Gold Fundamental Price
Monetary Metals’ Fundamental price seeks to back out speculative forces in the gold market to reveal the underlying physical supply and demand picture. The degree of divergence between the market price of gold and the Fundamental price is, in our opinion, an indication of market exuberance or pessimism.
The Fundamental price is computed according to a model based on our economic theory. We believe that this model reflects the forces of supply and demand in the physical market however there is no guarantee that the market price will move to the Fundamental price quickly or ever.
3 Month Chart of Gold Fundamental Price
This chart is also available in durations of 3 years and from 1996 to today.
3 Year Chart of Gold Fundamental Price
Max Chart of Gold Fundamental Price
Gold Premium/Discount to Fundamental
This chart shows the degree to which the market price diverges from the Fundamental price. Positive values indicate that market prices are above our Fundamental price and this “premium” is shown in red as it reflects our opinion that the gold price may be overvalued. Negative values indicate that market prices are below our Fundamental price and this “discount” is shown in green as it reflects our opinion that the gold price may be undervalued.
This chart is available in durations of 3 months, 3 years and from 1996 to today.
3 Month Chart of Gold Prem/Disc to Fundamental
3 Year Chart of Gold Prem/Disc to Fundamental
Max Chart of Gold Prem/Disc to Fundamental
Dollar Price in Gold
Monetary Metals® argues that gold is the objective measure of value, against which everything including dollars, must be measured – it is dollar that is rising and falling in value against gold (and silver). This chart shows the price of a US dollar in milligrams of gold.
3 Month Chart of Dollar Price in Gold
This chart is also available in durations of 3 years and from 1996 to today.
3 Year Chart of Dollar Price in Gold
Max Chart of Dollar Price in Gold
Gold Spot Price Bid-Offer Spread
This chart shows difference between the bid and offer price for gold. This difference, or spread, can be an indicator of liquidity or stress in the market. When the market is highly liquid, bid-offer spreads may be tight (or low) but during periods of stress or uncertainty, the bid-offer spread may widen (or rise).
This chart is available in durations of 3 months, 3 years and from 1996 to today.
3 Month Chart of Gold Spot Price Bid-Offer Spread
3 Year Chart of Gold Spot Price Bid-Offer Spread
Max Chart of Gold Spot Price Bid-Offer Spread
Gold Fundamentals
All charts are up to date as of Wed, August 16, 2023.
