How to track the gold price?

Gold is well known for its economic value , being considered a symbol of wealth .

Gold prices tend to rise when the economy is stagnant or when there are concerns about inflation.

If you want to dispose of gold pieces you have at home, you need to know the gold's purity —whether it's 9kt, 14kt, 18kt, 19.2kt, or 24kt. Whether it's gold rings, earrings, necklaces, or gold chains, it's necessary to have the piece examined for gold markings . Even a small amount of wear on the gold can reduce its value, and if it's just a gold-plated piece , there's no point in trying to sell it.

The value of gold depends on the international market price. The gold bar has its price posted daily by the Bank of Portugal, but the price in Portugal depends on the London Stock Exchange quotations (where the price is set in dollars per ounce).

And what factors influence the evaluation of a used gold piece?

• Type of piece : The price will vary depending on the type of piece, depending on how easily resold they are. A used gold chain is worth more than a ring, for example, because it's easier to resell.
• Weight of the piece: the heavier it is, the more valuable the gram of gold used.
• Condition: if the piece has no scratches or dents, you will receive more money for it.
• Antique: The older the better. However, if you're casting it, the price drops compared to a piece for resale.
• Gold purity: measured in karats. The more karats a piece has, the purer and more valuable it is.

In addition to these factors, the value of your used gold varies depending on the daily gold price , which fluctuates constantly. The price of gold today is different from the previous days, and it's very likely that it will be at a different price tomorrow. In the table below, you can see the daily gold price and its price variations over the days. The value indicated is for 1 kg of gold.

At Loja do Ouro, our ambition is to provide the best service and pay the best prices within the possible conditions and always ensuring the value corresponds to the official gold price (London Bullion Market Association).