Gold price today - Current gold spot price

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About
Gold price per ounce
People have known gold since ancient times, this noble metal was one of the first to be discovered, it has always been a means of payment and decoration. Until now, gold is used in various fields, and no one disputes its value.
History of gold
In the Bronze Age, gold was mined in ancient Egypt and Mesopotamia. Items made of precious metal were found in the excavations of the royal tomb, dated to the third millennium BC. In the era of antiquity, it was believed that metal is a combination of water and the sun. Since that time, gold has become a symbol of wealth, jewelry and luxury items were made from it.
Many times in the history of mankind, gold has been the cause of wars of conquest. So, the campaigns of Alexander the Great in the 4th century BC were dictated by the desire to seize the gold reserves of Persia. At the beginning of the 3rd century BC, the Second Punic War (also called the "war against Hannibal" by the Romans) with Carthage opened Rome's access to deposits in Spain.
Each time the discovery of large gold-bearing veins led to a gold rush, changed the economy of the regions and the whole world. In Brazil, gold began to be mined at the beginning of the 18th century, the country very quickly increased production and became the world's main supplier. Thanks to an avalanche of gold miners from Brazil, the rapid development of South America began.
In the middle of the 19th century, a deposit was discovered in California. According to historians, this event was an important factor in the creation of the United States. Around this time, settlers began to arrive at the gold mines in Australia. But the real boom broke out in 1896 after the discovery of large reserves of gold near the Yukon River. Since then, the Klondike has become a household name and the personification of the gold rush. Ten years later, when gold was found in South Africa, it was mined not by individual miners and artels, but by corporations.
Interesting facts
More than a quarter of gold jewelry is sold in India. This country ranks first in the consumption of the precious metal, followed by China and the United States.
In the text of the Bible, gold is mentioned more than four hundred times.
The myth of the golden fleece originated from an ancient mining method. The Egyptians used sheared sheepskins to separate grains of gold from sea sand.
In the entire history of civilization, people have mined approximately 161 tons of gold. Almost half of the reserves come from the South African Witwatersrand (Witwatersrand, "White Water Ridge"). Industrial mining in the world began in 1910. Presumably, 80% of the metal remains in the bowels of the planet.
90% of the mined gold went to the manufacture of jewelry and ingots. Only 10% of the world's gold production provides for the needs of the industry.
A troy ounce is equal to 31.1034768 grams. The name comes from the French city of Troyes, in which a system of precious metals and stones was created. One ounce of this malleable metal can be stretched into a thread 8 kilometers long.
The largest Welcome Stranger nugget was found in Australia in 1869. Its weight was 72 kg and there was a treasure at a depth of five centimeters.
A quarter of the world's gold reserves are held by the Federal Reserve Bank of New York. Most of the bars belong to foreign countries.
The value of gold has long been an axiom - this metal occupies a worthy place in exchange trading. When choosing a tool for investment, do not forget about the eternal metal - it will not let you down.
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Gold price chart
Gold (Au, aurum) is a yellow-colored precious metal and a traditional exchange commodity.
Gold on the exchange
Gold on exchanges has a standard code - XAU. The main platforms where this metal is traded are London Metal Exchange (LME, London Metal Exchange) and New York Stock Exchange (NYSE, New York Stock Exchange). In circulation, mainly futures contracts with a price in troy ounces.
The price of gold in the summer of 2022 ranges from $1,809 to $1,875 per ounce. In addition to the ratio of supply and demand, the price is affected by the state of the economy in the world. Investors are considering gold as an alternative to foreign exchange investments.
Advice to investors
When investing in gold, prepare for a long wait. This tool brings profit over long and very long distances. Ingots and coins constitute patrimonial capital and are inherited. It is unprofitable to sell gold because of the difference in the purchase and sale prices, which level out only after a long period of time.
Buy coins and bars from trusted, reputable suppliers. It will not be superfluous to evaluate the quality of the metal.
Store the physical metal in a safe deposit box.
When choosing gold as an investment instrument, regularly invest part of your income in the metal.
The presence of gold in an investment portfolio increases its resistance to market stresses. But it is not necessary to invest all the money in the physical metal, the gold part of the portfolio can consist of exchange metal, physical gold, shares of gold mining companies and investment funds.
Follow the situation on the markets and adjust the content of the investment portfolio. With long-term investments, you can not track daily price fluctuations, but if they change or risks increase, review the composition of the portfolio. In the face of growing risks, it is recommended to increase the share of gold to 25-30%.
Experienced investors do not ignore gold - the asset does not promise a quick return, but it is very reliable in the long run. Take a closer look at this tool, perhaps you are destined to become the ancestor of big capital.
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