Some people track team points in their fantasy football leagues. Others carefully note the comings and goings of Washington, D.C., insiders. Almost everyone likes to know which Hollywood movies are big hits—or bigger misses.
But you? You like to track gold prices.
As interests go, this one is equal parts important and fascinating. Staying on top of the most recent gold prices can help you decide exactly when to buy gold. Here are five tools that can help you track gold prices. Each one provides a useful way to watch gold’s market moves more closely.
1. Gold price chart by U.S. Money Reserve
U.S. Money Reserve works to uphold its title as America’s Gold Authority® in many ways. One way is by providing customers and the general public as well with vital gold information such as current gold prices and trend data that goes back decades.
Why You’ll Enjoy Using This Resource to Track Gold Prices
U.S. Money Reserve’s interactive gold chart provides data on the gold price per ounce in USD for a personalized date range, features 50-day and 200-day moving averages, and is updated daily. The chart also features a best-in-class breakdown of the whys and hows of tracking gold prices.
2. Gold & Currency – Live Silver
Twenty-four hours a day, all you need to do to learn the real-time price of gold is pull out your smartphone and open this app. You can check data from major gold markets such as New York, London, and Hong Kong—plus seven other markets—in currencies from dollars and pounds to euros and yen. If you’re an international traveler and often deal in local currencies, you’ll want this app in your back pocket.
Why You’ll Enjoy Using This Resource to Track Gold Prices
Some apps are bloated with unnecessary features that muddy the user experience. Not so the Gold & Currency – Live Silver app. You can open the app and immediately receive the data you’re seeking. Changing the currency type is equally as straightforward.
3. Precious metals price guides by the London Bullion Market Association
>> View Precious Metals Price Guides
The London Bullion Market Association (LBMA) prides itself on being the global authority on precious metals. So you’d be right to expect the LBMA to offer readily accessible gold price tracking data. You can also access information on silver through the LBMA by selecting that precious metal from a drop-down menu. (U.S. Money Reserve has silver price information, too. It doesn’t hurt to have such data available from multiple locations!)
Why You’ll Enjoy Using This Resource to Track Gold Prices
Interactive charts are great. A chart is even provided here. But people process data differently. If you’re someone who appreciates a comprehensive table of gold prices that goes back several months, make the LBMA’s precious metals price guides web page a regular stop!
4. Gold Price Today by Markets Insider
Markets Insider is part of the popular business website Business Insider. That makes news part of its DNA, and news is the key feature that differentiates this resource. All of the other useful elements are here, like charts and historical price data, but no other site does as good a job of putting gold prices in context. Markets Insider includes convenient links to relevant gold news just underneath its gold price chart.
Why You’ll Enjoy Using This Resource to Track Gold Prices
In one word? News. In general, you’ll be hard-pressed to find better resources than those provided by U.S. Money Reserve and LBMA. But if you’re a news junkie in addition to being a gold price–tracking aficionado, look at Markets Insider.
5. Gold Futures Quotes by CME Group/COMEX
Get ready for a different perspective on gold. This COMEX tool presents data on gold futures rather than the straightforward spot price of gold that the other resources listed above make available.
The CME group explains, “Gold futures are hedging tools for commercial producers and users of gold.” Gold futures are legally binding agreements for the delivery of gold at an agreed-upon price in the future.
By comparison, the spot price of gold 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,” not at some time in the future.
Why You’ll Enjoy Using This Resource to Track Gold Prices
Gold futures can get complicated. But you don’t have to deal in gold futures or get tangled up in the stock market to take advantage of gold futures pricing.
“The primary function of any futures market is to provide a centralized marketplace for those who have an interest in buying or selling physical commodities [like gold] at some time in the future,” Investopedia explains.
Gold futures can give you insight into where people think gold prices might be headed in the future. As a buyer of physical gold, you can use this information to time your gold purchases to your advantage.
For example, if you see gold futures prices going up on a particular day, maybe you’ll want to put off your purchase until that date. If you see gold futures prices going down on another specific day, perhaps you’ll want to make your purchase on a different date.
Beyond Tracking Gold Prices
At U.S. Money Reserve, we can do more than help you track gold prices. We can help you understand how gold can strengthen and support a well-diversified portfolio. Call 1-844-307-1589 today for the latest market analysis from experienced Account Executives.
