Bullion dealers such as UKBullion.com use the gold spot price to determine the exact price to charge for a specific coin or bar. Gold prices are calculated in troy ounces and can fluctuate every couple of seconds during market hours. This provides the customer with the most accurate price based on the market.
The UKBullion.com site runs a real-time price feed so customers are assured they are purchasing products which take into account the latest prices of gold.
The spot gold market is active and trades for almost 24 hours a day. There are 31.1034768 grams of gold per troy ounce and 1000 grams of gold per kilogram.
In addition to the spot price, customers pay to cover manufacturing and distribution costs which are added to the cost of the coin or bar. Therefore, it sometimes pays to buy in bulk rather than smaller quantities so you can save on some of the costs.
Spot prices are also available for other precious metals such as Silver, Platinum, and Palladium. All are also available with UKBullion.com at great rates.
If you’d like to monitor the price of gold on the go then download the free app from www.ukbullion.com/live-chart/gold/gbp. This provides you with a constant feed to your phone of the current prices of gold.
We at UKBullion.com know the value of gold is constantly changing based on economic activities around the world; however, we still recognise that it’s never a bad time to buy gold. The changes in day to day prices will not impact your investment. Gold should be purchased as a long term investment which will see its true value rise.
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