Current value of gold per ounce

America's trusted name in coin and bullion trading for 50 years. If you have difficulty reaching your Monex account representative, please email us at info monex. Of all the precious metals, gold is perhaps one of the most widely known. Throughout everyday life, we see examples of people assimilating the idea that gold is tied to wealth.

BullionVault's Gold Price Chart

The price of gold is moved by a combination of supply, demand, and investor behavior. That seems simple enough, yet the way those factors work together is sometimes counterintuitive. For instance, many investors think of gold as an inflation hedge.

As it happens, gold mining doesn't add much to supply from year to year. So, what is the true mover of gold prices? Economists Claude B. It turns out that gold doesn't correlate well to inflation. So, if inflation isn't driving the price, is fear? Certainly, during times of economic crisis, investors flock to gold. When the Great Recession hit, for example, gold prices rose. That said, gold prices rose further, even as the economy recovered.

That essentially means that, as more people buy gold, the price goes up, in line with demand. Some forces affect the supply of gold in the wider market, and gold is a worldwide commodity market , like oil or coffee. Unlike oil or coffee, however, gold isn't consumed. Almost all the gold ever mined is still around and more gold is being mined each day. So, why doesn't it? As Peter Hug, director of global trading at Kitco , said, "It ends up in a drawer someplace.

Even though countries like India and China treat gold as a store of value , the people who buy it there don't regularly trade it few pay for a washing machine by handing over a gold bracelet. Instead, jewelry demand tends to rise and fall with the price of gold.

When prices are high, the demand for jewelry falls relative to investor demand. In times when foreign exchange reserves are large, and the economy is humming along, a central bank will want to reduce the amount of gold it holds.

That's because the gold is a dead asset—unlike bonds or even money in a deposit account, it generates no return. The problem for central banks is that this is precisely when the other investors out there aren't that interested in gold. Thus, a central bank is always on the wrong side of the trade, even though selling that gold is precisely what the bank is supposed to do. As a result, the price of gold falls. Central banks have tried to manage their gold sales in a cartel-like fashion, to avoid disrupting the market too much.

The Washington Agreement was signed on Sept. A second version of the agreement was signed in , then extended in Both ETFs trade on the exchanges like stock and measure their holdings in ounces of gold.

Speaking of portfolios, Hug said a good question for investors is what the rationale for buying gold is. As a hedge against inflation, it doesn't work well. It's simply important to recognize what it can and cannot do. On the other hand, the investors who bought it in or would be happy selling now. The total number of gold ounces one holds should fluctuate with the price. One good thing about gold: it does retain value. Erb and Harvey compared the salary of Roman soldiers 2, years ago to what a modern soldier would get, based on how much those salaries would be in gold.

Roman soldiers were paid 2. Army private gets about 11 ounces of gold at current prices. That's an annual investment growth rate of about 0. The rate of return of 0. If you're looking at gold prices, it's probably a good idea to look at how well the economies of certain countries are doing.

As economic conditions worsen, the price will usually rise. National Bureau of Economic Research. Accessed March 25, Your Money. Personal Finance. Your Practice. Popular Courses. Part Of. Introduction to Gold. Investing in Gold. Trading Gold. Gold and Retirement. Commodities Gold.

Table of Contents Expand. Correlation to Inflation. Supply Factors. Central Banks. Portfolio Considerations. Retaining Value. The Bottom Line. Key Takeaways Supply, demand, and investor behavior are key drivers of gold prices.

Gold is often used to hedge inflation because, unlike paper money, since its supply doesn't change much year to year. Studies show that gold prices have positive price elasticity, meaning the value increases along with demand.

However, the investment growth rate of gold over the past 2, years has not been meaningful, even as demand has outpaced supply. Since gold often moves higher when economic conditions worsen, it is viewed as an efficient tool for diversifying a portfolio. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts.

We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.

Related Articles. Gold 8 Reasons To Own Gold. Gold What Drives the Price of Gold? Gold 5 Ways to Buy Gold. Partner Links. Related Terms Inflation Inflation is a general increase in the prices of goods and services in an economy over some period of time. Bullion Definition Bullion refers to gold and silver that is officially recognized as being at least Silver ETF A silver exchange-traded fund ETF invests primarily in raw silver assets, which are held in a trust by the fund manager or custodian.

Gold Price per Gram. Gold Price per Kilo.

Close 1, Because of its physical properties, it is resistant to air, moisture, heat and many solvents. Gold also has a high density. Gold is regarded as a secure investment and is very popular as a means of coverage in times of crisis. Its high value and its rarity and uniqueness make gold a secure financial investment which also withstands inflation.

The price of gold is moved by a combination of supply, demand, and investor behavior. That seems simple enough, yet the way those factors work together is sometimes counterintuitive.

We are providing the latest prices in the current exchange rate. An ounce is a standard unit for measuring precious metals. The gold has been used as currency for many centuries, and its code is XAU, while its chemical symbol is Au.

What Moves Gold Prices?

Gold has been considered precious throughout history, but it wasn't used for money until around B. If they found gold, they could get the government to make tradable coins out of it. Because of its value and its usefulness as currency, the evolving value of gold can be traced back as far as 30 B. This article tracks the price of gold from 30 B. Emperor Augustus, who reigned in ancient Rome from 31 B. In other words, a pound of gold could make 45 coins.

Gold Price Today

African Rand www. This is a classification of specific metals that are considered rare and have a higher economic value compared to other metals. There are five main precious metals openly traded on various exchanges, gold is the biggest market. Gold is sometimes referred to as monetary metals as it has historical uses as a currency and is seen as a store of value. The spot gold price refers to the price of gold for immediate delivery. Transactions for bullion coins are almost always priced using the spot price as a basis. The spot gold market is trading very close to 24 hours a day as there is almost always a location somewhere in the world that is actively taking orders for gold transactions. For the high and low values, we are showing the lowest bid and the highest ask of the day. The gold futures market is one of a number of commodity futures, wherein contracts are entered into, agreeing to buy or sell gold at a certain price at a specified future date.

Spot gold gained by 0.

By creating an account, you are agreeing to the Terms of Service and the Privacy Policy. To the right are live gold spot prices per troy ounce, gram, and kilogram. You can also see hour trends for each weight. Share live gold prices with your website followers or on your blog, using our free gold price widget.

Gold Prices Today

The current price per unit of weight and currency will be displayed on the right. The Current Value for the amount entered is shown. Totals for Gold and Silver holdings including the ratio percent of gold versus silver will be calculated. The spot price of Gold per Troy Ounce and the date and time of the price is shown below the calculator. If your browser is configured to accept Cookies you will see a button at the bottom of the Holdings Calculator. Pressing the button will place a cookie on your machine containing the information you entered into the Holdings Calculator. When you return to goldprice. 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. 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. 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. The nearest month contract with the most trading volume is used to determine the spot 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.

Gold Spot Price & Charts

The current price per unit of weight and currency will be displayed on the right. The Current Value for the amount entered is shown. Totals for Gold and Silver holdings including the ratio percent of gold versus silver will be calculated. The spot price of Gold per Troy Ounce and the date and time of the price is shown below the calculator. If your browser is configured to accept Cookies you will see a button at the bottom of the Holdings Calculator.