The majority of gold is generally bought and sold by the troy ounce. A troy ounce is based in the assumption that one troy pound is equal to twelve troy ounces. It is 31.1034768 grams.
Gold price per ounce has seen great gains recently. For example, in September 2009, there were some opportunities to make some great gains on investment. The month opened with gold price per ounce of $950 and within eight days that price increased by 6% to $1,010 per ounce. The month had an overall high of $1,020, up 7% from its opening price per ounce. September did have 4 pullbacks, but the largest did not exceed 2%. Over all, the month ended up 4.2% with a price of about $1,000.
October opened at gold price per ounce of $1,005 and in two weeks ran up 5.5% to $1,060 per ounce. The price stayed relatively stable for a week until it pulled back 2.8% to $1,030 per ounce. The month closed strong, up 3.5% at a price per ounce of $1,040.
November 2009 saw a long rally with only three noticeable pullbacks the largest of which was not even 1%. This is, therefore, the best of those months with an ending gold price per ounce of $1,159. This resulted in a gain of 9.3% on the starting price of the month, being $1,060 per ounce.
No one knows what gold price per ounce will be tomorrow or next week or even next month. Just in September, October and November of 2009 the price has increased by 22%. In this situation you have an opportunity to buy low and sell high. Nevertheless, the potential investor should consider current economic signs and expert opinions about situations in the coming months and the coming years.
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