$1,000 in gold today: 7.3g in a 10g bar, 7.4g in a 100g bar
In short
- At 06:39 a.m. gold is $4,150 an ounce, or $133.41 a gram (HawkValue).
- $1,000 buys 7.32g in a 10g bar, 7.44g in a 1oz bar and 7.38g in a 100g bar at the cheapest dealers. At the spot price it would be 7.50g.
- Sell back at once and every $1,000 returns $891–$942, so gold has to rise 6.2–12.2% to break even.
At 06:39 a.m. gold is $4,150 an ounce, and $1,000 buys about 7.3–7.4 grams in a bar, against 7.5 grams at the spot price. The gap is premium and spread, and it depends on what you buy.
What happened
Gold keeps climbing: $3,940 an ounce on 3 November, $4,073 on 4 November and $4,150 at 06:39 a.m. today, up 5.3% in two days. Silver is $53.09.
A bar or a coin trades at a different price from the metal in it. Cheapest listed offers (dealer prices at 04:49 a.m., compared with spot at 06:39 a.m.): 10g bar at BGASC $1,365.69, 2.37% over the $1,334 gold value; 1oz bar at Gainesville Coins $4,183.29, 0.81% over the $4,150 gold value; 100g bar at SD Bullion $13,542.56, 1.51% over the $13,341 gold value; American Eagle 1oz coin at Gainesville Coins $4,226.02 (1.84%); Britannia 1oz coin at Hero Bullion $4,218.62 (1.66%).
The other side is buy-back. The cheapest sellers here do not all publish a buy-back price, so the spreads below come from the dealers that do. 10g bar: SD Bullion buys at $1,232.76 against a selling price of $1,383.62 (gap $150.86, 10.90%); 1oz bar: Hero Bullion buys at $3,976.23 against a selling price of $4,222.83 (gap $246.60, 5.84%); Britannia 1oz coin: SD Bullion buys at $3,952.14 against a selling price of $4,220.85 (gap $268.71, 6.37%); American Eagle 1oz coin: BGASC buys at $4,091.74 against a selling price of $4,369.57 (gap $277.83, 6.36%).
What it means for you
The maths: at the spot price $1,000 would be 7.50g. In a 10g bar from BGASC you get 7.32g, so about $23 of the money goes in premium. In a 100g bar from SD Bullion it is about $15.
Sell back at once at those dealers and $1,000 returns as $891 (10g bar), $942 (1oz bar), $936 (Britannia 1oz coin), $936 (American Eagle 1oz coin). To break even, gold has to rise 12.2% for the 10g bar, 6.2% for the 1oz bar, 6.8% for the Britannia 1oz coin, 6.8% for the American Eagle 1oz coin.
For comparison, gold rose 5.3% over the last two days, which is below every break-even figure above. Someone buying today starts from these prices, not from the lower ones of 3 November. Prices can fall back as fast as they rose. This is arithmetic on the offers at 04:49 a.m., not a forecast.
See also: gold prices in $ and the gold calculator.
Bottom line
The bigger the bar, the less you pay per gram over spot. Buy-back gaps vary more by dealer than by size, so compare both prices before you decide. What suits you depends on the amount and on how fast you may need the cash.
Sources: HawkValue data: spot gold at 06:39 a.m.; dealer offers (BGASC, Gainesville Coins, SD Bullion, Hero Bullion) at 04:49 a.m.
Gold prices at US dealers live →
For information only. This is not investment advice.
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