The Jewelers and Loan Co., Quincy MA | Gold Price

Gold Price

Today’s current spot gold price Cash For Gold

The Gold Spot price chart is live right here to the left; along with Silver Spot Price, Platinum Spot Price, & Palladium Spot price.  If you are looking for a gold jewelry store or gold pawn shop near you that buys gold on today’s spot gold prices, we can assist. Selling gold isn’t always as straightforward as it seems. Before looking at selling your specific gold jewelry, gold bullion, gold wristwatch, gold bracelet, gold chain, gold pendant, or broken/ unwanted earrings, to determine its value—you need to know the value of the gold itself, by first knowing what the current up to date gold spot price is at the time you wish to sell.

The current market gold spot price fluctuates daily. The Monday through Friday trading of gold future contracts and physical gold helps establish the Daily Gold Spot Price.  The gold market spot price provides the foundation all over Massachusetts and the world for the cash and check prices paid out by jewelers, pawn shops, pawnbrokers and gold buyers every day. It is the current daily, spot-gold price that sets the pricing for the second-hand gold market.

Free Daily Gold Spot Price Calculator

 

Find out how much your gold jewelry is worth and check out What We Buy for Cash is worth, based on the gold spot price today! Some simple tips and facts are listed below to understand how precious metal pricing is determined

Can I use my bathroom or scale bought at the store to weigh my gold jewelry? Yes, but you should know what type of scale you purchased.

One Troy Ounce Vs. Avoirdupois Ounce

A Troy ounce unit of measure is for precious metals.

Avoirdupois is for dry goods like food or grain.

  • 1 Troy Ounce = 31.1035 grams
  • 1 Avoirdupois Ounce = 28.3495 grams

To keep things simple, remember that one Ounce of metal is heavier than one ounce of food.

Gold Spot Price is $1,332.21 per troy ounce and my gold jewelry weighs one troy ounce. Why Am I not getting $1,332.21?

The purity of the commonly purchased gold jewelry in the US is 14k. Using 14k as an example; 14K is 58.5% pure gold or $773.49 per troy ounce based on the current spot price example of $1,332.21.   The remaining 41.5% is silver, zinc, copper, and nickel.

What is a DWT Pennyweight? Why not use Grams for Gold Spot Price Calculation?

DWT or Pennyweight is easier math. 20dwt = 1 Troy Ounce.  If you want to use Grams, 31.1 g = 1 Troy Ounce. It is the same value in both instances. Please visit our Sell for Cash or Borrow Short Term Pawn page for clients interested in either selling for cash or borrowing short term.  Jewelers and pawnbrokers all use the daily Gold Spot Price to determine what the market price is for gold, silver, and platinum.

 

What Factors Influence the Gold Spot Price and is Now a good time to Sell?

A complicated topic, and it’s difficult to fully understand how the gold price is impacted each and every day. Jewelry demand in China, India, Europe, and the Middle East along with industrial demand influence the movement in the price. Other influential factors in price include investment demand, the VIX Index, mining production and consumption, population growth, eal interest rates vs. nominal interest rates, political climate, consumer confidence, S&P 500 Index, and currency fluctuations.  Some good charts to take a look at are the relationship between gold/silver/platinum vs. 10 Year Treasury Yield, and volume of gold eagles sold.