Investors and those curious about precious metals should keep up with gold prices in the U.S. Virgin Islands. The gold price changes often. This is because of how much gold is available and how much people want it.
As of December 4, 2024, gold costs $2,642.50 per ounce in the U.S. Virgin Islands. This is up from $2,641.52 the day before. It’s also a big rise from $2,030.37 on December 4, 2023. Gold prices in the U.S. Virgin Islands change all day to show the latest market news.
The U.S. Virgin Islands uses the U.S. Dollar. This is because it’s a U.S. territory. The U.S. Dollar is safe when the economy is shaky.
Key Takeaways
- The current gold price in the U.S. Virgin Islands is $2,642.50 per ounce as of December 4, 2024.
- Gold prices in the U.S. Virgin Islands have increased by $612.13 compared to the same time last year in 2023.
- The U.S. Virgin Islands uses the U.S. Dollar as its official currency, which is widely traded in global markets.
- Gold prices in the U.S. Virgin Islands are influenced by supply and demand dynamics, leading to fluctuations throughout the trading day.
- Staying updated on the latest gold price trends in the U.S. Virgin Islands is essential for investors and those interested in the precious metals market.
Current Gold Market Overview in U.S. Virgin Islands
The cost of gold in the U.S. Virgin Islands has gone up. This follows global trends in precious metals. On September 25, 2024, gold was $2,656.40 per ounce. Silver was $31.77 per ounce.
This is a big jump from 2023. Back then, gold was around $2,000 per ounce.
Latest Spot Price Updates
The gold rates in the U.S. Virgin Islands match the global XAUUSD price. This price shows gold’s value in U.S. dollars. On September 25, 2024, gold was $85.86 per gram.
This shows how precious metal prices can change.
Market Trends and Daily Fluctuations
Gold mine production has gone up. It was 2,560 metric tons in 2010. By 2019, it was 3,300 metric tons. Then, it dropped in 2020.
In 2022, it was 3,100 metric tons. These changes, along with global economics, affect gold prices.
Price Comparison with Previous Years
The price of gold in the U.S. Virgin Islands has risen a lot. Prices have been over $1,500 since 2016. They hit around $2,000 by the end of 2023.
Goldman Sachs thinks prices will keep going up. They might hit $3,000 per ounce by 2025.
“Central banks worldwide began buying gold in early 2022 to diversify their reserves away from the dollar.”
Technical analysis shows gold prices might go up more. The XAUUSD is moving towards a key average. This supports the rise in gold rates in the U.S. Virgin Islands.
Factors Influencing Gold Rates in USVI
The gold market in the U.S. Virgin Islands (USVI) changes a lot. It’s shaped by global and local things. Knowing these helps with smart gold investment U.S. Virgin Islands and gold trading U.S. Virgin Islands choices.
Worldwide, how much gold is made and how much is wanted affects prices. If more people want gold than there is, prices go up. Big economic and world events also play a part in gold prices, affecting the USVI too.
In the USVI, the local economy is very important. What jewelers and investors want can change prices. Also, things like inflation and how much people spend can shape the gold market. Plus, taxes on gold imports can raise what people pay for it.
How the U.S. dollar changes value is also key. Since the U.S. dollar is used in the USVI, its changes can affect gold investment U.S. Virgin Islands and gold trading U.S. Virgin Islands prices.
Knowing all these factors helps USVI folks make better choices in the gold investment U.S. Virgin Islands and gold trading U.S. Virgin Islands world.
Price of Gold in U.S. Virgin Islands Across Different Karats
Gold prices in the U.S. Virgin Islands change with the karat. Knowing about gold purity and its price is key for smart buyers and investors.
24K Gold Prices and Availability
The price of 24 karat gold in the U.S. Virgin Islands is $84.99 per gram. This is because 24K gold is pure gold, with no other metals mixed in. It’s very shiny and pure, but not good for everyday jewelry because it’s soft.
Common Karat Options (22K, 18K, 14K)
- 22 karat gold in the U.S. Virgin Islands costs $77.85 per gram. It’s a mix of purity and strength.
- 18 karat gold, with 75% gold, is priced at $63.74 per gram. It’s a good choice for those who want jewelry but don’t want to spend too much.
- 14 karat gold, the most common for jewelry, is $49.72 per gram. It has 58.3% gold and is both valuable and wearable.
Price Variations by Weight Units
Gold prices in the U.S. Virgin Islands change with the weight. For example, a 5-gram 24 karat gold bullion costs $424.95. A 1000-gram 24 karat gold bullion is $84,990.42. These prices show how important it is to know the market and the weight you need.
“The interplay of gold purity, market demand, and weight units creates a nuanced pricing landscape in the U.S. Virgin Islands. Informed consumers can navigate this terrain to find the perfect balance of value and quality.”
Gold Bullion Investment Opportunities
Investing in gold bullion in the U.S. Virgin Islands is smart. It helps diversify your investments. The U.S. Mint makes many coins, like the American Gold Eagle.
This coin has one troy ounce of gold and is worth $50. It comes in bullion and proof versions. You can also get it in smaller sizes.
The American Gold Eagle is good for IRAs. This makes it great for long-term investors. Experts say to put 5-10% of your money in commodities like gold investment.
When investing in gold bullion in the U.S. Virgin Islands, find good dealers. Know the costs like premiums and storage fees. Gold can protect your money from inflation and market ups and downs.
| Metric | Value |
|---|---|
| Total Fund Assets | $281.5 million |
| Inception Date | April 8, 2019 |
| Minimum Investment | $1 million |
| Management Fee for SGDLX Investor Class | 0.90% |
| Management Fee for SGDIX Institutional Class | 0.90% |
| Total Annual Fund Operating Expenses for SGDLX Investor Class | 1.49% |
| Total Annual Fund Operating Expenses for SGDIX Institutional Class | 1.20% |
There are more ways to invest in gold in the U.S. Virgin Islands. You can look at gold-backed bonds and gold yield programs. These options can add variety and income to your portfolio.
“Investing in gold can be a powerful hedge against inflation and market volatility, particularly in times of economic uncertainty.”
Exploring the gold investment world in the U.S. Virgin Islands can help you make smart choices. These choices should match your financial goals and how much risk you can take.
Making Charges and Additional Costs
When you buy gold in the U.S. Virgin, you need to know about making charges. These costs, from 10% to 20% of the gold’s price, affect the final cost. They can change how much you pay for gold jewelry and other items.
Understanding Manufacturing Fees
Making charges cover the costs of shaping the gold. This includes labor, tools, and other expenses. For example, if gold costs $60 per gram, making charges could add $6 to $12. This makes the total cost $66 to $72 per gram.
Total Cost Calculation Guide
To find the total cost of gold, add the spot price to making charges. Knowing these parts helps you make smart choices. You’ll know if you’re getting a good deal.
Regional Price Variations
Making charges for gold in the U.S. Virgin Islands can change. Prices might be higher in places with more tourists or luxury markets. To find the best price, compare what different jewelers offer. Look at the gold’s purity, weight, and how it’s made.