The two main gold prices investors should know about are spot prices and gold futures prices. Learn more: How to invest in gold in 4 stepsThe spot priceThe spot price of gold is the current market price per ounce for physical gold as a raw material, sometimes called spot gold. Gold ETFs that are backed by physical gold assets generally track the gold spot price. The spot price is more like a wholesale price, and the spot price plus the gold premium is the retail price. Factors that affect gold pricesSupply and demand determine gold spot prices and gold futures prices.