Some effective methods of investing in gold include doing so through exchange-traded-funds, closed-end funds, single stocks, gold coins and gold jewelry, reports the CNBC website. Gold is a precious metal that analysts compare against other investment options, reports the Houston Chronicle.
While many factors determine if an investment is good or bad, gold, silver and other precious metals are too volatile for most investors, particularly retirees, according to AARP. It is an emotional form of money, but it does not produce anything.
COMEX, the New York futures market for gold and other precious metals, is listed on many business and financial websites, including CNN Money, Bloomberg and NASDAQ. Since gold is a commodity future, it can be followed on most sites that track the stock market.
The current price of gold can be found in the commodities sections of CNN Money, Reuters, the Financial Times and the Wall Street Journal. Prices are typically listed in troy ounces.
Investment experts recommend investing in gold through a variety of avenues, including exchange traded funds, shares of mining companies, futures contracts and derivatives contracts. Some simply purchase and store gold itself. Each of these strategies comes with unique benefits and risks that are no
Factors that influence the price of gold are inflation, supply and demand, global crisis, interest rates, and the value of the American dollar. The jewelry industry also plays a major role in influencing the price of gold around the globe, explains Scottsdale Bullion and Coin.
As of 2015, The London Gold Market Fixing Ltd. sets the current price of gold. This is a twice daily occurrence, except for Christmas Eve and New Year's Eve, when it occurs in the morning only.
A number of underlying factors support gold price fluctuation, but the primary reason for constant changes is that gold and gold derivatives are traded daily on several exchanges, according to Fink's Jewelers. Investors base buy and sell decisions on relative supply and demand factors of gold.
A few sources for online gold prices include JMBullion.com, GoldPrice.org and Kitco.com. Each source displays its prices by the ounce, is updated several times a day, except for Kitco.com, and uses factual charts to display the rise and fall of gold prices over time.
There are tables and charts of current gold prices at GoldPrice.org. Gold Price updates every ten seconds and provides price figures by the kilogram and by the ounce. The site's charts are adjustable, allowing users to view prices in 50 different currencies. Gold Price provides historic price data f