Spot Gold Price Today
View the live spot gold price per troy ounce, gram, and kilogram. This is the current price at which a raw ounce of gold can be bought and sold for immediate delivery in the commodities markets. The spot price fluctuates due to global trading, making it important to stay informed on market conditions, current events and other metrics, as they affect both selling and buying of gold. Dealers add a premium to this price to cover their overhead.
| Gold Spot Price | Today | Change |
|---|---|---|
| Price Per Ounce | $2733.95 | $14.54 |
| Price Per Gram | $87.90 | $0.47 |
| Price Per Kilo | $87896.49 | $452.24 |
Spot Gold Prices for the Last 30 days
Gold Price News
What is 'Spot Gold Price'
Gold and other precious metals are commodities that are traded in global financial markets. Trading is done based on commodities 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 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.
Spot prices are determined by the most recent trade in a continuous live market, reflecting the equilibrium between supply and demand. This price can change rapidly as new information becomes available and as various macroeconomic and geopolitical factors evolve. The gold spot price serves as a benchmark for buyers and sellers. For instance, the prices of retail gold products, like coins or bars, are often set based on the gold spot price plus a premium to account for production costs, dealer markup, etc.
The spot price plays a critical role in the derivatives market. For example, the difference between the spot price of gold and the future price represents the time value of the commodity, costs of carry, and expectations about future supply and demand. Factors that can influence the gold spot price include geopolitical events, interest rates, currency strength, economic data, and overall global economic health. For precious metals, additional influences might include mining costs, discoveries of new reserves, and any shifts in industrial usage or demand from investors.
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
Spot Gold Price Per Troy Ounce
The current live gold spot price is 2733.95 per troy ounce.
| Karat | Purity | 1 oz | 1/2 oz | 1/4 oz | 1/10 oz | Per Gram |
| 24 karat | 100.00% | $2733.95 | $1366.97 | $683.49 | $273.39 | $87.90 |
| 22 karat | 91.67% | $2504.30 | $1252.15 | $626.07 | $250.43 | $80.51 |
| 18 karat | 75.00% | $2050.46 | $1025.23 | $512.62 | $205.05 | $65.92 |
| 14 karat | 58.33% | $1599.36 | $799.68 | $399.84 | $159.94 | $51.42 |
| 10 karat | 41.67% | $1140.06 | $570.03 | $285.01 | $114.01 | $36.65 |
| 9 karat | 37.50% | $1025.23 | $512.62 | $256.31 | $102.52 | $32.96 |
* Gold spot price is updated every minute
How many grams in an ounce of gold?
There are 31.1035 grams in one troy ounce of gold. This measurement is specific to precious metals and is different from the standard avoirdupois ounce used in most other applications, which equals 28.35 grams. While the troy ounce is the standard unit of measurement used in the precious metals industry, some countries track gold price by gram.
What is a troy ounce?
The troy ounce originates from the Roman monetary system and was used throughout the Middle Ages in Europe. The term "troy" is believed to be derived from the city of Troyes in France, a major trading hub in the 9th and 10th centuries where merchants from around the world would trade goods.
The troy system was later adopted by the British and other countries for weighing precious metals like gold, silver, and gemstones. In 1527, King Henry VIII officially adopted the troy ounce as the standard unit of measure for gold and silver in England, further solidifying its use in precious metal transactions.
Troy ounce facts
- 1 troy oz is the same as 31.1034768 grams, compared with an avoirdupois ounce, which is 28.3495 grams.
- There are 12 troy ounces in 1 troy pound.
- The troy ounce is often abbreviated as "t oz" or "oz t".
- The troy ounce is roughly 10% heavier than the avoirdupois ounce.
- Precious metal prices are almost always quoted in troy ounces.
Where did the Troy Ounce Originate?
The system was introduced to England in the 9th Century by traders doing business with Byzantine Empire. The system was named after the Roman trading city of Troyes in France, a major trading city in 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. By the 1400s, the troy weight system was officially adopted in England for the trading and weighing of precious metals. The British Pound Sterling, originally denoting a pound of sterling silver, reflects this ancient connection between weight and currency. The troy measurement system became the official standard for gold and silver in Britain in 1527 under King Henry VIII.
It's worth noting that the troy ounce is heavier than the more common avoirdupois ounce that is used to weigh most other items in the U.S. The troy system's division into 12 ounces (reflecting the old Roman libra) is also in contrast to the avoirdupois system's division of 16 ounces to a pound.
Today, the troy weight system is used almost exclusively in the precious metals industry. When you buy an ounce of gold or silver, it's a troy ounce. Similarly, when precious metals are mined, they're weighed using the troy system.
