The price of gold per ounce is also commonly referred to as the “spot price” of gold, and it represents the cost of one “troy-ounce” of pure gold. The troy-ounce originates from the Ancient Roman monetary system, and represents one-twelfth of a pound, as opposed to the one-sixteenth of a pound that we Americans use every day. The price of gold per ounce fluctuates several times per hour, according to how economic circumstances look. When the value of printed currency like our U.S. dollar is strong, gold prices typically subside. Conversely and historically, gold prices tend to rise when dollar values remain questionable, since gold is what backs the value of all printed currency in existence.
Earlier today, the price of gold per ounce was as low as $1073.30 per troy-ounce, but climbed back up to $1087.80 per ounce, as of around 5:25, EST. Holiday profit taking was attributed to gold’s dramatic spot price slide, and a great many precious metals investors are anticipating rising gold spot prices in the very near future. The vast majority of these investors are purchasing rare gold coins like Double Eagles, for long-term financial protection. They are diversifying their long-term rare coin holdings with much more affordable bullion items like modern American Eagle $50 gold coins, which contain a full troy-ounce of pure gold. Double Eagles are rare, $20 Lady Liberty, and $20 Saint Gaudens, 22-karat gold coins, and prospective investors are encouraged to research their proven, long-term financial benefits. They are then encouraged to contact one of our friendly specialists, who offer institutional discounts on American Eagle Bullion, and Double Eagle rare gold coin, to household investors like you.
Vic Fox
