It is best to buy gold when the price per ounce is the lowest. In January and February 2015, gold prices per ounce ranged from $1,000 to $1,200. The average price per ounce in January 2005 was $420.
Individuals can purchase gold bars, coins or bullion from major gold brokers who sell gold in their branches, online or over the phone. Forbes recommends buying gold from a well-established dealer, such as The Tulving Company.
The U.S. Mint publishes a list of dealers by state, according to Kiplinger. The U.S. Mint checks the Better Business Bureau for online complaints against the companies on the list, but it does not vouch for any of them.
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.
A good place to buy and sell gold is at the shop of a reputable gold dealer or jeweler, according to Bankrate. This method of purchasing and selling gold tends to give the average person the best price for items.
Gold is a chemical element. Its symbol on the periodic table is Au, and it is classified as a transition metal. It has an atomic number of 79, which is one of the higher atomic numbers of elements that occur naturally.
The most effective way to tell if a ring is real gold is to take it to a jeweler for inspection. There are also some simple tests that can be done at home.
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.
Gold is a mineral and was one of the first used by prehistoric cultures. It is appreciated for its physical appearance, its workability and its ability to withstand chemicals.
Buy an ounce of gold by purchasing it from a reputable dealer such as JM Bullion, Northwest Territorial Mint or USA Gold. Reputable dealers have different methods for selling gold online or over the phone, and these three vendors sell gold in weights of 1 ounce or more.