Market Calendar
The Retail Premium Index

10 oz Gold Bar Premiums Relative to Spot, Month by Month

In August 2026 the 10 oz gold bar carried 1.4% over spot, or $62.16 an ounce over the metal value, against 2.3% for the gold composite in the same month and the reading sits in the 18th percentile of the product's own history.

Retail Premium Index, August 20261.4%$62.16 per ounce over spot18th percentile of its own history
August 202610 of 10 gold benchmarks this month
1-year average1.4%
All-history average2.0%80 months
Retail Premium Index gold composite, August 20262.3%

The year's range so far1.1% in January 2026 to 1.8% in July 2026

captured 31 Aug 2026 · How these numbers are made

Month by month

Compare against:
-2.5%0.0%2.5%5.0%7.5%10.0%12.5%July 2014May 2016November 2017May 2019November 2020May 2022November 2023May 2025
See the figures
10 oz gold bar and Gold composite, by month
Category10 oz gold barGold composite
July 20143.1%
August 20143.8%
September 20143.1%
October 20143.4%
November 20143.3%
February 20154.0%
March 20153.8%
April 20153.4%
June 20154.2%
July 20154.1%
August 20154.1%
September 20154.7%
November 20154.4%
December 20154.5%
January 20164.1%
February 20163.6%
March 20164.2%
April 20163.6%
May 20163.6%
June 20164.0%
July 20163.4%
August 20163.5%
September 20162.7%
October 20163.2%
November 20163.9%
December 20163.8%
January 20174.0%
February 20174.0%
March 20174.2%
April 20173.7%
May 20173.1%
June 20173.3%
July 20170.3%3.5%
August 20171.2%2.8%
September 20171.1%3.0%
October 20171.1%3.5%
November 20170.9%3.6%
December 20171.1%3.5%
January 20181.6%2.8%
February 20181.7%2.5%
March 20181.3%2.5%
April 20181.5%2.4%
May 20181.6%2.6%
June 20181.6%2.7%
July 20181.5%3.1%
August 20181.7%3.2%
September 20181.8%3.1%
October 20181.3%2.9%
November 20181.8%3.0%
December 20181.7%2.7%
January 20190.8%2.9%
February 20191.4%2.2%
March 20191.0%2.4%
April 20191.3%2.3%
May 20191.3%2.4%
June 20191.3%1.9%
July 20191.3%1.6%
August 20190.9%1.6%
September 20191.0%1.5%
October 20191.1%2.3%
November 20191.0%2.0%
December 20191.1%2.0%
January 20201.2%1.8%
February 20201.1%2.0%
March 20201.8%3.6%
April 20209.8%
May 20206.8%
June 20202.9%5.4%
July 20202.7%3.9%
August 20202.4%4.4%
September 20202.2%3.8%
October 20202.2%3.7%
November 20202.1%3.9%
December 20202.1%4.0%
January 20212.4%4.0%
February 20212.9%5.4%
March 20213.4%5.5%
April 20213.1%5.4%
May 20213.0%5.4%
June 20212.8%5.0%
July 20212.6%4.5%
August 20212.2%4.1%
September 20212.7%3.9%
October 20212.3%4.2%
November 20212.4%4.3%
December 20213.0%4.4%
January 20222.4%4.1%
February 20221.8%3.8%
March 20222.4%3.8%
April 20222.9%4.1%
May 20222.7%4.2%
June 20222.1%4.4%
July 20222.5%4.3%
August 20222.3%4.3%
September 20222.2%4.6%
October 20222.9%5.3%
November 20222.6%5.0%
December 20222.6%4.3%
January 20232.4%4.1%
February 20232.5%4.1%
March 20232.2%3.8%
April 20233.0%4.8%
May 20232.7%4.4%
June 20232.1%4.4%
July 20232.2%4.1%
August 20232.2%3.7%
September 20232.2%3.8%
October 20232.1%3.5%
November 20232.1%2.8%
December 20232.0%3.2%
January 20242.0%3.3%
February 20241.8%2.9%
March 20241.8%2.7%
April 20241.7%2.5%
May 20241.9%2.2%
June 20241.7%2.4%
July 20241.6%2.5%
August 20241.6%2.2%
September 20241.4%2.4%
October 20241.5%2.3%
November 20241.5%2.6%
December 20241.3%2.4%
January 20251.5%2.1%
February 20251.8%1.9%
March 20251.8%2.3%
April 20251.5%2.1%
May 20251.5%2.3%
June 20251.4%1.8%
July 20251.6%2.0%
August 20251.6%2.0%
September 20251.6%1.9%
October 20251.6%2.3%
November 20251.2%2.6%
December 20250.8%1.9%
January 20261.1%1.8%
February 20261.6%2.6%
March 20261.4%2.1%
April 20261.4%2.6%
May 20261.3%1.7%
June 20261.4%2.1%
July 20261.8%2.5%
August 20261.4%2.3%
Monthly premium over spot, July 2017 to August 2026, against the gold composite. Months with very few sales are drawn like the others here and left out of the averages and the high.

Based on SD Bullion transaction data. Figures before March 2019 are historical estimates.

Some months of this series were revised at the latest publish. See Revisions

Gold premiums | Compare with 1 oz Gold Bar

Look up a month

The month's premium
1.4% · $62.16/oz
2026 range
1.1%-1.8%

What moves this premium

Ten troy ounces of .9999 fine gold from recognised refiners, the large retail unit. Per ounce its premium has usually been the lowest of any gold product in this index. Movement in the 10 oz premium is unusual and has typically signalled tightness in wholesale gold rather than a rush for one coin. The benchmark takes standard 10 oz gold bars of every refiner, minted or cast; themed and collector designs and graded pieces are left out where they can be identified.

What miners pay to produce an ounce is the other half of the picture: see what the tracked producers spend against the metal price.Miner margins

About the 10 oz gold bar

Manufacturer
Various private and government refiners
Product type
Bullion bar
Gold content
10 troy oz
Fineness
.9999, typically
Legal tender
No
Face value
None
Form
Cast or minted, varies by refiner

Premium benchmark: standard 10 oz gold bars of every refiner, minted or cast; themed and collector designs and graded pieces are left out where they can be identified.

The Retail Premium Index

Questions buyers ask

Why does a 10 oz gold bar carry a lower premium per ounce than a 1 oz bar?

The work of making, stamping, packaging and handling a bar does not grow tenfold when the bar does, so the same fabrication stack is spread over ten ounces instead of one. Per ounce, the larger bar has usually carried the thinner premium, and this index shows that ladder across the gold products it follows.

Are 10 oz gold bars harder to sell than coins?

The pool of buyers for a single ten-ounce piece is smaller, because a bar cannot be divided the way a handful of coins can. Dealers have normally bid close to the metal value on bars from refiners they know, and a large bar tends to draw more scrutiny on its packaging and stamps than a coin does.

Does a gold bar have to stay in its assay packaging?

There is no rule that it must, and the metal is the same either way. The sealed packaging carries the refiner's mark and a serial number, though, and an opened bar is normally verified again before it changes hands.

How to read this page

The Retail Premium Index publishes the average premium paid on retail orders at SD Bullion, month by month, for each benchmark bullion product. A premium is what a buyer pays above the metal value of the piece, as a share of that value; a dollar figure is shown only where the record carries it. It includes the mint's and the distributor's charges as well as the dealer's, so it is not a measure of dealer margin.

A premium can also be negative: when the metal price moves very fast, some products have sold for less than the metal in them, and the series shows that as it happened.

Where next

The Retail Premium Index is a free public resource published for educational purposes only. It is compiled from real transaction records and from market data we license, using the methods described on the methodology page, and we correct it when we find errors. It is not a price quote, an offer to buy or sell, or investment advice, and it may not match figures compiled by other dealers or from other sources, whose products, pricing and methods differ from ours. The methods, the products covered and the period covered may change over time; nothing about the continuation, consistency or method of the index is guaranteed, and any figure may be revised or withdrawn. Past premiums do not indicate future premiums. The figures come from one retailer's own records of completed orders, and for the months before March 2019 from estimates of what the metal was worth at the time of each sale.

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