Gold Price, Silver Price, and Platinum price right now

We utilize an advanced feed which compiles collective data of various reliable sources. Prices of products on the site use a formula which includes an up-to-the-minute account of the gold spot price, along with other costs such as a dealer’s premium and shipping costs. The same method is used for silver, platinum, and palladium spot prices.

Because gold is traded in exchanges across the world, the cost is always changing. The spot gold price gets calculated using data from the COMEX.

Gold has long been used as a means of storing wealth and fundamentally measuring value. Even in ancient times, gold was a sign of wealth and was traded like modern money. While the world is no longer on the gold standard, it continues to be used as a means of transferring wealth.

The gold price today is affected by a variety of economic and political factors. Whenever the U.S. Dollar falls in value, the price of gold generally rises, and vice versa. This is not a reason for gold investors to cheer for a poor United States economy, however, as the value of the dollar is constantly dropping for all currencies due to standard inflation rates.

As the value of gold rises with USD inflation, the gold spot price has risen throughout the years. As with any other investment, gold prices aren’t always increasing. From 2000-2002, the gold value per ounce remained fairly stagnant ($270 per ounce). The cost then began to drastically rise from 2003-2011, reaching over $1800 per troy ounce in September of 2011. The gold price then dropped significantly from late 2011 until 2015, before beginning to rise once again.

Even when the value is dropping, there’s no reason to panic. Just 100 years ago in the early 1900’s, the gold price per ounce was estimated at roughly $18-20 per ounce. Since then, the price has increased by 8300%.

The silver spot price has always been much lower than other precious metals being traded throughout the world. Silver has often been referred to as the “Poor Man’s Gold” or “the Money of the People” because of its lower price and higher availability.

Silver prices are often viewed through the gold-to-silver price ratio, which has been nearly 60:1 over the past decade. Many expect silver to increase in price, as the historical ratio sits closer to 30:1, suggesting that silver is currently very underpriced.

Silver followed a similar progression to gold in terms of silver spot price. From 2000-2003, there was very little change ($4.50 per ounce). Around 2004, the price started rising, and eventually peaked at $47 per troy ounce in mid 2011. The cost drastically dropped from 2011-2016, and has remained fairly steady since then.