The price of gold does not remain static. Though it is a well-known hedge against currency inflation, there is no way to be certain about what the price of gold will do in the future. Gold prices change by the second. This may come as a surprise to you, but there is no single authority on the best website for Gold prices, or the best website for silver prices.
Still, we know that one of the most important questions, especially if you are buying gold on the regular is what is the best website for gold prices? In that respect, we have put down our top 5 best websites for gold prices below. We have also gone ahead and followed that up with some key points to take into account.
These venerable organizations are the ones who really set the prices. Obviously, however, nothing is simple. The LBMA prices are based on half-second auctions of massive amounts of gold and silver between "market makers" to set the prices. COMEX, one the other hand focuses on actively futures contracts that constantly trade to determine prices.
2. Bloomberg is a great source for commodities prices, generally. It is also the source most traders use, and one of the only fully licensed distributors of both LBMA and COMEX prices.
3. Our third pick for the best website for gold prices is The Bullion Desk.They do a great job of putting together prices from several sources and have reliable prices.
There is never any randomness in the market. There are only factors that did not seem important at the time, but clearly came to be important later on.
One important metric to follow is the Central Banks orientation towards the USD. If history is to be our guide, the price of gold will increase when the Federal Reserve will raise interest rates. Another important metric we can be sure about is the demand for gold products – whether for private ownership in India or manufacturing in North America.
Usually a bullish run is sparked by interest rates. Once the Feds raise interest rates, thus affecting the value of USD, gold investors take action. It’s essentially a domino effect triggered by the Feds, extending to investor behavior and a whole host of consumer behavior shifts, before concluding with a hike in gold prices.
Given gold’s naturally fluctuating tendencies, the onus is on you (as an informed investor) to keep track of daily changes. Aside from the above benchmarks, the only thing we know is that gold will continue to be coveted. Follow along for information on the best gold information resources around today.
You can our pricing bar and charts at the bottom of this page to track daily price fluctuations. Our gold chart is easy to interpret and packed with daily fluctuations – all you have to do is scroll over the golden price chart to get the amount and the date. We do away with excess numbers and graphs because we know that one thing matters above all: the price of gold right now!
Other sites will overwhelm users with numbers and percentages all claiming to have the nugget of insight you need to understand the market. These overly-analytical sites make investing seem purely like a numbers game and that there is never a right time to invest because some chart makes the whole market look shaky.
As we mentioned above, you do not need to worry about that many numbers when checking the price of gold. Aside from the Federal interest rate, and the relative demand for gold products in markets like India, you should keep your eyes open for:
1. The Value of the USD. The more valuable the dollar, the less likely investors are to seek out gold. Anyone who lived through the 2008 recession knows what happens to Gold prices when the US Dollar goes down.
2. Supply. If more gold deposits enter the market, the price of gold will drop slightly. According to the World Gold Council, trends have been a decline in Gold production since 2016.
3. The Stock Index. Interest rate hikes affect the overall performance of the stock market, e.g. the S&P 500 Index. And while edging towards inflation may result in a response from the Feds, equity market performance and volatility are some of the strongest drivers of gold prices
4. National Economies. Historically, when a national economy is weak, investors turn to gold as a hedge against inflation. This can be ascribed to the fact that if all you money is in a collapsed currency, it is worth next to nothing.
As you can imagine, getting answers to these factors is not possible with just a few graphs. Once you know the price, it helps to get a thorough understanding of where gold is going by reading the best investment journals out there and tracking these key metrics.
Keep reading the Global Bullion News section for interesting developments and opinion.
You can also stay informed by paying attention to the broad business environment. A great place to start is the Wall Street Journal. The WSJ is a go-to for investors in all industries. It has some of the best journalists and expert op-ed writers in business. An in-depth article from the WSJ will provide plenty of data and analysis for you to use in making informed decisions on buying gold.
Having researched the market forces determining the price of gold, we hope you will be able to determine roughly when the stock will drop. When that happens, you can act with more confidence now that you’re well-informed on gold prices.
We would also like to throw Global Bullion Suppliers' hat in the race for the best website for gold prices. You can visit www.GlobalBullionSuppliers.com anytime. You will find today's Canadian and US Gold prices and you can act on them immediately. As you may have noticed, we provide up-to-the-minute changes in price for gold, silver, platinum, and palladium.