USA Mint Precious Metals Price Chart
USA Mint’s gold and silver charts represent real-time spot prices in the precious metals market.
We give you the fastest updates online with 24-hour trends. All of the products on our website are priced based on a premium to spot price, therefore, you will notice that prices update every few seconds during market hours. This allows customers to buy based on the most up-to-date market conditions possible.
Gold and Silver Price Fluctuation
Similar to other investment assets, gold and silver are prone to price swings based on investor sentiment. They can also fluctuate due to trends in underlying supply and demand fundamentals.
Traders determine gold spot prices on futures exchanges. Metals contracts change hands in London and Shanghai when U.S. markets are closed. But the largest and most influential market for metals prices is the U.S. COMEX exchange. The quote for immediate settlement at any given time is effectively the spot price.
The prices of gold and silver tend to trend in the same direction but at different amplitudes. Silver is the more volatile of the two metals and therefore tends to amplify gold’s moves on both the upside and the downside.
That said, there are periods when silver may decouple from gold. As an example, a physical shortage particular to the silver market could cause silver prices to skyrocket independent of gold. And in the event of a financial crisis, gold may benefit from its safe-haven status while silver suffers from a hit to industrial demand.
When looking at gold and silver price charts, the most important thing to keep in mind is what timeframe you are observing. Some common ranges are the 24 hour, 1 week, 1 month, 3 month, 6 month, 1 year, 5 year, and 10 year timeframes.
If you are looking at the trend of prices based on a 24 hour or 7-day chart, it is important to keep in mind that the movements you see are likely short term variance caused by one-off events, and may not be at all indicative of the longer-term trend. For example, throughout 2012 the prices of gold and silver traded sideways, with both metals finishing in the same general range at which they started the year.
However, throughout the year there were several days and weeks where both metals swung several percentage points, so if you had seen the data chart for only that day or week, you may have a skewed long-term view of the general price trend. When analyzing metals price charts, we always recommend consulting both the shorter-term and longer-term price movements to get the best feel for the trend.
Technical Analysis of Gold and Silver
Although most physical metal investors are investing for the long term, there are also plenty of investors who are analyzing gold and silver price charts to make much shorter-term plays. This lot of investors use various analysis tools, calculators, and simply feel to guess as to which way gold and silver prices may move over the next day or two, based on the past day or two’s movements.
We never recommend this form of trading, as it is always nearly impossible to time the market, plus short-term, high-frequency trading tends to eat up your investment with commissions as you buy and sell. Short-term traders should proceed with caution and make sure they are trading money they can afford to lose.
In our opinion, the best way to invest in physical gold and silver is by making consistent investments at regular intervals over the long-term, otherwise known as dollar-cost averaging. By making investments at regular intervals, regardless of where prices move, you ensure that you average in fair pricing as opposed to trying to take advantage of day-to-day swings.
History has taught us that it is nearly impossible to time the markets, so by dollar-cost averaging your gold and silver prices you put yourself in a great position to protect your investments in the long run.
What Is the Gold Spot Price?
The spot price of gold is typically the base price of one troy ounce of gold in any form. The spot price is based on trading activity in the futures markets. Gold is traded like stocks and other securities do, and “spot” reflects the real-time price based on all trading activity at any given moment. In the US, the COMEX is the primary exchange that sets gold and silver prices. While trading of actual physical metal occurs on most exchanges, it is primarily used to hedge those positions and as such is a derivative of futures, and thus has minimal impact on setting the price.
Spot usually refers to the “bid” price you see listed—which is the price most recently quoted in the market that buyers are willing to purchase at (which might differ slightly from the “ask” price sellers are currently seeking). The spot gold price is quoted in US dollars since gold is universally priced in US dollars in markets around the world. Any quote of the spot price of gold in grams or kilos is typically just a conversion of the value in ounces and not a separate trading market. It’s the same for other currencies, like Euros or Yuan, which are usually calculated using current foreign currency exchange rates.
Gold trades around the world and around the clock. Some of the larger exchanges include New York, London, and Shanghai. Gold trades from 6pm eastern to 5:15pm eastern, Sunday through Friday (the market is closed for 45 minutes on weekdays). The spot price constantly fluctuates during trading days, depending on what buyers and sellers are doing.
The London market also provides a fixed price twice per day (during business days). The fixed price is a benchmark for institutions, producers, and other large market participants to price contracts. Retail customers typically cannot buy and sell based on the fixed price, only the spot price. Nevertheless, the London Fix remains a standard benchmark for tracking the gold price over time.
What Is the Silver Spot Price?
The spot silver price refers to the price of silver for immediate delivery. Transactions for bullion coins are almost always priced using the spot price as a basis. The spot silver market is trading very close to 24 hours a day as there is almost always a location somewhere in the world that is actively taking orders for silver transactions. New York, London, Sydney, Hong Kong, Tokyo, and Zurich are where most of the trading activity takes place. For the high and low values, we are showing the lowest bid and the highest ask of the day.
Why Are Silver and Gold Prices So Different?
The reason gold and silver prices vary widely boils down to one simple fact: rarity. The less supply there is of a metal, the higher the price. Therefore, gold prices tend to be much higher than silver prices because it is much harder to get. The reason supply is much larger for silver is because it is an easier metal to mine and it is often mined as a by-product to other metals mining. The average occurrence of gold in igneous rock is 0.004 parts per million. Silver shows up at a rate of 0.07 parts per million.
For more information about purchasing gold and silver bullion, contact USA Mint at (888) 725-7967 to speak with one of our experienced representatives.