I love being informed. Information is very important, especially when making a huge purchasing decision.
I do not like to make big decisions unless I have all the information I need about a product. In gathering information, I like to have reliable resources I can refer to before I make a major purchasing decision.
When trading, information is critically important, especially when you are putting hard-earned money on the line. Having information available at our convenience can help us make decisions or give us the confidence needed to do so, especially when making a large and important purchasing decision.
Daily Spot Prices: Why They Are Important To You.
We clamor for information. We want the most recent, up to date information. Those who are active traders need reliable and precise data they can use to make decisions.
This is where the daily spot prices come in.
Spot prices can be found in two formats.
- Daily, 24-hour period charts.
- Numbers, which can be seen on quotes.
I will discuss the number quotes at a later time. For now, I am going to focus on pricing charts. These charts are accessible on many websites. I can go into the features of all the websites that are on Google, but it would make this a very long and boring post.
So I am going to narrow it down to my three favorite websites. Not only do they have dynamic charts, but their charts are interactive with the user. You can refer to them and change time frames and dates in order for you to make better decisions when buying gold and other precious metals.
The World Gold Council: The Official Say… With News!
My favorite website for spot prices is the World Gold Council. They are a good source of *official* information on the price of gold and the day-to-day movement of the metal.
The website not only displays a price action chart, but even price action points for gold prices at ANY point of time during the day.
On the World Gold Council’s website, you find news that relates to gold prices. Their website is handy for any investor who not only wants current prices for gold, but also wants links to relevant news articles.
The World Gold Council’s Website has an easy and attractive website design. To pull up the daily pricing chart, just click the “Gold Spot Price” on the upper-left hand of the website. You can click the box where it says “USD” with a downward arrow icon next to it.
You see pricing chart that records the price and price action of gold to the selected currency. The price action on the chart is measured in 3-minute increments.
It is a great website if you want the most current pricing information on gold and a repository for news on gold prices. However, keep in mind that the World Gold Council’s website only shows information for gold. It is valuable resource for those who are focused on gold buying and want information from an authoritative source.
Gold Price – The Website That Speaks For Itself
As the name suggests, it is a place where you can look the price of gold on any given day, on any given minute. Gold Price is another nifty website and source of information you can use to find the daily spot price of gold!
However, a neat feature of this website is that it does not only have the price for gold, but other metals too!
On Gold Price, you can check out prices for gold, silver, platinum, and palladium. It is a good source of information for buyers and investors who want information for the different kinds of precious metals.
On the Gold Price website, the spot prices for gold, silver, platinum, and palladium are already available for you on their home page.
From there, you can select the currency you want to the price of a metal to be quoted in on the left drag-down menu. The quantity you want prices for is found on the right drag-down menu of each of the precious metals boxes.
You can also go into pages specific to gold, silver, platinum, or palladium. There is a beige colored box below the boxes for each of metals. Links are also found in the drop-down tabs at the very top of the home page (below the price ticker).
Gold Price is a great and simple website, the does not have too many bells and whistles. I would strongly recommend this website for beginners and casual metal investors for it’s simpler design and layout.
Kitco – Another Treasure Trove Of Information
Kitco is another company that has pricing charts available to buyers and investors. Like Gold Price, Kitco has pricing information for not only gold, but silver, platinum, palladium, as well as rhodium.
You can find information for all precious metals under the “All Metals Quotes” tab from the home page.
On that page, you can look at quotes for the different metals listed. There will be a date and time (keep in mind that the time it is going by 24-hour military time), the bid and ask prices, the percent change in prices. The last two columns are the daily high and low prices.
There are different markets you can refer to. The New York Spot Market, the World Spot Prices (which takes in consideration Asia, Europe, and New York) and Historical London Fix Prices.
Without going too much into detail, I will say it is another great site for gold prices for today.
They Are Great Resources To Start Out With!
These websites are extremely useful sources of information on gold prices. There are many websites out there, but I wanted to narrow it down to my three favorites in order to make your Google hunt easier for you.
I chose these websites for their authoritativeness, their utility, and their design. You can also Google them using keywords like “gold price” or “spot gold price.”
That is not to say they are the only sources of information. You can even look at a FOREX chart to check out the prices of gold and other precious metals.
However, I like these three aforementioned websites because they have charts that will let you narrow down to a one-day time frame and look at the most precise information on metal prices.