Q:

Where can you find the value of a one-ounce gold bar?

A:

Quick Answer

The value of a 1-ounce gold bar is available on websites that provide gold research and analysis, such as USAGold.com and GoldPrice.org. The value of gold bars varies with the spot price of gold but also with the country of origin.

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Where can you find the value of a one-ounce gold bar?
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Full Answer

The value of a 1-ounce gold bar is typically equal to or greater than the spot price of gold on any given day. The most recognized source for the spot price of gold is the Commodity Exchange, know as COMEX, which is located in New York. Since gold is a traded commodity, its value can be determined based on futures trading. The COMEX spot price is based on trading 100 troy ounces. To determine the value of an ounce, divide the COMEX price by 100.

Gold can be purchased directly from COMEX, but the process is relatively involved. Many gold buyers typically purchase from a mint or a dealer who charges an additional premium of about 2 to 7 percent. The premium is comprised of shipping, insurance, manufacturing costs and profit for the dealer. Some states also charge a sales tax.

There are essentially two types of gold bars: minted and cast. Cast bars are made from melted gold poured into a mold. Minted bars are stamped out from strips of gold. The purity of gold bars is often noted as 99.99 percent.

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