Same gold bar, different dealer: up to £210 apart on 100g
In short
- The same 100g gold bar costs £10,104.90 at the cheapest dealer and £10,315.00 at the dearest: a £210 gap.
- A 10g bar ranges from £1,032.75 to £1,154.94; a 1 oz bar from £3,153.73 to £3,229.00.
- The cheapest 100g bar is 1.9% over spot; the cheapest 10g bar is 4.2% over spot.
The same gold bar can cost up to 11.8% more at one dealer than at another. Before you buy, compare not just the weight but how far above the spot price you are paying.
What happened
Gold is up about 1.3% this morning. According to HawkValue data at 06:42 Sofia time, spot is £3,083 an ounce, or about £99.13 a gram. Anything above that is the dealer’s premium.
A 10g bar is worth about £991 at spot. The cheapest dealer, Chards, asks £1,032.75, which is 4.2% over spot. The dearest, Physical Gold, asks £1,154.94, or 16.5% over. The gap is £122.
A 100g bar is worth about £9,913 at spot. Chards has it at £10,104.90 (1.9% over spot); Gold.co.uk asks £10,315.00 (4.1% over). The gap is £210.
A 1 oz (31.1g) bar runs from £3,153.73 at Chards (2.3% over spot) to £3,229.00 at The Royal Mint, a gap of £75. Prices are as of 06:42 and can change during the day.
What it means for you
A bigger bar usually carries a smaller premium per gram. The dealer gap is large at every size, though.
The maths: £1,000 buys 9.68g at the cheapest 10g bar (Chards, £1,032.75) and 8.66g at the dearest (Physical Gold, £1,154.94). The difference is 1.02g, about £100 at spot, purely from the choice of dealer. On a 100g bar the same £1,000 equals 9.90g at the cheapest dealer and 9.69g at the dearest.
Compare all dealers on our UK gold prices page or use the gold calculator.
Bottom line
With gold, the dealer you pick is part of the price. At 06:42 the gap between the cheapest and dearest listing for the same bar is between 2.1% (100g) and 11.8% (10g). The figures come from HawkValue and refresh during the day.
Sources: Dealer prices, HawkValue · Investing.com (gold move)
Gold prices at UK dealers live →
For information only. This is not investment advice.
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