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Ounce Gram
Gold £1219.93 £39.222
Silver £18.268 £0.5873

Updated 00:54 09/03/21

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Commodity Market


Gold, unlike virtually every other commodity, has a value far beyond its applications in industry. You can track the current and historical prices of gold and other precious metals in Pounds, US dollars and Euros on our Price Chart pages.

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What is a commodity?

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Commodities, such as gold and other precious metals, are goods or services that can be exchanged for other commodities and are described as being 'fungible'. Fungible means that each unit of a commodity is exactly like every other unit. For example, every gram of pure gold can be substituted for every other gram of pure gold. Who has produced the gold is of no importance and gold from many producers can be mixed together. This means that the price for gold at anytime and anywhere is the same for all producers. Therefore, producers cannot set a price and must take whatever price the market offers.

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Commodities with an almost infinite lifespan, such as gold and oil, are described as hard commodities, whilst degradable products such as wheat, coffee, cocoa, fruit and sugar are described as soft commodities.

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Commodity prices

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Commodity prices are governed by supply and demand. The demand for precious metals is driven partly by their industrial uses but more by their investment value. Since the dawn of time, because of its scarcity, gold has been used as a store of wealth and a medium for trade. Gold can diversify an investors' portfolio, offer a hedge against other investments and be a ‘
safe haven ’ in times of failing markets. Over history, when other investments have failed, gold has held or even increased in value. For this reason gold has an exceptionally high value on the commodities markets.

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Commodity trading

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The fundamental price of bullion gold for trading is set by the markets, but final price to investors will include other additional costs over and above the commodity price. There are refiner charges for manufacturing the metal into a various forms, such as coins or bars, as well as taxes and handling costs to be accounted for. In addition, all bullion dealers work at a margin: selling slightly over the market price and buying back slightly under in order to cover their operating costs.

Read more about gold investment in our Ultimate Guide to Gold Investment.

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Gold Bars

In Stock

from £46.70

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Gold Coins

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from £40.30

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Silver Bars

In Stock

from £8.28

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Silver Coins

In Stock

from £10.80

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