Gold’s value is continually shifting as it’s influenced by exchanges worldwide. GCIL Bullion tracks the price movements from some of the largest and most recognised markets, such as Comex, LBMA, Tocom, and the Shanghai Gold Exchange. Smaller exchanges in cities like Istanbul, Moscow, and Singapore also play a vital role in shaping the current price of gold.
Spot Price vs. LBMA Price: Understanding the difference is key to gold trading. Dealers often quote the spot price of gold, which is used for most transactions. It reflects the current market value and is constantly updated, while the LBMA gold price, which is issued twice daily, is typically used for larger, institutional trades. These fluctuations are much smaller, making it the benchmark for large-scale transactions.
The gold chart above displays the price for 24-carat gold, also known as 99.99% purity gold.
By default, the chart shows prices in troy ounces and GBP (Pounds Sterling).
A quick note: the troy ounce used in the gold market is slightly heavier than a regular ounce, weighing 31.103g (as compared to the 28.35g of a standard ounce).
The GCIL Bullion gold chart is perfect for investors wanting to track how gold prices have shifted over the past week. It displays not only the current market price of gold but also the high and low points for the week and the weekly change in price. These key indicators help investors decide the best time to buy or sell.
- The price of gold fluctuates Monday to Friday, closing between 22:00 – 23:00 GMT each day. The gold market is closed on weekends or bank holidays, and our chart reflects a flat line during these times.
- The chart also reflects the weekly movement of gold, showing both its highest and lowest prices. This helps investors visualise market trends and decide when to enter or exit the market.
Understanding these trends is crucial for gold investors. Whether you are a new investor or someone with an established portfolio, the GCIL Bullion gold price graph gives you real-time insights into the market.
Gold prices are known for their volatility, but you can maximise your investment potential by staying informed with up-to-date information.
You can always rely on our chart for accurate and transparent pricing, helping you make better decisions in the ever-changing gold market. If there is anything else we can help with, please do not hesitate to reach out to us.
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