How the gold price is set
Gold trades around the clock, moving from Asian markets to London and then New York. The price you see quoted is the spot price: the cost of one troy ounce of pure gold for immediate delivery, in US dollars. London's LBMA Gold Price, set twice each business day in an electronic auction, is the benchmark used by central banks, refiners and dealers, while COMEX futures in New York set the pace during American trading hours.
Our charts show daily closing prices of COMEX gold futures in US dollars, which follow the spot price very closely.
What moves the price of gold
Gold pays no interest, so it tends to do well when interest rates fall and when inflation erodes the value of cash. A weaker US dollar usually lifts the gold price, while a stronger dollar tends to hold it back.
Demand also matters. Central banks bought more than 1,000 tonnes of gold a year in 2022, 2023 and 2024, and buyers in China and India remain the world's largest markets for gold bars, coins and jewelry. In times of war, financial stress or political uncertainty, investors often turn to gold as a store of value, which can push the price up quickly.
The gold price per ounce, gram and kilo
The gold price is quoted per troy ounce, and the prices per gram and per kilo shown on this page are worked out from it. One gram is 1/31.1035 of a troy ounce, so the price per gram is the ounce price divided by 31.1035. A kilo is 32.15 troy ounces, so the price per kilo is about 32.15 times the ounce price.
These figures are for pure gold at the spot price. They are useful for comparing products of different sizes: dividing a product's price by its fine gold content shows how much you are paying per ounce or per gram of gold.
Spot price and the price you pay
The spot price is the price of the raw metal. Coins and bars cost a little more, because minting, packaging, insurance and distribution add a premium. Premiums are lower on larger bars and higher on small coins and bars, where those costs are spread over less gold.
Every product in our shop is priced in US dollars from the live spot price plus a stated premium. When you check out, your price is locked for 10 minutes while you confirm your order, and you then pay by domestic wire transfer or ACH. We don't currently charge sales tax; rules vary by state, so check your own state's rules.
Gold weights: troy ounces, grams and kilos
Gold is weighed in troy ounces. One troy ounce is 31.1035 grams, about 10% heavier than an ordinary ounce. A kilo bar holds 32.15 troy ounces. Gold bars are sold both by the ounce and by the gram: 1 g, 5 g, 10 g, 20 g, 1 oz, 50 g and 100 g are popular sizes.
Purity is given as fineness in parts per thousand. Investment bars and most modern coins are 999.9 fine, which is 24 karat. Some well-known coins, such as the Krugerrand, the American Eagle and the Sovereign, are 22 karat (916.7), alloyed with copper for durability, but still contain their full stated weight of pure gold.
Frequently asked questions
What is the gold price today?
One troy ounce of gold currently costs about $4,160.30 at the spot price, before any premium or sales tax. Prices on this page update with the live market.
Why is gold priced per troy ounce?
The troy ounce (31.1035 g) has been the standard unit for precious metals for centuries, and it is still the unit used by the London and New York markets. Prices per gram or kilo are simply converted from it.
Is the price on the chart the price I pay for a coin or bar?
No. The chart shows the spot price of the metal. Coins and bars sell for spot plus a premium that covers minting and distribution. Each product page shows its premium and the live price in US dollars.
How often are the gold prices updated?
The live gold price used across the shop updates every minute. The charts use daily closing prices and are refreshed every few hours.
How do I work out the gold price per gram?
Divide the price per troy ounce by 31.1035. For example, if gold is $3,110.35 an ounce, it is $100.00 a gram. This page shows the live price per gram and per kilo alongside the ounce price.
