Price Changes on Gold Coins & Gold Bars
Why we don't update our prices daily.
We are often asked why we don't update our gold coin and gold bar prices more frequently.
There are several main reasons.
Constant State of Flux
The price of gold fluctuates constantly, and there is no such thing a "today's gold price". While it is true that there are morning and afternoon gold price fixes in London, these prices are only a snapshot of the market at that instant. Within seconds of each fix, the trading price will start to diverge from the fixing price. It is possible to deal at the fixing price, but the order needs to be placed before the fix takes place. Even if we were to reprice our pages 4 times each day, at opening, morning fix, afternoon fix, and closing, the prices quoted would be out of date over 99% of the time!
Over 1,000 Gold Price Dependent Products
We have over 1,000 prices which are dependent on the underlying gold bullion price, just counting our most commonly dealt items, taking into account quantity price breaks. In total, we have in excess of 1,000 products which fluctuate with gold prices. We do, as you will notice, publish our percentage premiums for most bullion items, so that you can work out the approximate price, and to make our prices as transparent to you as possible.
We could of course alter our website to be driven by a database. This would mean we would only need to change one or two key prices, but because each web page would need to be dynamically created, our site would load and run more slowly, and we prefer to keep our site as simple and fast as possible, we subscribe to the K.I.S.S. principle. Using dynamically created pages would mean that they were only "virtual" pages, and this would make it difficult if not impossible for search engines to find our site. An alternative would be re-compiling, and re-uploading our entire site several times per day. We would have to invest considerable time and money in making the change, and we just don't have the spare time. We try to stay lean, efficient and competitive. It seems to work, as even though we have been here since before 1964, we doubled our turnover in each of the last two years, and look set to do the same this year. In September 2001, we were running at about 10 times our normal sales levels.
Live Market Prices
There are companies such as Reuters who provide near instant price information services, but for a simple package including gold prices, their service costs over £6,500 per annum. They supply these services to many thousands of people world-wide. If we were to try to provide real-time prices on our site, we would in effect be trying to compete with Reuters.
Spot Gold Prices - Live
We now have a live spot gold price feed on our website.
London Gold Fixing Prices
A daily gold price chart is available on the website of the London Bullion Market Association.
Gold Price Future - Up or Down?
Update 4th June 2001
Gold Bullion Prices 1975 - 2000
London Fix in US Dollars
Bullion Coin Selector Page