Gold Spot Prices for the Last 30 days
What is Gold 'Spot Price'
Gold and other precious metals are commodities that are traded in global financial markets. Trading is done based on contracts for the future delivery of the precious metals. The spot price of gold is the price that it is currently trading at based on the future delivery of the commodity contract. By being traded as futures on the COMEX, Shanghai or LBMA market, most gold is sold long before it is even mined or refined into bullion products.
Precious metals bullion dealers buy, sell and price their products based on the spot ask and buy prices. The spot price of gold refers to the price of one troy ounce of gold. The gold must be of specific fineness and meet other institutional requirements in order to be traded.
The spot ask price is what people, commodity traders and bullion dealers is the gold spot price that they will be selling at per ounce. The buy spot price is the price at which the same groups will be buying gold.
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Gold Purities and their live gold spot price
Gold Spot Price Per Troy Ounce
The current live gold spot price is 1922.70 per troy ounce.
| Karat | Purity | 1 oz | 1/2 oz | 1/4 oz | 1/10 oz | Per Gram |
| 24 karat | 100.00% | $1922.70 | $961.35 | $480.68 | $192.27 | $61.82 |
| 22 karat | 91.67% | $1761.19 | $880.60 | $440.30 | $176.12 | $56.62 |
| 18 karat | 75.00% | $1442.03 | $721.01 | $360.51 | $144.20 | $46.36 |
| 14 karat | 58.33% | $1124.78 | $562.39 | $281.19 | $112.48 | $36.16 |
| 10 karat | 41.67% | $801.77 | $400.88 | $200.44 | $80.18 | $25.78 |
| 9 karat | 37.50% | $721.01 | $360.51 | $180.25 | $72.10 | $23.18 |
What is a troy ounce?
A troy ounce is a unit of measure for weighing precious metals that dates back to the Middle Ages. Originally used in Troyes, France, the troy ounce is now the standard unit of measure for precious metals like gold, silver, and platinum.
One troy ounce is the equivalent of 31.1034768 grams, which is a little more than the standard avoirdupois ounce that weighs 28.3495 grams. There are 12 troy ounces in a troy pound, rather than 16 ounces found in the 'avoirdupois' pound more commonly used for measuring weight in the United States.
The Troy Ounce, abbreviate as "t oz" or "oz t", is roughly 10% heavier than the avoirdupois ounce. When you see precious metal prices quoted, such as the spot price of gold or silver, it is typically quoted per troy ounce.
Where did the Troy Ounce Come From?
The troy ounce originated from the French town of Troyes, a major trading hub during the Middle Ages. This system of measurement spread throughout Europe for the trade and exchange of precious metals.
The troy system was introduced into England following the Norman Conquest in 1066, and it became the official standard for gold and silver in Britain in 1527 under King Henry VIII.
Many aspects of the troy weight system are derived from the Roman monetary system. Troyes was a market town where the English and French began trading goods as early as the 9th century A.D. The Earl of Derby's written accounts of his travels throughout Europe in 1390 contain the first known written use of the troy weight system in describing the weight of a silver platter.
