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Current gold price

Current gold price:

$1,509.08 each ounce
$75.21 per dwt. (pennyweight)
$48.52 per gram

Oil and gold are the most discussed resources all over the world. Discussions about demand, price manipulation and availability concern consumers, traders, authorities and governments every day. Especially rapidly rising or falling gold prices can spark new discussions. Maybe the price drop is unnatural? Was it governmentally-controlled or even affected? Conspiracy theories are highly sought-after, if people talk about the current gold price.

Gold is traded on the New York Stock Exchange and on foreign locations like Hong Kong or Zurich. The New York Stock Exchange is the most important stock exchange and affects the current gold price very much. But also Hong Kong and Zurich play an important role if we speak about the price development. When the economy of an important foreign country turns into bad or if the confidence in governments with a world leading position gets lost, the gold price can rise rapidly as seen in 2009 or at the beginning of 2015. But the gold price can also fall rapidly as seen in 2013 after the stabilization of the financial crisis, promising economic prospects and some huge gold sales. These gold price building facts are just an overview. There are numberless of more reasons that can affect the gold price on a smaller scale. A further reason which has nothing to do with the economy or the government is the availability of resources. If mining becomes more and more complex and expensive because gold runs out, the price will increase. But the availability of resources can change very fast as seen on the current fracking boom. Finding huge deposits can drop the gold price painfully. Price can cut in half just within days.

What makes the demand of gold?

Most of the annual gold production will be used for jewelry, coins and ingots but the industrial demand also plays a price building role. It’s not only your engagement ring, your wedding band or your jubilee collier, making the major demand of gold. Technology groups like Apple, Samsung or Sony are well-known examples for demanding gold, also important for conductor boards, microchips and other high-tech products. A further big consumer of gold, silver, platinum and palladium is the medical industry. Precious metals are used for dental crowns or artificial joints because gold is well-tolerated to human beings.

We learn that there is a natural demand of gold which can’t be influenced by governments or large investors, what makes the gold price more independent than conspiracy theorists think.

Gold price each ounce:

The current gold price each ounce amounts now $1,322.33. Traders and individuals orientate on the price each ounce because it’s the most important unit of weight for gold. A significant number of gold products like coins or ingots weighing exactly an ounce of fine gold. Therefore we always speak about the gold price each ounce if we speak about buying or selling gold bullions. The weight in ounces is the major indicator for traders from all over the world. In America we trade gold in US Dollars, however, in Europe gold trades in Euro or in Hong Kong in Hong Kong Dollars.

Current gold price each ounce for 24K gold: $1,509.08
Current gold price each ounce for 18K gold: $1,132.94
Current gold price each ounce for 14K gold: $883.69

Current gold price per dwt.

If we speak about the gold price per dwt., we speak about jewelry. Only jewelry or scrap gold will be evaluated in dwt. This applies if you sell gold to a gold buyer or if you buy machine produced gold jewelry. We think, that an average piece of jewelry will be calculated like that:

  1. Price indicator: the material value (determined per dwt.)
  2. Price indicator: the manufacturing costs and manufacturer margin
  3. Price indicator: the dealers margin

Calculate a deduction in the range of 10% to 20% if you sell gold. Very reliable buyers will charge you about 10% for turning gold into cash.

Current gold price per dwt. for 24K gold: $75.21
Current gold price per dwt. for 18K gold: $56.46
Current gold price per dwt. for 14K gold: $44.04

Current gold price per gram

Most people and dealers in the US calculate prices per dwt. instead of gram. But there are also some areas, like Colorado, where gram is more common than dwt.

Current gold price per gram for 24K gold: $48.52
Current gold price per gram for 18K gold: $36.43
Current gold price per gram for 14K gold: $28.41

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