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In this video, I’ll show you how to find the gold price today, track and analyse its performance and then exploit any themes and strategies to invest over the medium to long term.
The simplest and quickest way to track the gold price right now is to look at the top of our website. The price is updated every 60 seconds and displayed in both ounces and grams. An alternative would be to download a gold app like Kitco to your phone so you can track prices on the move.
It’s important to understand that this is the benchmark price, not necessarily the exact price at which you can buy and sell gold. If you want to learn more about how the gold price works, be sure to checkout out our other video ‘Understanding the gold price’.
If you want to dive a bit deeper, then our Gold Price Chart page features an interactive historical price graph and explains the gold price in detail, including;
If you want to invest in gold, be sure to study this page first.
So now we know the gold price, how can we profit over the medium to long term
Over the short term, the gold price can be volatile. Try to buy your gold on a dip day, when the price is lower, rather than when the price has moved higher. This may only be a slight difference, but every little bit helps improve profits.
Looking at historical price charts will help you understand where the current gold price is in a historical context. Right now, we can see the price is still way below its all-time high of 2011/12. Buying during the quieter times when the price is relatively low has proven to produce the best long term profits time and again.
Rather than trying to trade the gold market, or predicting price movements, a good strategy is to see gold as a long term protection. Its safe haven status means that regardless of the current gold price if stock markets and paper currency devalue, gold tends to rise in worth. This means, your overall wealth is protected from nasty market downturns.
With low interest rates, bank savings rates are also low, usually lower than inflation itself. This can mean that leaving money in the bank actually devalues every day it’s sat there. Gold has shown to outperform inflation over the long term, appealing to those seeking a store of wealth.
An alternative strategy overcomes the need to really look at the gold price at all. Buying gold on a regular basis can average out the cost of gold so that when the price falls, you buy at the lower level. This approach appeals to those with limited capital to invest, but like the idea of gradually building up a gold holding, perhaps on a monthly basis. We offer a simple solution to achieve this with our Gold Monthly Saver, which starts from only £250/month.
So there you go. Start by doing some research on the gold price, understand how it works, and take a look at historical performance. Then grab one of our 3 strategies and invest away!
I hope you’ve found today’s video helpful. If so, please make sure you also check out our full catalogue of video guides covering everything you need to know about gold and silver.
If you’re looking to buy gold coins and bars at competitive prices, then take a look at Physical Gold’s online store. We’re able to offer gold at rock bottom prices, updated every 60 seconds with the live gold price. Quantity discounts are displayed online so you can decide the most economical way of buying.
If you need guidance on the buying process, or simply need help on which gold coins or bars to buy, then our friendly team are here to help. You can call on 020 7060 9992, engage on live chat from the website or leave us a message here.
Daniel Fisher formed physical Gold in 2008, after working in the financial industry for 20 years. He spent much of that time working within the new issue fixed income business at a top tier US bank. In this role, he traded a large book of fixed income securities, raised capital for some of the largest government, financial, and corporate institutions in the world and advised the leading global institutional investors. Daniel is CeFA registered and is a member of the Institute of Financial Planning.