Gold Prices Today and What Investors Must Know

On this page, you’ll find the live gold price, as well as charts depicting gold price trends over time. Not only do we provide the live gold spot price, but we also offer a full 24-hour price chart to help make faster investment decisions. You can also make use of our interactive gold price chart, as well as view many of the various bullion choices.

Current Gold Prices and Historical Gold Prices

We are proud to offer access to both the gold price today, as well as historical gold prices. Our interactive gold price chart allows you to view gold prices for a wide range of periods and custom date ranges. We also provide “quick view” charts that provide the price of gold today, within 24 hours, for the past month, the past six months, and for a full year.

Understanding the Gold Spot Price

What is the gold spot price? Simply put, this is the standard used to set the price of a single troy ounce of gold. The gold spot price plays a role in bullion sales and pricing, as well as in other investment areas. You will also notice that the spot price is not constant – it changes slightly over the course of a trading day. These fluctuations are usually minor, and should only play a decisive role in ultra-short term investments, not long-term buying. Quite a few different factors play a role in determining the spot price of gold at any single time, including currency values, the supply of gold, current events affecting the market and the world at large, market speculation, and more.

With that being said, the impact of governments, big banks and even major investors can also affect the current (and future) price of gold. For instance, suppose the Fed began buying up gold, or the European Central Bank started stockpiling gold. This surge in demand should cause prices to rise. The higher the demand, the higher the gold spot price will rise. When major investors (think George Soros) begin buying up large quantities of gold, this also affects the market.

There is a huge demand from the investor, but there is also a ripple effect as the investor’s actions affect the decisions of other investors. This will also move the live gold price. Again, more demand equates to higher prices. Gold, despite its myriad other uses, is ultimately a commodity. The less of any commodity available and the higher the demand, the more that commodity is worth.

How to Invest in Gold

There are quite a few things you’ll need to know in order to use gold as an investment. One of those is the current gold price, or spot price of gold. You’ll also need to determine how you will be investing. It’s possible to buy physical gold in the form of bullion, but you can also invest in ETFs, which are essentially paper certificates that show ownership of a specific amount of gold. Bullion is the preferred option for those who are going to buy and hold gold as a hedge against economic uncertainty, while certificates can be a better choice for those looking for a shorter-term investment option (think day trading). In addition, certificate holders will never take physical possession of the gold they own, which can be a drawback for some. In terms of bullion, you can invest in gold by the ounce in the form of bullion coins like the Canadian Gold Maple Leaf coin or the American Gold Eagle coin, or in gold bars usually measured in grams, ounces and kilograms.

However, in all instances, it is crucial that you know the gold price per ounce, the historic gold price trends, and have access to a gold price chart so you can plot the movement of gold’s value over time.

Frequently Asked Questions about the Gold Price

What is the spot price of gold?

The gold spot price is basically the cost of a single troy ounce of gold at any given moment in time. 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 through New York and Chicago (COMEX). There are many other gold markets around the world, and all of them set the same price. The gold price in different worldwide markets is set based on a single value and then translated into a different currency.

Is the gold rate in the US different from the gold rate in other countries?

Yes, the price of gold, specifically the spot price of gold, will be different from one market to another, but only marginally so. You’ll actually pay the same regardless of your market. While there is a 24-hour gold market, it’s closer to Forex than the stock market in terms of performance. However, with that being said, there is usually a very close correlation between the gold rate for one market and the gold rate for another.

Why do I need to know the current price of gold?

By knowing the current price of gold 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 asset for the interim. However, this does require considerable analysis of the historical price of gold and access to an accurate gold price chart.

How do we calculate the price of gold per ounce?

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

Why does gold price history matter?

Paying attention to gold price history is crucial for a number of different reasons. Primarily, gold price history is important for determining the current trend. Too many new gold buyers rely on the gold spot price and immediate fluctuations to determine whether they should buy or sell. However, gold is best used in a longer term fashion, and gold price history helps you determine whether the overall trend is up, down or flat. Only by analyzing gold price history can you make an accurate determination of movement and then choose to take action or wait.

Is the gold spot price the cost I’ll pay to buy an ounce of gold?

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 are able to make a profit. 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 ultimately choose. The amount between what the dealer paid, and what you’re paying is the dealer’s profit margin.

What is the ounce of gold price?

The gold spot price is also the ounce of gold price. The spot price is the value of one troy ounce of gold. 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 and by the kilo (kilo bars are generally thought of for banks, governments and financial institutions due to the significant cost here). So, by knowing the gold price by ounce, you know the baseline of what you’ll pay for one troy ounce of .999 fine gold from a dealer (plus that dealer’s markup for profit). By shopping around with different dealers, you’ll find different prices which reflect varying markup amounts.

How does the gold bar price vary from the ounce of gold price?

Gold is available in many different forms, including coins, bars and more. The gold bar price will vary depending on the amount of gold in the bar. If the bar contains one ounce of gold, the price will be the same as the ounce of gold price for coins or other similar items. However, if the bar contains more or less gold, the price will vary. For instance, a one gram gold bar will not cost the same as an ounce of gold. Make sure to know the exact amount of gold contained in any bar or coin before purchasing to ensure that you’re paying a fair price.

What currency are gold prices per ounce offered in?

The US dollar is the standard for international trade, and gold is always traded in US dollars. Even if you’re buying in another nation, the dealer will have paid for the gold in the 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 pounds sterling, and you might pay for that gold in pounds; however, the dealer originally paid for it in US dollars. All gold transactions hinge on the value of the US dollar, no matter where the sale is taking place around the world.

Is today’s gold price the same in all nations?

Today’s gold price is ultimately the same in all countries around the world. The spot price is set and then converted into other currencies. So, while you might pay more of a particular currency for an ounce of gold in another area of the world, the actual value in US dollars would be the same. If today’s gold price were different in various areas, there would be an opportunity for arbitrage, and that is not acceptable in the gold market, unlike other financial markets like the Forex.

What Factors Affect The Gold Price?

Spend any amount of time studying gold prices and you’ll notice that it changes quite frequently. It can change by the hour, or even by the minute in some instances. 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 more important factors that affect the gold rate today.

What common factors influence the gold price?

The gold price is affected by a very wide range of factors. This is due to the nature of gold – it’s both a store of value, and a commodity. For instance, supply and demand will affect the gold price in the USA, as well as around the world. If a new gold mine opens and the supply suddenly exceeds demand, then prices should fall. If a gold mine is exhausted and demand remains high, prices should rise. However, other factors that affect gold bullion prices include mint fees, fluctuations in currency, the state of the world’s economy and geopolitical challenges. So, there might be plenty of gold available, but if an unstable situation prevents a mine from transporting the gold out of the country, prices could go up. If the currency in one country becomes devalued to a significant extent, the local price for gold could rise as well.

Does gold fluctuate too much to make it worth the time of an ordinary investor?

While you’ll find major players investing in gold constantly, from big banks and governments to investors like George Soros, it is not too volatile for the ordinary investor to use. By knowing the spot price of gold and historic gold prices, you can track the movement of the metal and make smart investing decisions. Many ordinary investors choose to put a percentage of their wealth into gold simply to protect it from paper dollar devaluation.

Gold is a “store of value” investment. This means that while the gold price might change daily, or even hourly, the value of the gold does not. It protects the money you put into it. This is more important during challenging economic times than it is during the course of normal events. For instance, when markets are performing well and times are good, the gold market price will typically drop or hold steady at a lower point. This is a good time to put money into gold and hold it. Eventually, the economic cycle should come full circle and a recession should set in. When this happens, the price for gold rises, and you’re able to safeguard your wealth. Imagine if you did not put your money into gold. When inflation hits, your money is worth less than it was. However, if that money is in gold, then it should hold its value against the inflated fiat money.

In the end, gold can fluctuate a great deal. However, savvy investors understand that this is not a short-term investment. Gold is not similar to the stock market. You don’t buy and sell quickly in order to make profit and then move on to the next investment option. You buy gold and then hold it as a hedge. This allows you to avoid losing money during fluctuations of the price of gold. Even if you decided to use gold the same way as you would stocks, the amount of movement per day in the market (volatility) is very similar to what you’d experience on the stock market.

Does the gold market operate 24 hours per day around the world?

Yes, gold is bought and sold at all hours of the day and night, all around the world. You can get the current gold price per ounce at midnight or sunrise, lunchtime or any other time you need it. 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.

How frequently does the gold ounce price change?

Spend any time studying gold price history or a current gold price chart, and you’ll notice that the gold price changes, and it can do so frequently. The market opens at 6 PM EST and closes at 5:00 PM EST, and operates from Sunday to Friday. There is a one hour window daily where the market closes on weekdays. 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 many others.

Understanding Gold Investment Options and Pricing

What is the difference between numismatic value and gold bullion value?

Once you start investing in gold, you’ll quickly learn that not all investments are created equal. For instance, you can invest in both historic gold coins and in bullion coins. With the former, the gold bullion price is only part of the cost you’ll pay. These coins have numismatic value – they’re collector’s items. So, the price paid for a historic gold coin will usually be significantly higher than what you’d pay for a bullion coin fresh from the mint. There are bullion coins minted (called “rounds”) that have no numismatic value, and the cost is based solely on the gold bullion price and the markup of the dealer. These are pure investment grade options. Note that coins like the Canadian Gold Maple Leaf and the US Mint Gold Eagle are actual currency, and even when freshly minted, have some numismatic value in addition to their gold bullion price. So, the cost of these coins will likely be higher than a round or bar that is not actual currency.

What is a sovereign gold bullion coin?

Many governments around the world mint gold coins for collection, and they are legal tender for use in those nations. With that being said, you’re not going to come across many people attempting to pay for their groceries with a Gold Eagle or a Gold Krugerrand coin. Sovereign gold coin prices are based on gold bullion prices, but also have numismatic value, as mentioned previously. These may be new coins, such as the Gold Krugerrand (South Africa), or the Canadian Gold Maple Leaf, or they could be historic coins, such as the Saint Gaudens gold coin. The Saint Gaudens gold coin is one of the most collected gold coins every made by the US Mint. The rarer the coin and the better its condition, the higher its numismatic value. This is added to the gold price to determine the overall value of the coin. As a note, coins with high numismatic value are not particularly good for newbie investors, as a great deal of their value is based on sentiment, and can vary depending on the market. If you are interested in purchasing similar coins for investment purposes, opt for newer sovereign gold bullion coins rather than historic coins.

How do I compare the current price of gold?

Gold is sold in many different forms, and when comparing or tracking the live gold price, you must ensure that you’re comparing “apples to apples”. For instance, you might find gold offered in both ounces and in grams. Obviously, the price for each would be different because the weights are not the same. The volume of gold in each option differs. So, comparing the price for a troy ounce of gold to the price of gold per gram would not do you much good. Instead, make sure you’re tracking and comparing troy ounces to troy ounces (the standard for gold in the US and many other international markets). You also need to remember that even with freshly minted sovereign gold coins like the Australian Kangaroo Gold coin, the price will be higher than the spot price of gold. Again, this is due to the numismatic value of the coin on top of the cost of the gold contained within it, plus dealer markup.

Other Forms of Gold Investment

When you check a gold price chart, you may be tempted to put your money into something other than the physical metal. There are plenty of choices out there, but they may not measure up to your expectations.

What’s the difference between gold futures and bullion?

Gold futures contracts are really nothing more than 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 gold price you’ll pay will be significantly higher than buying just a single ounce (most futures are for 100 troy ounces), 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.

Are gold futures the same as buying physical gold?

While gold future prices will be similar to the gold bullion price, it is important to understand that these are not the same as owning the physical metal. 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. The number of “good delivery” bullion products available in this manner is very limited, and you’ll not only pay the gold bullion price, but also a host of additional fees and charges before you can take delivery.

Is an ETF the same thing as buying physical gold bullion?

No, they’re not the same at all. Yes, you can invest in ETFs if you prefer. However, it is important to understand that this will not provide you with gold that can be touched and held. ETFs are backed by gold, but you will likely not pay the gold bullion price for your investment. They are priced very differently, and they trade on the market in a completely different manner than physical gold, as well. They’re also affected by other forces, so they may not make a good investment choice for your specific situation. If you’re considering an ETF rather than physical bullion, think long and hard about it. Most investors prefer owning the metal itself.

Why is the price of gold lower if I don’t use a credit card?

Gold dealers work with tight margins. Because the spot price of gold is common knowledge and readily available, dealers cannot put too much markup on their products, particularly with investment grade bullion rather than numismatic coins. If a dealer accepts credit cards, then he or she must pay fees to the credit card companies. Those fees must be worked into the gold coin prices they charge, meaning that they would be higher than competitors who do not accept credit or debit cards. You’ll get the best gold price per ounce by paying with a check, bank transfer or similar means. This results in a significant savings over paying with a card.

Why do gold bullion coins with face value cost more than rounds?

There are quite a few different bullion coins out there that have face values. These are sovereign bullion coins, and they are legal tender within their country of origin. However, their value is actually based on the price of gold, and not on their face value. A $20 gold coin is actually worth many times more than the face value due to the amount of metal within the coin. So, when you buy such coins, you’ll pay the gold price plus any markup from the dealer, rather than just the face value of the coin.

What are the best options if I’m new to buying gold and just want to amass a store of value?

If you’re new to the world of investing in gold and are simply trying to build your nest egg without worrying about collectability, there are quite a few different options that can work. In this instance, your best choices would be gold bullion coins or gold bullion bars. They are not collectible items, and their value is tied directly to the price of gold. Bars are generally the most cost-effective way to buy gold, followed by bullion coins.

For instance, if you compare a Gold American Eagle to a one ounce gold bar, both contain the same amount of gold. However, the cost for the Gold American Eagle coin will typically be higher than the bar due to its numismatic value. You can save a considerable amount of money per ounce of gold when buying standard bars and bullion coins over numismatic coins. With that being said, you may actually pay more for fractional bars than with one ounce and one kilo options simply because it costs mints more to make fractional (smaller) items.

However, if you are interested in the art or collectability of other options, then you might consider actual coins. You can find many current options on the market, minted by the United States Mint, Royal Canadian Mint, British Roayl Mint, South African Mint, Australian Perth Mint and numerous other countries. These are legal tender, and their value is tied at least partially to the USA gold price. However, because they are actual coins, they also have some numismatic value and can appreciate beyond what rounds or bars will likely ever attain because of that. In addition to currently minted coins, there are also historical coins that have additional value due to their rarity.

Is the price of gold I’m quoted going to be the price I pay?

Gold prices change, and they can change quickly, even by the minute. This makes the prospect of buying gold a little nerve-wracking for some investors new to the process. 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 dealers lock in the price when you’re order is locked, so that will be the price of gold you pay. 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 make your purchase and keep the current price of gold. If you take too long, the lock-in is removed, and you’ll pay the new price of gold instead (if the gold prices changes during that time frame). However, understand that not all dealers offer price lock-ins, so verify this before making any purchase decisions.

How do current gold and silver prices relate to one another?

While silver prices are far lower than gold prices, it can sometimes appreciate substantially. Savvy investors should compare the current gold and silver prices to determine the gold/silver ratio at the moment. Depending on the results of that investigation, they may purchase gold, silver or both.

Will I get a better gold price per ounce from a local dealer?

There’s a lot to be said for shopping locally. However, if you’re interested in saving money and getting the best possible price for an ounce of gold, the Internet is generally the best bet. Online dealers have lower overhead and deal in bulk, so they are able to offer a lower markup on their coins, rounds and bars. This translates to savings for you. Additionally, online dealers generally provide more up to date live gold prices and information on other precious metals, whereas a local shop may or may not be current. Add to that the fact that most local coin shops specialize in numismatic options (collectible coins) rather than in bullion coins or bars, so you may be out of luck if you want just an investment-grade option. In the end, it can be more riskier to buy from a local coin shop.

What are the differences in grams and ounces when applied to gold bullion?

All gold prices are based on troy ounce basis. However, you’ll find bars available in gram sizes, as well as kilograms. Understanding how a troy ounce breaks up into these other forms is important to ensure that you’re getting a good deal. A troy ounce is 31.103 grams. So, a one-gram bar is only a very small fraction of a troy ounce. There are 32.151 troy ounces in a kilogram bar. It’s also important to understand that a troy ounce is different from a standard ounce. A standard ounce is actually 28.35 grams, so a troy ounce is slightly heavier.

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