The Price of Gold

January 16, 2021
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Welcome back to another entry of the Stewart Kuper Jewelers blog! As we start the new year, we want to focus our information on gold and diamond buying. Many people are looking to sell unwanted gold and diamond jewelry but they have a hard time knowing where to look! Well look no further, we have you covered.

What’s the Price of Gold?

The price of gold is constantly in flux. That’s why it is called  the ‘spot price’ of gold; it is the price ‘on the spot.’ This is the value, per troy ounce, that the gold markets around the world are operating at. It is based on speculation and changes every few seconds!

Wait, What’s a Troy Ounce?

Good question! A Troy ounce is a type of measurement only used in precious metals. It’s a bit heavier than a standard ounce. Troy ounces are equal to about 31 grams, while a standard ounce is equivalent to about 28 grams. 

Ok, So What’s the Price of Gold Right Now?

We can’t in good conscience give you the price of gold here in this blog because by the time you come to it looking for an answer it’ll be out of date. 

What Affects Gold Prices? How Do They Fluctuate?

Gold, like other precious metals and markets, fluctuate throughout the day based on whatever economic events are happening.  For instance, the value of the US dollar can impact gold prices. The number of buyers and sellers also has a direct influence on the spot price. 

Is the Price of Gold the Same Everywhere?

Yes it is! Gold is in a global market and so the spot price keeps the value of gold uniform across the world. Otherwise, there would be the potential for an ‘arbitrage opportunity’ to crop up. An arbitrage opportunity is just a fancy economic word for someone being able to immediately make risk free profit by buying low and selling high, you don’t need to worry about that.

So, Are You Looking to Sell?

At Stewart Kuper Jewelers we pride ourselves on our honesty and integrity. Whether you want to sell your unloved gold jewelry or have questions about the true value of your items, we will give you an honest answer, because that’s the only way we do business.

Our gold buying pricing is very fair, we do not play games. We evaluate your gold pieces and pay up to 80% of the spot gold market that day. We also buy gold and silver coins and pay extra for Diamonds ½ carat and larger and Estate items with gemstones that are re-sellable. Bring in all of your un-used and un-loved Gold, Diamond or Platinum jewelry for a free evaluation. 

You will be happily surprised by how much your gold jewelry is worth. Bring your items to Stewart Kuper Jewelers today.

Questions answered? Excellent! If not, don’t sweat it, we totally understand. There’s bound to be a question or two still floating around. In that case, give us a call and schedule your appointment today! You’ll sit down with an expert jeweler and a Master Gemologist Appraiser in Stewart Kuper who can help you understand everything you need when it comes to the price of gold, diamonds and selling.

You can rely on Stewart Kuper Jewelers, a trusted Tucson name.