Q:

How do you determine the daily value of gold per ounce?

A:

Quick Answer

You can quickly determine the daily price of gold per ounce by visiting TheStockMarketWatch.com. This site provides a variety information about the value of gold including its current price as of the close of business and the change from the previous day. Highs and lows are also displayed.

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How do you determine the daily value of gold per ounce?
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Full Answer

When examining the commodity information presented on TheStockMarketWatch.com, you will notice that the daily value of gold listed as a Gold Spot price and Gold Futures, or COMEX, price. Gold Spot refers to the actual fluctuating price of the metal in U.S. dollars. This figure is based on supply and demand, meaning that a higher demand results in a higher price per ounce. The Gold Spot is the price bouillon sellers are charging for gold coins or bars at any given time during a day. Contrarily, COMEX prices are determined with the spot price. These future projections are the expected value of the commodity over a given time-frame, like five days into the future.

The price of gold is measured in troy ounces. This weighing system for metals dates back to the Middle Ages in Troyes, France, according to Investopedia.com. A troy ounce amounts to 31.1034768 grams. A pound.is 14.58 troy ounce.

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