Comprehensive Spot Price Guide

Whether you are a seasoned bullion investor or selling a single gold chain for the first time, understanding how spot prices dictate value is crucial to securing the highest payout.

What is the Spot Price?

The Spot Price is the current, live market price at which one troy ounce of a pure precious metal can be bought or sold for immediate delivery. This price acts as the global benchmark and is actively traded 24 hours a day, Monday through Friday, across various international exchanges like global commodities exchanges.

Spot Price vs. Melt Value

While the spot price refers to pure 24K gold, most jewelry is alloyed with other metals to increase durability. Melt value refers to the absolute raw value of the precious metal contained within an item, based on the current spot price, without factoring in any premiums for design, brand, or numismatic rarity.

To find the melt value of your item, follow this simple formula:

• Step 1: Determine the total weight of the item (usually in grams, pennyweights, or troy ounces).
• Step 2: Determine the purity percentage (e.g., 14K gold is 58.3% pure).
• Step 3: Multiply the weight by the purity percentage, and then by the live spot price.

At Glister Gold, we pride ourselves on absolute transparency. Learn more about our industry-leading Price Match Guarantee and check our live buying prices.