So if gold is quoted at $1320 per ounce, how much gold can I get for that price? Spot gold prices are quoted as the price of 1 troy ounce of .999 percent fine gold deliverable now. This means you can usually purchase one ounce of gold bullion for right around this price plus the dealer's premium.

Spot price is the market price of a Precious Metal, which fluctuates on a minute-to-minute basis, like any commodity traded on the market. Investors naturally want to purchase items as close to the Silver spot price or Gold spot price as possible.

Silver bars individually weigh only 6.86 pounds on bathroom scales, they are easy to handle. Most 100-oz silver bars are .999 fine (essentially pure), which means investors can store a great amount of wealth in a relative small space.