Gold Spot Prices

Gold had a slight downturn today thanks to an “upsurge” in confidence in the Dollar.  That’s not likely to last long, so while the spot price on gold has steadily (though only slightly) dropped today, it will be going back up soon enough, most analysts agree.  Gold spot prices today are at 953.50/ounce at New York’s gold price.  This is important to note for the Coin Blogger reader, even collectors.

The thirty day gold spot prices have been on the rise dramatically.  At their lowest, the spot price on gold was at about $885 in the past 30 days and now is over $950.

The sixty day spot prices on gold trends are the same, though in March gold was at an earlier high of about $940.  Like any long-term investment, the longer trend of gains is what matters here and gold is performing well in that regard.

Speaking of long term, the spot price on gold a year ago was about $920 and peaked in February at just under $1,000 and is again on a general rising trend.  The five year trend is definitely rising in a big way.  The gold price in 2004 was about $400/ounce and is now well over double that and still appears to be on a continued long-term gold spot prices upward trend.

For the coin collector, of course, the spot price on gold also directly affects the value of a given gold coin.  Even plated or heavily alloyed coins will have their price affected by current spot prices on gold.  Many of us at Coin Blogger have seen our collectible coins suddenly jump in value thanks almost exclusively to gold price trends rather than the other factors in the collectibles markets.

We’ll keep you updated on the gold spot prices as they continue, of course.

Of course, we are not investment brokers or analysts and cannot give investment advice, but we endeavor to provide the information you need to make your decisions when purchasing collectibles or bullion.

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