Gold Price Charts: Why You Should Invest in Gold Today

Investing in gold—or other precious metals—is a serious decision, especially when your retirement is at stake. But there has never been a better time to purchase gold, either as a way to safeguard against inflationary forces or diversify your retirement portfolio. 

Buying gold—either as a retirement asset or a collectible commodity—is a simple process, but the first step is finding reliable information about its current price.  

Gold Price Charts: The Price of Gold Today 

The stability and value of gold make a compelling argument for investment, and there’s no better proof of that than today’s current market rates. The chart below details the most recent available data regarding the price of gold.  

Whether your plan involves buying gold coins or gold bars, consult the following price information before you purchase.

3 Reasons to Invest in Gold Today 

The best time to make a profitable investment was yesterday. The second-best time is today. 

Consider this: Have you ever purchased something on sale? Have you ever bought something because you felt you were getting it for cheaper than it was worth? If you have ever made such a purchase, you may be an investor who understands value.  

Unfortunately, many retail investors make decisions based on fear and emotion instead of value. They sell when they should buy, and they buy when they should sell. Humans are inherently followers. But chasing the herd can get you in trouble. 

With rampant inflation, rising geopolitical instability, and a hawkish Fed, would you consider this an excellent time to buy gold? 

If you answered yes, you understand the fundamentals of value and are correct. Intelligent retirement investors are making the move to gold in IRAs and 401(k)s. 

 The Price of Gold 

For some mining companies, the price of gold is below the margin cost for production for large portions of their supply. Long-term investors should be very aware of the fundamental opportunity to buy gold at this time. One should never fail to purchase an asset below its replacement value.  

If you are focused on proper allocation in your IRA or 401(k), now is a sensible time to purchase gold because of its price relative to the cost of incremental production. The investment makes sense for retirement and non-retirement investors alike. 

When gold prices increased, the cost of production also increased. As we explained in our primer on how mining costs influence gold prices, mining companies scrambled to ramp up production to keep up with demand. With current gold prices at about $2,000, production will decrease unless gold goes up or new technology comes along to make the process cheaper. Many mining companies’ incremental cost of production is above $1,300, and the average is believed to be $1,200.  

Basic supply and demand fundamentals signal that this is a good time to buy gold in your investment account, IRA, or 401(k). There is no fundamental likelihood of a decrease in demand, and the cost of production will likely rise. As a result, prices should rise. 

Diversify With Gold 

It is widely believed that investors should have at least some of their portfolio in gold. Each investor has their own risk profile and investment goals, but a minimal 5 to 10% is typical.  

You may be saving for retirement in an IRA. You may be allocating investments in your 401(k). You could also be looking to diversify your taxable investment account. In general, investors are poorly diversified, and their strategies are outdated. Many investors can attribute past investment losses to undiversified allocations and neglecting their portfolios. 

Don’t make the same mistakes. Stay up to date and make appropriate changes when necessary. Gold helps navigate volatility and increases stability and security for investors. Diversification is the only way to secure your portfolio. Gold is a major component of a properly diversified portfolio. 

Gold Has Inherent Value 

Now is the time to go looking for value in gold. In times of turmoil, physical gold can be a safe haven for investors, especially in IRAs and 401(k)s.  

Physical gold can rally on geopolitical uncertainty from an international incident or an unexpected inflation flare-up. With both of those happening right now, it’d be foolish not to consider a strong allocation in gold.   

Though the dollar remains strong, international currencies continue to fluctuate. Unlike many commodities that hinge on economic activity drivers, gold is often moved by political turmoil. We can all agree that there is no shortage of political crisis in the world right now, and there is no sign that it will change any time soon. 

Gold continues to serve long-term investors positively. Though prices of gold have dropped over the past year, they are reaching attractive levels for value-driven, long-term retirement investors. Individuals allocating their retirement IRAs and 401(k)s consistently find safety in gold. For many investors, this is an attractive time to change to gold. 

Invest in Gold Today 

If investing in gold sounds like an exciting opportunity to you, you’re not alone. Thousands of people have purchased gold to diversify their retirement or investment portfolios. Investing in gold doesn’t have to be complicated, either. Our experts are standing by to help you with your decision. 

When you have questions about gold investment, Advantage Gold can answer them. Call our team today at 1-800-341-8584 to learn more about self-directed Gold IRA accounts. You can also download our free Gold Investor Guide. 

**we are not tax or financial advisors

Gold Investment Timeline FAQs 

What units are used in the gold coin prices chart? 

Our gold price chart is in US dollars and tracks the price of gold in ounces (oz).

How frequently is the gold coin prices chart updated? 

Price charts are updated every five days. 

Can I track the historical gold coin prices chart?

Yes, you can track historical gold prices back to 1975.