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Gold prices are sometimes referred to as world gold prices, New York gold prices, spot gold prices, gold market prices and gold bullion prices. These prices are indications of the current trading prices for one troy ounce of gold on the various world exchanges.
The price used in the gold price charts on GOLDPRICE.ORG is the 24 hour Spot Gold Bid Price (New York, London, Hong Kong and Sydney) This price is quoted in US dollars. Where the gold price is displayed in currencies other than the US dollar, it is converted into the local currency.
Like all prices, the gold price reflects not only the inherent value of gold, but also the relative strength of the currency in which it is quoted. For example, the dollar price of gold may increase more in percentage terms than the Euro price of gold, to the extent that the change in price is a reflection of dollar weakness (in this case, against Euros) rather than an intrinsic change in gold market fundamentals.
GOLDPRICE.ORG gold price charts are updated every 1 minutes our live gold price charts update every 20 seconds.