Gold per gram: $131.89 in a 1oz bar, $134.48 in a 10g bar
In short
- Gold’s spot price at 06:45 is $4,074.90 an ounce, or $131.01 a gram (Friday close, +4.5% on the week).
- In the US the cheapest gram in stock is in a 1oz bar at Gainesville Coins: $131.89, or 0.7% over spot. A 10g bar costs $134.48 a gram at Summit Metals, 2.7% over spot.
- $1,000 buys 7.58g in a 1oz bar against 7.44g in a 10g bar.
The smallest bar is the priciest per gram, but the cheapest size in the US is a 1oz bar, not the biggest bar. A 100g bar from SD Bullion is $133.14 a gram, 1.6% over spot.
What happened
The data is from the site at 06:45 on Sunday. The spot price is Friday’s close: $4,074.90 an ounce, or $131.01 a gram. Gold is up 4.5% on the week, from $3,898.91 on 30 October. Dealers sell above spot, and the difference is their premium.
Here is the cheapest in-stock offer for each size. A 10g bar at Summit Metals is $1,344.83, or $134.48 a gram (2.7% over spot). A 1oz (31.1g) bar at Gainesville Coins is $4,102.31, or $131.89 a gram (0.7%). A 100g bar at SD Bullion is $13,314.45, or $133.14 a gram (1.6%).
Coins sit close to the bars. A 1oz American Eagle at Gainesville Coins is $4,143.60, or $133.22 a gram (1.7% over spot), about $41 an ounce more than the bar from the same dealer.
So the premium does not fall in a straight line in the US. It is 2.7% at 10g, 0.7% at 1oz and 1.6% at 100g, because dealers price each product on its own.
What it means for you
In practice this is how many grams the same money buys. The maths: at spot, $1,000 would buy 7.63g of gold. In a 1oz bar you get 7.58g, in a 100g bar 7.51g, in an American Eagle 7.51g and in a 10g bar 7.44g. The gap between the best and worst of these is 0.14g, about $18 of metal for every $1,000.
In money: on a $1,000 purchase in a 10g bar about $26 is premium over spot, against about $7 in a 1oz bar and about $16 in a 100g bar. The week’s 4.5% rise in gold is about $45 per $1,000, more than any of these premiums.
Dealers also quote a lower buy-back price. It is not in this sum, but you can see it on the US gold prices page. For the break-even maths see our 7 November analysis.
Bottom line
In the US the cheapest gram is in a 1oz bar, at 0.7% over spot; the 10g bar is the priciest at 2.7%. Prices are from 06:45 on Sunday and can change on Monday with the market and dealer stock.
Sources: HawkValue – US gold prices · FMV Gold
Gold prices at US dealers live →
For information only. This is not investment advice.
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