Gold premium is the additional value placed on top of the gold spot price, usually reflecting the cost of production, storage, and other factors. Synonyms for this term include gold surcharge, gold margin, and gold mark-up. These terms all refer to the same concept of an added fee attached to the price of gold. Another synonym is gold differential, which describes the difference between the spot price and the price offered by a dealer or refinery. These words are commonly used in the precious metals industry and can help investors better understand the true cost of purchasing and owning physical gold.