the yellow metal. However, gold prices and the inflation rate don’t move at precisely the same pace, although gold prices and inflation may go up or down simultaneously.
An Oxford Economics study commissioned by the World Gold Council “shows that gold may perform especially strongly in more extreme economic scenarios featuring high inflation, a weak dollar, and elevated levels of financial stress.”
In a CNBC interview published in early April 2020, well-respected gold analyst George Milling-Stanley made a case for gold as an attractive asset in uncertain times.
“In my view, gold is a hedge against the unexpected, whether it is a hedge against macroeconomics or geopolitical [issues] like wars or pestilence,” Milling-Stanley said. “It has always been protection against the unexpected, whatever that might be. Gold tends to perform whenever anything unexpected happens.”
Learn More About the Gold Price Today
There may never be a better time to start diversifying your assets with physical gold. Increases in global income, more serious geopolitical tensions, and fewer barriers to buying gold could all impact the gold price chart you see here.
Whether you’re looking to understand gold prices better before you buy gold, or you want to keep tabs on your current precious metals portfolio, our experienced Account Executives can help. Call 1-844-307-1589 to learn more about gold prices today and the gold products that may best fit your financial goals.