What Is the Spot Price of Gold and How Is It Set?
The spot price of gold is the current market price for one troy ounce (31.1035 grams) of pure, investment-grade gold traded for immediate settlement. It is quoted in US dollars and updates continuously while global markets are open — roughly 23 hours a day, five days a week.
Where does the spot price come from?
There is no single exchange that sets the spot price. It emerges from trading in several deep markets: the London over-the-counter market (where banks trade 400-ounce bars), futures exchanges such as COMEX in New York and the Shanghai Gold Exchange, and electronic trading platforms. Data providers combine these quotes into the live price shown on this site.
Twice a day, the LBMA Gold Price auction in London produces a benchmark (the AM and PM fixes) that is widely used for contracts, central bank valuations and fund pricing.
Why does the spot price move?
- US dollar strength: gold is priced in dollars, so a weaker dollar usually lifts the gold price.
- Interest rates and inflation: lower real interest rates reduce the opportunity cost of holding gold.
- Central bank buying: official sector demand has been a major driver in recent years.
- Risk sentiment: geopolitical stress and market turmoil tend to increase safe-haven demand.
- Physical demand: jewellery, technology and investment demand from India, China and the Middle East.
Spot price vs. retail price
Coins, bars and jewellery sell above spot. The difference — the premium — covers minting, distribution, dealer margin and, for jewellery, craftsmanship. Small items such as 1-gram bars and fractional coins carry the highest premiums per gram. When you sell, dealers typically pay slightly below spot.
How to use our live price
Use the currency and unit selectors at the top of any price page to see the spot price per ounce, gram, kilogram, tola or local unit in more than 150 currencies, and the karat tables to estimate the value of 22K, 21K or 18K jewellery by its fine-gold content.