Current gold price and its development

Are you investing in gold or are you still considering it? Do you want to know the current price of gold and follow the price trend? Continue reading to find out all the important information.

How the current gold price is stated

Gold is traded on the exchange in US dollars. The current price of gold is overwhelmingly quoted in dollars per ounce. If you are interested in the current price of gold in Czech crowns, most domestic sellers convert it according to the current exchange rate between the US dollar and the Czech crown.

TIP: You can see the current price of gold in our e-shop for each product. There is always a toggle between the Euro and the Koruna. At the same time, in addition to the current gold price, you will find the historical development of the product up to 6 months back. Check for example the current price of a gold bar weighing 20 grams.

Determining the current gold price

The current price of gold is determined by the financial exchanges. Among the largest are the London, New York and Tokyo exchanges. The current gold prices on all exchanges tend to be the same and follow each other during the course of trading.

However, the current exchange price of gold is only valid for large traders and applies mainly to so-called paper gold (various gold certificates or ETFs).

For example, the current world gold market price, the so-called London fix, is announced twice a day by the major gold traders. This gold reference price is used by companies that trade at least 1 000 oz of gold.

Current gold price for end customers

End customers who buy physical gold in the form of gold bullion must add a premium to the gold price. This is a premium that covers the production costs of gold processors, distribution costs and the margin of traders. It is usually around two to seven percent.This increase, called the premium, varies depending on the size and quality of the bars you buy.

Factors that influence the current gold price

The fundamental factors affecting the current gold price undoubtedly include the US dollar exchange rate. If the dollar is devalued, the current price of gold increases. If the opposite is true, the current gold price decreases.

Inflation also affects the current gold price

Another important factor affecting the current gold price is the level of inflation in the world. When inflation is rising, gold becomes a popular investment, which leads to an increase in its price. When there are financial, political and other problems, the situation is virtually the same.

Current gold price vs supply and demand

The supply and demand relationship is undoubtedly one of the significant factors affecting the current gold price. On the demand side, it is mainly jewellery and investment demand. Supply is represented by the proportion of gold in central bank reserves, the level of recycling and the level of annual world gold production.

The current gold price and the world economic situation

The current price of gold is linked to the economic situation of the world’s countries. For example, in 2008, at the height of the economic crisis, investors bought huge amounts of gold. Central banks were also stockpiling gold. Both banks and investors consider gold a good hedge during and immediately after a crisis.

The current gold price and Czech investors

Czech investors should be interested in the exchange rate between the Czech koruna and the dollar or the euro in relation to the current gold price. It often happens that when the koruna strengthens, the current gold price in dollars rises, but the price in koruna stagnates or falls. And when the koruna weakens, the price of gold can reverse.

If the dollar is stable and the krona is strengthening, investing in gold is an ideal opportunity. Conversely, if the dollar is stable but the crown is weakening, it can be an interesting opportunity to sell.

How to keep the current gold price handy?

There’s nothing easier than keeping track of the products in our e-shop. For each bar or other product, you will find the current gold price as well as the development over the last 6 months. Simply and clearly.

Explore the range of investment bars with the current gold price for each product