Oct 26, 2016, 8:58 PM EST
Daily Close: Gold Price Per Ounce
The chart and table below show gold’s closing price per ounce over the past 10-days. Long-term gold charts and historical gold prices are archived on PMBull after the last close each month. The daily performance is based on the 5:00 PM EST close.
|Gold Close||Price / Ounce||Dollar Change||Percent Change|
Why Gold Spot Prices Differ Between Sites
Live Spot – There are no standards for reporting the current price of gold. The live spot gold price on most sites is obtained from feed providers that compile quotes from different contributors. The contributors are generally big bullion banks that report their current bid and ask in the spot market. Since different gold price quotes are obtained, the price feed services apply an algorithm to produce a live gold price quote.
Closing Prices – Gold prices can be derived from a variety of exchanges, each with different trading hours. Forex trades 24-hours with a one-hour break at 5:00 PM EST each day. Globex trading continues for an additional 15 minutes. The financial press has traditionally cited gold’s closing price at the end of futures trading on the Comex at 1:30 PM EST. Some web sites use the London Fix (now defunct) or simply midnight London time. With the introduction of physical gold trading in Shanghai, which has it’s own daily fix, it can be quite confusing as to what a daily closing price for gold actually means.
PMBull has previously reported closing prices based on the end of Globex trading at 5:15 PM EST, sometimes referred to as the New York close but has since moved to using the 5:00 PM pause for gold spot trading..
Bid, Ask and Midpoint – Gold spot prices can reflect a bid (like Kitco Gold Price Charts), ask (favored by retail gold dealers) or the mid-point between bid and ask. It would be more ideal if actual trades were reported. These different options contribute to the variation in gold price quotes across web sites and dealers.
PMBull uses the mid-point, while 3rd party gold spot price charts on PMBull use different price feeds and standards. Take comfort in knowing that the minor differences in gold pricing are virtually immaterial or insignificant to the average physical gold bullion buyer.
About PMBull’s Gold Prices and Charts
The price of gold on PMBull is derived from gold trading across New York, Europe and Asia. Gold charts on PMBull can be set to various time-frames, from one-minute to weekly. Gold traders may use the streaming charts with technical indicators, to watch action overseas and overnight. Physical gold buyers will find the charts helpful for keeping track of the price of gold, but may be less interested in the more esoteric indicators used by traders. PMBull displays a different chart to readers accessing the site from a mobile phone.
Your use of PMBull means that you have read and agree to our disclaimer and disclosure. Gold prices on PMBull are derived from 3rd party sources. While we believe that our charts do reflect a reasonable assessment of current, real-time gold prices, PMBull cannot guarantee the accuracy nor timeliness of data we display. Nothing on PMBull should be construed as a live quote. Data or charts on PMBull should not be used for investment or trading decisions. You should always consult with a broker or financial professional before investing in, or trading, gold bullion or gold price instruments.