Understanding Gold Futures Prices Chart

Gold Futures PricesGold futures are one of popular gold investing mechanisms along with buying physical metal, stocks of mining companies and gold ETF’s. Gold futures prices reflect the value of a standard size of precious metal commodity, usually 100 troy ounces, that a buyer agrees to buy and a seller agrees to sell at a set future date but for mutually agreed prices. This protects both parties of selling too low or buying too high. Gold future contracts exist for any month of the year to satisfy needs of sellers and buyers of the commodity. Sellers of gold are usually mining producers and buyers are jewelry manufacturers or bullion and coin makers.

Gold futures prices charts come in several types, namely, intraday (minute by minute), daily, weekly, monthly and historical charts allowing you to learn how these futures prices were fluctuating over a certain period of time. You can get a free subscription to a number of websites who can provide you with these charts on a regular basis so you can start your precious metals investing career and learning how to read these charts.

As we already know the spot price of gold is a constantly fluctuating amount that depends mainly on gold futures prices trading on a particular day. The closing price is determined based on an average of gold futures prices within the last two minutes of trading at COMEX (Commodity Futures Exchange) in New York City. Gold bullion prices in their turn are also fluctuating to reflect the current market price of the precious metal.

Looking at historical charts makes it clear that gold prices have always been very sensitive to an overall economic situation in the country and in the entire world. Heavy inflation, large state budget deficit and unemployment always caused market prices of this precious metal to soar. And prospering economy, on the other hand, triggers prices to plummet. Many economists use historical precious metal prices charts for their gold price prediction since any economics possesses a strong cycling character with its ups and downs.