The price of gold is always a hot topic, but never more than when we are in a financial market that doesn’t know which way to go. Since Joe Biden was elected President of the United States, there’s been uncertainty in the markets and many people are looking for the best gold rate in the US. Today I’ll share with you a bit about where you can find today’s gold rates, as well as share my knowledge of this esteemed precious metal.
Why is the Gold Rate So Important in the USA?
For starters, many people, especially wealthy, high net worth families, hold a lot of physical gold as a way to hedge against inflation. You’ve probably heard the term “the Gold Standard,” and out of the five main precious metals openly traded, gold is the largest market. Gold is also called monetary metals because of it’s use over time as a currency it’s viewed as a store of value. On the other hand, there are uses for gold as well since it’s a great conductor, less reactive than other metals, and it also doesn’t corrode. Obviously, we all know gold is used in a lot of different sizes of jewelry as well!
Subsequently, many people look up the gold rates in the USA, so let’s get into websites where you can find them:
Where to Get the Gold Price Today
Kitco is a great website that has the price of gold updating live right on their site. If you wish, you can create an account, buy and sell metals like coins and bullion, just within a few clicks. I highly recommend you check them out at KitCo.com.
Another place I have a bookmark at is GoldPrice.org. In addition to seeing today’s gold prices, you can also check out information on the prices of silver, gold stocks that are traded on the stock market, and now, more recently, cryptocurrency. They offer superior charts in my opinion, and this site also has a solid blog if you want to dive in deeper to understanding the gold markets and price historically.
What is Spot Gold?
If you want to buy gold today, the “spot gold price” is what the price is for immediate delivery. When you buy bullion coins you’ll almost always see these priced using spot. The market for spot gold is basically 24 hours per day as someone in the world is taking on gold transactions. You can find most of the trading activity in big markets like New York, Sydney, London, Hong Kong, Zurich, and Tokyo. In fact many people say “the spot market is open” when people in these cities are actively trading. Whenever you see gold spot prices quoted in the high’s and low’s, those are the highest and lowest bids made for the day.
How Can You Invest in Today’s Gold Rate?
If you want to buy gold TODAY, there are places that can help you. If you want to accumulate it long term, the best way to do this is by executing a gold 401k or IRA rollover. This process allows you to use money you are saving for retirement and legally purchase gold and silver while also avoiding taxation. It’s one of the best retirement loopholes out there today, and there are many savvy investors taking advantage of this opportunity.
This information hopefully helps you find out about the gold rate today, as well as the spot price. This is not financial advice, so please talk to your local professional before investing in gold or any commodity.