The Price of Gold Per Ounce

When thinking about gold, the first thing that comes to a person’s mind is jewelry. Yes, some gold is made as designer necklaces and rings, but gold does come in other forms. Other forms of gold are coins or thick bars. No matter what the other form it is, gold is an investment that is treated just like stock. Gold is usually weighed on the price per ounce. And, when the price per ounce of gold is high, the investment is better.

Price of Gold per Ounce

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Determining the price per ounce

The rates for gold prices per ounce fluctuate depending on the state of the economy, and supply and demand. In the time since the early 1790s, the price of gold per troy ounce has changed four times. Current prices per ounce for gold are $1,571.52. Because it has the tendency to fluctuate, monitoring the prices of gold is important to investors.

Reason why price per ounce of gold is high

Gold is a product that is scarce or hard to find in the world. Most of the world’s gold has already been accounted for, so there are little places left to look for new gold. Because most of the world’s gold has been found, what is available is considered precious metal. Since it is a precious metal, there is little doubt that it will ever be devalued, unlike bonds and stocks. Whether it is in metal bars or coins, the value remains the same across the board.

If you are selling jewelry, gold investors will be primarily interested in the metal itself, not the jewels. Most jewelry gold is priced by the karat, which is lower than the price per ounce of gold. If gold jewelry is sent to gold purchasing companies, the jewelry is often melted to its simple and basic form.