Gold Spot Price Today

The gold spot price is the cost of a single troy ounce of gold ongoing. The spot price of gold is set by different authorities in different areas. For instance, in the UK, the LBMA sets the spot price of gold. In the US, it's done mostly through New York (COMEX). There are many other gold markets around the world particularly in China and India, the world’s largest physical gold buying markets, and all of them have spot and local bullion price markets. The gold price in different worldwide markets often gets arbitraged when one market goes into premium and or discount to another.

We calculate the current gold price using an industry-leading live data feed to ensure that you always have the accurate information needed to make sound decisions buying or selling gold bullion.

One gram of gold is generally worth about 1/31 the price of one troy ounce of gold, as there are 31.1034 grams in one troy ounce.  Additionally, the value of 1 gram should account for any applicable premiums. Since 1 gram gold coins, bars and rounds are more expensive to produce, they also generally command higher premiums, thus the retail price paid for a one gram gold bar will exceed its calculated melt weight.

No, you will not pay the gold spot price. The spot price does not apply to physical bullion investors, and does not include any dealer premiums or other charges. When you buy bullion from a dealer, you'll pay a markup, which can vary from one dealer to another. Dealers buy at or slightly over the spot price from mints and then add on premium to ensure they can make a profit and maintain their business. However, the spot price of gold is important to know because it allows you to determine whether or not you're paying a fair price with the dealer you choose. The amount between what the gold dealer paid, and what you're paying is the dealer's gross profit margin which is intended to help them cover their costs of doing business.

The gold spot price is typically reflecting a troy ounce of gold. The spot price is the value of one troy ounce of gold on the over-the-counter market. However, understand that gold is not always sold by the ounce, although that is one of the most common methods. Gold can also be sold by the gram, kilo, and metric ton. By knowing the gold price per ounce, you know the baseline of what you'll typically pay for one troy ounce of .999 fine gold from a bullion dealer (plus that dealer's and various gold mint markups for business and manufacturing costs).

By shopping around with different gold dealers, you'll find different prices that reflect varying markup amounts.

Gold is available in many different forms, including modern gold coins, gold bars, and older collectible gold coins. The gold bar price will vary depending on the amount of gold content in the bar. If the bar contains one troy ounce of gold, the price will typically be slightly less per ounce than the gold price for government-guaranteed and minted gold bullion coins or other similar gold bullion collectible items. However, if the gold bar contains more or less gold, the price will vary mostly depending on overall weight. For instance, a one-gram gold bar will not cost the same as an ounce gold bullion bar or a one-kilo gold bar.

Make sure to know the exact amount of gold bullion contained in any gold bar or gold coin before purchasing or selling to ensure that you are indeed getting a fair price related to spot and typical market premiums.

The US dollar is the standard for international trade, and gold is always traded in fiat US dollars. Even if you're buying in another nation, the dealer will likely have paid for the gold in a close equivalent amount of US dollars, and then simply translated the price to the currency of the nation in question. For instance, a dealer might offer an ounce of gold in British pound sterling, and you might pay for that gold in British pounds; however, the dealer often originally paid for many of their gold bullion product inventory in US dollars. Almost all gold transactions hinge on the ongoing value of the US dollar, no matter where the sale is taking place around the world.

During market hours, the gold spot price changes by the minute in most instances. The spot price of gold is typically updated every 60 seconds during regular market hours. It is important to understand the various factors that affect the gold price so that you can study gold price charts including gold price history for a longer period to determine whether now is the right time to make your move.

This applies whether you're buying, selling, or holding gold. Let's consider some of the most important factors that affected the gold price over recent years.

The US dollar is the standard for international trade, and gold is always traded in fiat US dollars. Even if you're buying in another nation, the dealer will likely have paid for the gold in a close equivalent amount of US dollars, and then simply translated the price to the currency of the nation in question. For instance, a dealer might offer an ounce of gold in British pound sterling, and you might pay for that gold in British pounds; however, the dealer often originally paid for many of their gold bullion product inventory in US dollars. Almost all gold transactions hinge on the ongoing value of the US dollar, no matter where the sale is taking place around the world.

Yes, gold is bought and sold at all hours of the day and night, all around the world. Gold is traded 24 hours per day during weekdays Monday-Friday to ensure all have access to this investment market, including banks, governments, other financial institutions, and investors just like you. This market is active in market-making around the clock to guarantee that you can always get an accurate gold price per ounce at any time.

Gold prices change frequently. The US market opens at 6 PM EST and closes at 5:00 PM EST and operates from late Sunday night when the gold derivative markets open in Asia to late Friday evening when the market closes in the Western world. On weekdays there is a one-hour window daily where the market pauses.

The frequency of these price changes will depend on what events are affecting the live gold price. For instance, breaking news usually has an immediate impact on the market, but other factors can include order flow, supply and demand, mine closures, investor decisions, and myriad others.

Gold and interest rates often have an inverse relationship. Usually, when interest rates go down, the spot price of gold will go up, and vice versa. That happens because in prosperous economic times, interest in safer investments, such as physical gold and other precious metals, is low. Conversely, when economic confidence pales and growth stagnates, the nation's currency usually devalues and investors turn to "safe haven" assets, such as gold, increasing demand and prices.

Yes, gold is bought and sold at all hours of the day and night all around the world. Gold is traded 24 hours per day to ensure that all comers have access to this investment market, including banks, governments, other financial institutions, and investors just like you. The market is active around the clock to guarantee that you can always get an accurate gold price per ounce.

High price inflation and fiat currency expansion eras mean that the purchasing power of fiat currencies is inevitably declining further. In response to periods of high inflation, investors will turn to safe investments, such as gold and other precious metals, to store value long-term. With the increase in demand, gold prices and overall relative values will also increase in response.

Gold is a scarce and precious commodity, treasured by humanity for thousands of years due to its rarity, utility, liquidity, and enduring value. In contrast, fiat currencies, such as the US Dollar, are only as strong as the country of emission (in this case, the United States) is economically stable and viable. Therefore, whenever the US Dollar is performing poorly, savvy investors will often buy gold to protect their purchasing power. In other words, they convert their savings into gold because it will appreciate against the US Dollar devaluing.

Yes. Geopolitical events play a crucial role in the ongoing price and value of gold. Because gold is a safe haven asset against economic downturns, any global event that impacts the sense of financial security, or directly impacts mining operations, will create a disturbance in supply and demand for gold, ultimately affecting its price and relative value versus other asset classes.

Supply and demand are the main drivers of gold fluctuations in the long run. If gold mining operations are down for any reason, the resulting shortage in newly mined gold supply will cause the price of gold to rise. Likewise, if the demand for gold rises substantially as investors seek a safe investment during times of economic instability, so will the price of gold rise.

Typically, gold prices rise in the second half of the year given seasonal physical demand in the Eastern world. This seasonal trend has been noticed in the past 50 years. One reason is the rise in gold jewelry demand from July to February of the following year, due to the Indian wedding season (summer and early fall) and the Chinese Holiday seasons for instance.

Gold futures contracts are traded on exchanges like COMEX. The price and amount of future contracts reflect traders' expectations or speculation on how the price of gold will move in the future. Because these contracts are standardized and traded publicly, they serve as a key reference for the spot price of gold. The front-month COMEX gold futures directly affect the ongoing spot price of gold.

Mining activity affects the supply of gold bullion available in the market. If mining activity is affected, that can cause a shortage of gold in the market, increasing its price.

Government policies impact gold prices through monetary policy, fiscal actions, and regulatory changes. Interest rates, inflation, deflation, and currency stability can directly influence investors' interest in gold as a safe-haven asset, ultimately affecting its price. Higher real interest rates make gold less attractive, while expansive fiscal policies or geopolitical tensions increase demand. Changes in import/export regulations, taxes, and fluctuations in central bank gold reserves also directly affect the supply and demand dynamics, influencing gold prices.

From local dealers to global transactions, the gold market's cap is worth trillions of dollars, even if we count only the "above the ground" gold reserves. This section will provide insights into how gold transactions work and key aspects of the gold market.

Gold prices change, and they can change quickly, even by the minute. You might wonder if the price you're quoted will be the gold price you pay if the prices fluctuate up and down constantly.

The good news is that gold bullion dealers "lock in the price" when your order is placed, so that will be the price of gold you pay regardless of what occurs afterward. If you're buying gold online, then you can lock the price in at the checkout page. Then, you'll have a specific amount of time to pay for your purchase in good funds and keep the current price of gold you locked in. If you take too long, the lock-in is removed, and you'll pay the new price of gold instead (if the gold price changes during that time frame).

However, understand that not all gold dealers offer online price lock-ins and purchasing options, so verify this before making any purchase decisions. Typically when dealers do not offer immediate purchase services online, they are often using nontransparent sales tactics with products that ultimately take advantage of novice buyers with exorbitant premiums and price markups.

The gold spot price is a fluctuating index that tracks market sales by the minute and rises or falls depending on the law of supply and demand. However, each bullion dealer adds a markup value above the spot price in order to cover business costs and guarantee a profit. That is what is called a "premium". Different dealers charge different premiums, ultimately affecting the final price of a gold bullion product, such as a gold bar or gold coin.

In most major US metropolitan areas, you can buy gold at brick-and-mortar shops like pawn shops, local coin stores, online through authorized bullion dealers, or through marketplaces such as eBay and Craigslist. Notoriously, buying from respectful online dealers is considered the best practice considering prices and safety. With a larger business operation and economies of scale, high-volume online bullion dealers, such as SD Bullion, are able to offer lower premiums than local dealers, and far safer transactions than individual sellers on marketplaces where counterfeits and fraud are commonplace.

Gold futures contracts are generally leveraged promissory notes. They promise that the individual or organization in question will buy or sell a specified amount of gold at a specific time in the future (hence, the name). These contracts may be for a few months down the road, or they may be for years ahead. There are several challenges here.

For instance, the price of gold you'll pay will be significantly higher than buying just a single ounce (most futures contracts represent 100 troy ounces of gold), and the chance for the price of gold to change between the time you buy your futures contract and when you actually take delivery is high. While there is potential for the price to go up, meaning you've saved money, there's an equally good chance that the price might go down, meaning you've paid too much. Leverage often at levels of 25 to 1 represents real risk to those who lose in futures market speculations.

Taking physical delivery through futures contracts is capital-intensive, complex, and antiquated. Often the retail gold bullion buyer is better served by choosing trusted high-volume online bullion dealers instead.

While gold futures prices will be similar to the bullion price, it is important to understand that gold futures contracts are not the same as owning the physical precious metal bullion. While you can technically buy a gold futures contract rather than an actual physical ounce of gold, you'll ultimately pay more for your purchase in the end. If you intend to take physical delivery, you’ll face fees such as storage, insurance, and delivery charges, which can make the final cost higher than simply purchasing bullion outright. Not all gold futures result in physical delivery, and the number of approved "good delivery" bullion products is limited. When delivery is taken, it's typically in large quantities, such as 100 ounces, which is a standard contract size. Large kilo gold bars are not the typical product size for a retail bullion investor.

No, they are not the same. There are actually crucial differences between bullion and ETFs.

Yes, you can invest in gold ETFs if you prefer to perhaps swing trade in the short term. However, it is important to understand that gold ETF exposure will not provide you with actual gold bullion that you could instead own and hold fully outside the financial system. Gold ETFs do come with ongoing management fees, which also erode returns over time.  Unlike buying physical gold, investing in a gold ETF does not give you tangible access to the metal. Even if the ETF is supposedly backed by physical gold, almost all retail investors are not entitled to redeem any alleged underlying gold.

ETFs are traded like stocks, and their prices can be influenced by market forces beyond the spot price of gold, such as investor sentiment or liquidity. Gold ETFs may be suitable for short-term or speculative trading, but they lack the safe-haven qualities that owning physical gold bullion provides. For long-term investors seeking security outside of the financial system, physical gold is generally preferred.

Gold prices reflect economic cycles, geopolitical changes, and even societal trends. These factors have shaped gold's trajectory, especially in this fiat currency era. The questions below will give you a broader perspective on how historical data and market trends can create future expectations.

You can track historical trends in gold prices by analyzing our historical gold price data.

On October 30th, 2024, the gold spot price closed at a record $2,786.44. This data was last updated in December of 2024.

Yes, gold does have industrial applications often taking up to 10% of annual demand, but its price is less sensitive to industrial demand compared to silver. However, gold still has many unreplaceable applications in high-end electronics, dentistry, and other industrial sectors like aerospace, but these applications have a smaller impact on its price relative to factors like ongoing jewelry, investment demand, and central bank activities.  Therefore, high industrial production might drive up gold prices, though to a lesser degree than investment demand and Central Banks' activities.

Gold is mainly used in jewelry and as a long-term store of value in bullion formats. However, due to its high conductivity and resistance to corrosion, it has many cutting-edge industrial applications in electronics, medicine, and the underlying internet grid (e.g., servers).

Yes. When gold jewelry demand is high, especially during the second half of the year (wedding and holiday seasons), gold prices will typically rise.

Gold bullion is physical gold that has been refined into bars or coins with the primary purpose of serving as an investment vehicle. By strict definition, gold bullion is gold bars or gold coins that must be 99.5% pure or above. Gold bullion can serve as both a private investment or a reserve by central banks and institutions.

Gold bullion in retail bullion parlance also constitutes 22k sovereign gold coins minted by the governments. Examples include the world-famous South African Gold Krugerrand coin and the highly popular 22k American Gold Eagle coin.

In theory, yes. The price of gold is typically indexed in USD per Troy Ounce of gold bullion. However, other countries will convert the price in USD to their local currency, which can cause slight differences. Physical bullion premiums or discounts in local markets are often arbitraged away over time.

The most common types of gold bullion available for purchase are gold bars and gold coins. The standard size for both products in the USA is 1 troy ounce, but fractional sizes (1/2 oz, 1/4 oz, 1/10 oz, 1/20 oz, 1 gram, etc.) and larger options like 5 oz, 10 oz, and 1-kilo bars are also available.

In practical terms, supply and demand are the primary drivers of gold price fluctuations.

However, interest rate policies, geopolitical instability, and investor sentiment also influence the price of gold. Typically, gold prices move in the opposite direction of the US Dollar. In times of economic downturn, investors turn to gold as a safe haven, which increases demand and, consequently, prices.

It is not possible to buy gold at or below the spot price because the spot price does not account for additional costs like manufacturing, transportation, storage, and dealer markups. These added costs increase the final price above the spot price. Typically anyone trying to sell gold below the spot is a red flag and the outcome is often a scam of some sort.

Precious metals are usually measured in troy ounces rather than the most common avoirdupois ounce. One troy ounce is equal to 1.097 avoirdupois ounces. Converting into grams, 1 troy ounce equals 31.1 grams, while 1 avoirdupois ounce equals 28.3 grams. The gold spot price is indexed in troy ounces.

Gold is a precious commodity and hard asset that humankind has valued for millennia. It is considered a safe haven asset and a store of value that protects wealth and purchasing power, especially in times of economic crisis. Governments already own more than 1 in 5 ounces ever mined according to industry data ongoing. They do this because gold bullion will always have value and inspire confidence in monetary regimes.

While silver prices are far lower than gold prices, silver can sometimes appreciate substantially relative to gold. Savvy investors often compare the current gold and silver prices to determine the gold-silver ratio, and based on that, they may choose to purchase, sell, and or hold either gold, silver, or both.

Gold prices are typically less volatile than silver prices. There are long durations of time where either respective metal gains in relative value versus the other. In deflationary eras, gold tends to outperform silver. In inflationary expansionist cycles, silver will often outperform gold. During a monetary crisis, gold tends to outperform first and eventually lead silver into a later catch-up rally and outperformance cycle.

The spot gold-silver ratio indicates the proportional difference between the spot price of gold and the spot price of silver. In other words, if the spot price of gold is $2,500 oz and the spot price of silver is $30 oz, the gold/silver ratio would be 2500/30 = 83.33. The spot gold-silver ratio has swung in the last 55 years to as low as 15 in the 1980 bull market peak, to above 120 briefly during the 2020 Covid crash.

By knowing the current gold price and comparing that with historical gold prices, you can determine whether there is an uptrend, downtrend, or if gold's value is remaining static. Based on this, you can then determine if now is a good time to buy (when prices are low but demand is expected to go up), a good time to sell (if prices are high but expected to go down), or a good time to hold your gold bars or bullion assets for the interim. However, this does require considerable analysis of the historical price of gold and access to accurate gold price charts and historical gold price information.

If gold prices continue to increase at the same rate as they have in the last five years, it is not farfetched to predict an average annual rate well above $3,000 a troy ounce of gold within the next 5 years. There are potential coming scenarios where the price and value of gold within the next five years could be markedly higher than where they are today.

Because gold is seen as a hedge against inflation and fiat currency devaluation, it typically performs better than other assets during a recession due to the increased demand from investors looking to protect their purchasing power.

Most dealers that sell gold and other precious metals charge a premium, which is essentially a percentage over the spot price to cover business-related expenses, such as production and distribution, in addition to guaranteeing a profit. That is why it is usually not possible to buy gold at or below the spot price. Be alert about possible fraud or counterfeits if you come across gold offers at very low prices. High-end Chinese gold counterfeits have become more commonplace over the last decade plus of international internet shipments proliferating the often porus USA.

It is wise to only buy and sell bullion with trusted counterparties you know to be proven and reliable in their track records and historic reputations.