Gold per gram: £100.00 in a 100g bar, £103.88 in a 10g bar
In short
- Gold’s spot price at 06:45 is £3,044.40 an ounce, or £97.88 a gram (Friday close, +4.6% on the week).
- The cheapest gram in stock is in a 100g bar at Chards: £100.00, or 2.2% over spot. A 10g bar costs £103.88 a gram at Baird & Co, 6.1% over spot.
- £1,000 buys 10.00g in a 100g bar against 9.63g in a 10g bar.
The bigger the bar, the cheaper the gram. Between 10g and 100g the gap is £3.88 a gram, about four points of premium over spot.
What happened
The data is from the site at 06:45 on Sunday. The spot price is Friday’s close: £3,044.40 an ounce, or £97.88 a gram. Gold is up 4.6% on the week, from £2,909.87 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 Baird & Co is £1,038.84, or £103.88 a gram (6.1% over spot). A 1oz (31.1g) bar at Chards is £3,120.87, or £100.34 a gram (2.5%). A 100g bar at Chards is £9,999.58, or £100.00 a gram (2.2%).
Coins sit close to the bars. A Sovereign, which holds 7.32g of gold, is £740.75 at Chards, or £101.19 a gram (3.4% over spot). A 1oz Britannia at Chards is £3,114.77, or £100.15 a gram (2.3%).
So the premium falls with size: 6.1% at 10g, 2.5% at 1oz, 2.2% at 100g. A 1oz Britannia and a 1oz bar cost almost the same per gram.
What it means for you
In practice this is how many grams the same money buys. The maths: at spot, £1,000 would buy 10.22g of gold. In a 100g bar you get 10.00g, in a 1oz bar 9.97g and in a 10g bar 9.63g. The gap between the smallest and largest bar is 0.37g, about £36 of metal for every £1,000.
In money: on a £1,000 purchase in a 10g bar about £58 is premium over spot, against about £21 in a 100g bar. The week’s 4.6% rise in gold is about £46 per £1,000, which is less than the 10g premium.
Dealers also quote a lower buy-back price. It is not in this sum, but you can see it on the UK gold prices page. For the break-even maths see our 7 November analysis.
Bottom line
The premium over spot shrinks as the bar gets bigger: 6.1% at 10g and 2.2% at 100g. Prices are from 06:45 on Sunday and can change on Monday with the market and dealer stock.
Sources: HawkValue – UK gold prices · FMV Gold
Gold prices at UK dealers live →
For information only. This is not investment advice.
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