I recently invested in some gold coins , I'd like to know how to watch the price of Gold on the stock exchange
Question:
Answer:
Gold is a commmodity not a stock. It is traded on the New York Mercantile Exchange (called NYMEX) and on the Chicago Mercantile Exchange. Exchange traded commodities include things like pork belly futures, crude oil, copper, platinum, coal etc.
In the commodities trade there is the spot (ie immediate delivery like when you buy gas at the gas station) and the future markets wen you agree to deliver your gold at certain date in the future. The per barrel price of oil that we hear so much about is actually the current NYMEX rate for a barrell (55 gallons) of light sweet crude oil to be delivered in 30 days.
Gold traded on the markets is not usually in coin form it is in bullion or other unfinished state. Coins are generally not solid all the way through so they may not be marketable on the comodities market. If fact they are probably more valuable to coin collectors than anywhere else so you should probably watch the coin trade publications.
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