How much does it cost to buy a piece of gold?

These heavy “gold bricks” are comprised of 400 troy ounces of pure 24-carat gold (99.99% pure). The troy ounce is the industry standard for weighing and setting prices of precious metals, according to the ancient unit of weight developed by the Romans. There are also gold bars in other, more affordable sizes. The most popular sizes include the Kilo gold bar, a 32.15 troy ounce bar that weighs about 2.2 pounds and has one of the lowest premiums a gold investor can find.

For those looking for a top rated gold IRA, this is an ideal option. Kilos are the most popular form of gold storage and the world standard for investment gold ingots. Other sizes of gold bars include the 10-ounce gold ingot, which comes from a well-known private label, such as Credit Suisse or the Perth Mint. When buying gold jewelry, keep in mind that the price you pay will be linked to the craftsmanship of the piece and that the amount of gold it contains will be only a percentage (carats) of its total weight. The Mint contains 91.67% of gold, but it costs more than pure gold bars because of its value as a collector's item.

Gold can come in different shapes and sizes, but the actual composition of the metal is usually similar between pieces of high-quality gold. Physical gold suitable for investment, also called gold ingots, can be purchased at the spot price, which is the price of gold without manufacturing plus additional costs, which vary depending on the seller.