The spot price is the most common standard used to gauge the going rate for a troy ounce of any precious metal. The price is driven by speculation in the markets, currency values, current events, and many other factors. Gold spot price is used as the basis for most bullion dealers to determine the exact price to charge for a specific coin or bar. These prices are calculated in troy ounces and change every couple of seconds during market hours.

The spot price of gold — or any commodity for that matter — represents the price at which the commodity may be exchanged and delivered upon now. This is in contrast to gold or commodity futures contracts, which specify a price for the commodity for a future delivery date.

Gold is a commodity that is traded all over the world, and as such, it trades across many different exchanges, such as Chicago, New York, Zurich, Hong Kong, and London. The COMEX, formerly part of the New York Mercantile Exchange and now part of the CME Group in Chicago, is the key exchange for determining the spot gold price. The spot gold price is calculated using data from the front month futures contract traded on the COMEX. If the front month contract has little to no volume, then the next delivery month with the most volume will be utilized.

Our up-to-the-minute spot price feed is compiled from the collective data of various reliable sources to ensure our spot prices are always as accurate and current as possible.

The gold spot price is the prevailing price for an ounce of .9999 fine gold that is deliverable right now. The spot price does not take into account dealer or distributor markups or markups by the minting or manufacturing company. Most of our inventory is purchased directly from the mint; those products are priced at the spot price plus a markup for the mint or maker to turn a profit.

The dealer then also has to make a profit in order to stay in business. The dealer will take their purchase price, then markup the products further to cover dealer costs and a profit margin. This is why dealers will typically buy from individuals at or below the spot gold price and they will sell above the spot gold price. The spread between their buy and sell prices represents the dealer's gross profit.

Gold is traded in U.S. dollars (USD) and is therefore quoted in USD. In areas outside of the U.S., the spot gold price is taken in USD and simply converted to local currency.

The price for an ounce of gold is the same all over the globe; otherwise, an arbitrage opportunity would exist. The world spot gold price is simply converted into local currencies to give market participants the price for 1 troy ounce of .9999 fine gold in their respective local currency.

With the help of our office mathematician, we have formulated a very complex formula that involves using the spot price and adding a premium and voilà!

Yes, all products that incur  GST are labeled as such along with any other taxes if applicable. However, you may be charged customs and duties charges once the parcel reaches its destination port, which must be paid by the recipient directly to the Customs Service or the authorized service provider. Jaggards is not responsible for and will not reimburse any of these charges and duties.

We do where we can, so if you see the same item cheaper elsewhere, let us know and we will do our best to match it.

Yes, as we are based in Australia and you are buying from an Australian company, all prices are in Australian dollars.

Gold is a commodity that can have very rapid price changes during periods of high volatility and can also have very little price movement during quiet periods of low volatility. There are many different things that can potentially affect the price of gold. These issues include but are not limited to: supply and demand, currency fluctuations, inflation risks, geopolitical risks, and asset allocations.

Gold is viewed by some as a "safe-haven" asset for it is one of the only assets with virtually no counter-party risks (gold requires no performance by outside entities to retain its value). This is why gold's value may potentially rise during times of economic instability or geopolitical uncertainty.

Gold spot prices change every few seconds during market hours and can fluctuate throughout the course of a day based on breaking news, supply and demand, and other macroeconomic factors. The gold spot price is determined by a variety of domestic and foreign exchanges, allowing the gold spot price to consistently update from 6PM EST to 5:15PM EST, Sunday to Friday (markets close from 5:15 PM to 6 PM EST each weekday). The changes in gold prices are due to supply/demand, as well as order flow and other factors.

Gold products, especially gold coins, are priced based on gold content and their collectability. The gold content is pretty straightforward. The collectability premium, however, is another animal. Gold coins with the same gold content may have wildly different market values based on such things as when or where they were minted, how many coins of that particular type were minted, what condition the coin is in, and more.

Just because a dealer is selling that coin for hundreds over the spot price does not necessarily mean that the dealer is making hundreds of dollars on the coin. The dealer likely paid several hundred dollars over the gold spot price for the coin, as well, and is now looking to sell it with his or her profit margin attached.

Dealers have procedures for locking in a specific price on gold products based on current price levels. These procedures may vary from dealer to dealer. If one is looking to buy gold and lock in a price, one method is for the buyer to lock that price in once he or she reaches their checkout page when making an online purchase.

At that time, the investor will typically have a specified amount of time to complete their purchase and lock their price in. The amount of time given may be fairly short, however, such as five minutes (as is the case with Jaggards). Dealers do this to try and protect themselves from rapidly changing prices.

Yes and no. Dealers may charge a fixed profit markup on certain products and they may have varying charges on other products. A simple gold bar, for example, may be sold by a dealer for $20 over the spot gold price, while a graded Double Eagle coin may sell for a premium at the dealer's discretion based on condition, scarcity, and other market factors.

The price of gold often exhibits a negative correlation to stocks. That is to say that yes, gold and equities usually move in opposite directions; however there are also times gold and stocks may both move in the same direction. Many consider gold to have little correlation to stocks and bonds, and therefore feel it can potentially be a wise investment to add to one's portfolio.

Yes. When you place an order over the telephone or online, we will send you an order confirmation email detailing what you purchased as well as your locked prices.

There are several gold bullion coins that have a face value. That is to say that they are considered good, legal tender in their respective country and could be used to make purchases just like cash. The fact is, however, that these coins are not often used to make purchases. They are worth more for their gold content than their face value.

Have you ever seen someone pay for items at the grocery store with a $100 Perth mint Kangaroo gold coin? Probably not. These coins, and others that carry a legal tender status, derive their value primarily from their bullion content.

Generally speaking, yes. While country conversion rates do have some impact on spot prices, the value of precious metals is universally ubiquitous. Many investors appreciate the worldwide value of metal bars and bullion, especially as a hedge against inflation and global unrest.

Not necessarily. Spot prices are reflections of how much you could make if you sold your gold or silver bullion immediately. However, the buyer in question might offer more or less depending on the quality and rarity of the coin. You’re welcome to bring your bullion to Jaggards’ Sydney showroom to get a personalized price.

Like many other investments on the Australian market, it’s a good idea to buy low and sell high to maximise your returns. You can use our spot price chart to make more informed decisions by identifying highs and lows in the marketplace. If you’re newer to precious metals and want more information about bars and bullion, you can refer to our glossary at any time.