As with any other commodity the price of gold on today’s world markets is constantly changing.
This hasn’t always been the case. From the beginning of the 19th Century until the mid-1970s, prices of gold were generally stable and averaged around $20 per ounce.
When the US abandoned the “gold standard” in 1975 and floated the dollar relative to gold and other currencies, the live price of gold soared to well over $600 per ounce by 1980.
Like other commodities in the global marketplace, live gold prices are most commonly quoted in dollars, which naturally means live gold charts are affected by fluctuations in the dollar itself.
The London Gold Fixing of the UK live gold price is widely relied upon to determine prices in many global markets. Since 1919, excluding a 15-year break from the beginning of the Second World War, a group of five City institutions (currently the main Bullion Houses) has met and agreed this fixed UK gold price twice a day, at 10:30 AM and 3 PM (naturally, nowadays meetings are by phone rather than in person).
The real-time live prices are not actually fixed at all, and will vary minute by minute throughout the day, but the daily ‘fixings’ do offer useful reference points. They give a benchmark to help international gold traders to balance their live gold prices and holdings at a fixed point in time.
Daily newspapers have long reported the gold price, but have been overtaken by technology. Thanks to the Internet, today anybody can check this metal’s price online at any moment, anywhere in the world and, in dozens of currencies – there are even mobile apps to help you!
As with any commodity or financial asset in the internet age, actual live prices for the precious metal vary by the millisecond, so by the time a live gold chart is drawn it is out of date! However, live gold charts are invaluable for research purposes and for planning your investments.
At Gold Investments, the prices for all our coins and bars are live. Just press the purchase tab at any point you would like to purchase and that price is fixed.
See live gold prices here in our buy gold section.