Gold Price

How Gold Gets Its Price: A Quick Breakdown

Gold prices aren’t set in stone—they move based on two key systems:

1️⃣ Newly Mined Gold: Freshly extracted gold, including SA Kruger Rands, follows the London Bullion Market Association’s pricing. Twice a day, the market sets a fixed rate, giving dealers a stable reference point.

2️⃣ Pre-Owned Gold (Secondary Market): This is where things get dynamic. Prices are determined in New York and fluctuate in real-time, commonly referred to as the "Spot Price." Since secondary market gold is always in motion, SA Kruger Rands updates its pricing every hour to reflect the latest market shifts.

In short—new gold has scheduled pricing, while secondhand gold rides the market wave.