Gold Price per Ounce (2024)

On this page you can view the current price of gold per ounce, gram or kilo. Gold is usually quoted by the ounce in U.S. Dollars. The gold price can, however, be quoted in any currency by the ounce, gram or kilo. The price of gold is constantly on the move and can be affected by many different factors.

Is the Gold Price the Same as the Spot Price?

When looking at gold prices, the figures quoted are typically going to be spot gold prices unless otherwise specified. The spot gold price refers to the price of gold for delivery right now as opposed to some date in the future. Spot gold prices are derived from exchange-traded futures contracts such as those that trade on the COMEX Exchange. The nearest month contract with the most trading volume is used to determine the spot gold price.

Why do Investors Care About the Gold Price?

As with any other type of investment, those looking to buy gold want to get the best deal possible, which means buying gold at the lowest price possible. By watching gold prices, investors can look for trends in the gold market and also look for areas of support to buy at or areas of resistance to sell at. Because gold pretty much trades around the clock, the gold price is always updating and can even be viewed in real time.

Why are Gold Prices Always Fluctuating?

The price of gold is in a constant state of flux, and it can move due to numerous influences. Some of the biggest contributors to fluctuations in the gold price include:

  • Central bank activity
  • Monetary policy
  • Interest rates
  • Currency market activity
  • Inflation/deflation
  • Geopolitics
  • Risk appetite or aversion
  • Jewelry demand
  • Investment demand

Currency markets can have a dramatic effect on the gold price. Because gold is typically denominated in U.S. Dollars, a weaker dollar can potentially make gold relatively less expensive for foreign buyers while a stronger dollar can potentially make gold relatively more expensive for foreign buyers. This relationship can often be seen in the gold price. On days when the dollar index is sharply lower, gold may be moving higher. On days when the dollar index is stronger, gold may be losing ground.

Interest rates are another major factor on gold prices. Because gold pays no dividends and does not pay interest, the gold price may potentially remain subdued during periods of high or rising interest rates. On the other hand, if rates are very low, gold may potentially benefit as it keeps the opportunity cost of holding gold to a minimum. Of course, gold could also move higher even with high interest rates, and it could move lower even during periods of ultra-low rates.

Monetary policy can also affect the gold price. If a government is actively engaged in quantitative easing or other stimulus programs, those programs may potentially weaken the country’s currency, possibly making gold more attractive. In addition, such QE programs also add to sovereign debt levels, potentially also making hard assets like gold more attractive.

Is the Live Gold Price Just for the U.S.?

Gold is traded all over the globe, and is most often transacted in U.S. Dollars. Gold can, however, also be transacted in any other currency after appropriate exchange rates have been accounted for. That being said, the price of gold is theoretically the same all over the globe. This makes sense given the fact that an ounce of gold is the same whether it is bought in the U.S. or Asia.

The price of gold is available around the clock, and trading essentially never ceases. While investors in the U.S. are sound asleep, for example, gold trading in Asian markets may be robust. The market is very transparent, and live gold prices allow investors to stay on top of any significant shifts in price.

The current gold price can be readily found in newspapers and online. Although prices per ounce in dollars are typically used, you can also easily access the gold price in alternative currencies and alternative weights. Smaller investors, for example, may be more interested in the price of gold per gram than ounces or kilos. Larger investors who intend to buy in bulk will likely be more interested in the gold price per ounce or kilo. Whatever the case may be, live gold prices have never been more readily accessible, giving investors the information they need to make buying and selling decisions.

Gold Price per Ounce (2024)

FAQs

Gold Price per Ounce? ›

Historically, Gold reached an all time high of 2600.14 in September of 2024. Gold - data, forecasts, historical chart - was last updated on September 19 of 2024.

How much is 1 oz of gold right now? ›

$2,573.00

What is the highest price of gold in history? ›

Historically, Gold reached an all time high of 2600.14 in September of 2024. Gold - data, forecasts, historical chart - was last updated on September 19 of 2024.

Will gold go to 5000 an ounce? ›

Kiyosaki presents a nuanced forecast for gold prices, predicting them to reach $3,700 in 2024 and $5,000 in 2025.

How much is 14k gold worth per ounce? ›

The current 14k gold price is $47.91 per gram or $1490.15 per ounce. If you plan to sell your 14k gold, today's buyback gold price is currently $43.56 per gram and $1354.68 per ounce. For consumers, having a basic understanding of pricing can simplify their decision-making process.

Is gold going up or down? ›

Gold weekly price forecast as of 16.09.2024

Gold continued its medium-term uptrend last week. The price has breached the range between the upper Target Zone 6, 2536 - 2526, and the support 2476. Now, the Target Zone 7, 2641 - 2631, is the bullish target. Consider long trades on a correction.

Is 1 oz of gold a good investment? ›

And like all gold investments, 1-ounce bars can serve as a hedge against inflation. That means buying in now, while inflation remains high, could deliver big benefits.

Will gold ever hit $3,000 an ounce? ›

Gold could reach $3,000 per ounce by mid-2025 and $2,600 by the end of 2024 driven by U.S. interest rate cuts, strong demand from exchange traded funds and over-the-counter physical demand, said Aakash Doshi, head of commodities, North America at Citi Research.

Is it good to buy gold now? ›

Investing in gold can often be a prudent choice for those seeking to diversify their portfolios, hedge against inflation, and protect their assets during economic uncertainty. Gold's enduring value and its role as a safe haven asset make it a compelling investment, particularly in volatile or unpredictable markets.

What investment is better than gold? ›

Silver is more affordable than gold, making it an accessible way to diversify your investments. It's also widely used in industries, which means its value has the potential to grow based on market demand. Platinum's value comes from its rarity and industrial use, particularly in automotive manufacturing.

What happens to gold if the dollar collapses? ›

Gold is often considered a store of value and safe investment during times of financial uncertainty and inflation because its worth isn't directly tied to any country's economy or the strength of the dollar, making it a reliable asset during economic collapses.

Where will gold be in 5 years? ›

Predictions for gold prices over the next 5 years
YearPredicted Price Range (per ounce)
2024Rs. 1,55,000 - Rs. 1,71,000
2025Rs. 1,63,000 - Rs. 1,79,000
2026Rs. 1,67,000 - Rs. 1,83,000
2027Rs. 1,71,000 - Rs. 1,87,000
1 more row
Jun 12, 2024

What will gold be worth in 2025? ›

$2,300 to $3,100

How much should I pay for gold per ounce? ›

$2,597.30 USD

What is 1 oz of gold worth now? ›

Currently, the US dollar spot price for 1 ounce of gold is $2,589.21 and in Canadian dollars C$3,510.06. However, it's possible to track the real-time changing price of gold, plus daily, weekly, monthly and yearly gold price trends using BullionVault's live gold price chart.

How much can I sell a 14k gold ring for? ›

Today's gold value to calculate your ring's value

10 karat gold: $31.02 per gram and $48.09 per dwt. 14 karat gold: $43.63 per gram and $67.62 per dwt. 18 karat gold: $55.93 per gram and $86.70 per dwt.

How much is 24K gold worth today? ›

Today 24 Carat Gold Rate Per Gram in United States (USD)
GramTodayYesterday
1USD83.50USD83.50
8USD668USD668
10USD835USD835
100USD8,350USD8,350

How much is 1 ounce of 18k gold worth? ›

18k 750 Gold Price per Gram & Ounce
Price per GramPrice per Ounce
18k 750 yellow gold$55.94$1739.72
18k 750 white gold$55.94$1739.72

What gold coin is worth 1 oz? ›

American Eagles 1 Ounce
Weight:Spot Price:Buy Price:
1.00 oz$ 2,579.44$ 2,716.15

Is 1 oz of 24 karat gold? ›

A troy ounce contains 31.1035 grams of 24 karat pure gold and there are approximately 32.15 troy ounces in a kilogram.

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