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Who decides what gold is worth? How gold prices are determined
The price of gold can be quoted in multiple forms because the precious metal is traded in different ways. The two main gold prices that investors should know about are spot prices and gold futures prices. The spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price. The spot price is lower than what you’d pay to buy gold coins, bullion, or jewelry, since your total price will include a markup called the gold premium that covers refining, marketing, dealer overhead, ... (full story)
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