Live Gold Price Today
Gold price per ounce, gram & kilo
OneGold's live gold price chart is updated every 60 seconds and shows real-time gold price data. You can view the gold price today or select another timeframe to view historical gold prices per ounce. Gold prices may be viewed for any date within the last 30 years in the interactive chart. Simply click on the date range to view gold price movements for that time period. You can also hover your mouse over the gold price chart to see the specific price of gold for each day.
|Live Gold Price||Gold Price Today||Gold Change|
Live Gold, Silver and Platinum Spot Price
Gold Historical Spot Prices
Annual Gold Prices and % Returns by Currency
Below are the historical year-end prices for gold in USD, EUR, GBP, CAD, AUD and JPY. You can also see the annual percentage returns as measured in each currency.
What is a Spot Price?
The spot price of gold is the current price that one unit of gold can be bought and sold for immediate delivery. In other words, the spot price of gold is the price of gold today. Like other financial assets such as stocks, bonds, currencies and commodities, the spot price of gold fluctuates throughout the week. Unlike a stock, which has a ticker symbol, the price of gold is often calculated from a futures contract price on the Commodities Exchange, or COMEX. A futures contract is a contract for delivery of gold at a future month. As a result, calculations are made to the futures price to determine the spot price or the price of gold today.
Gold Price in Ounces, Grams and Kilos
Depending on which country you are located in, the gold price is typically quoted in troy ounces, grams or kilos. Fortunately, it is easy to convert the gold price from one unit to another with the following conversion table.
|Starting Unit||Ending Unit
|Troy Ounce||--||Divide by 31.103478||Multiply by 32.150743|
|Gram||Multiply by 31.103478||--||Multiply by 1,000|
|Kilo||Divide by 32.150743||Divide by 1,000||--|
In the United States, the gold price is typically quoted as a troy ounce. If the gold price were $1,800 USD per troy ounce and you wanted to convert the price to kilos, you would simply take the $1,800 price and multiply it by 32.150743 to get roughly $57,871 per kilo. Similarly, if you wanted to convert the price to grams, you would take the $1,800 and divide it by 31.103478 to get roughly $58 per gram.
Avoirdupois Ounce vs Troy Ounce
Not all ounces are the same. When people say "ounce" in their day to day lives, they are typically referring to the avoirdupois ounce, which is an Ancient Roman unit of measurement of approximately 28.3 grams. A troy ounce, on the other hand, is a unit of measurement used for precious metals dating back to the middle ages in Troyes, France. A troy ounce is heavier than an avoirdupois ounce and weighs approximately 31.1 grams. An investor should note that when the gold price, silver price or platinum price is quoted in "ounces", the "ounce" refers to the troy ounce and not the avoirdupois ounce. In addition, the most popular gold coins and gold bars, such as the Gold American Eagle, Gold Maple Leaf, Gold Kruggerand, Gold Pamp Suisse Bar, and Gold Credit Suisse Bar, are weighted in troy ounces and will state their weight in "ounce" or "oz".
Gold Price in Different Currencies
Whether you're in North America, Europe, the Middle East, Asia, Australia or another part of the world, there will likely be demand for gold in your country. Gold will have the same "spot price" in different countries around the world. What will change is the currency that the spot price is quoted in.
Fortunately, if you have the spot price of gold in one currency, it is easy to calculate the spot price in another currency if you have an exchange rate. For example, let's say the gold price is $1,800 USD and the EUR/USD exchange rate is 1.17. To calculate the gold spot price in Euros, you would simply take the $1,800 USD price and divide it by 1.17 to arrive at €1,538.
What is Gold?
If you look up "gold" in a dictionary or encyclopedia, you will likely get something like gold is a chemical element with symbol Au and atomic number 79. Unfortunately, this is not very useful for an investor. For investors, gold is a commodity. Investors may choose to own commodities for a variety of reasons, including getting exposure to another asset class, diversification, or speculation.
What Makes Gold Valuable?
At just under $2,000 an ounce in 2021, gold by weight is one of the most expensive items money can buy. The most expensive caviar, Beluga caviar, typically sells for about $200 to $300 per ounce. A brand-new Rolls Royce, which starts at over $450,000, if valued based on its weight, would sell for about $5 per ounce. Why do investors value gold so highly? The reason is demand.
The US Dollar can be viewed as just a piece of paper or digits on a computer screen. Similarly, gold can be viewed as just a shiny piece of metal. The US Dollar has value because people around the world want it. Without this global demand, the US Dollar would have no value. Similarly, countries and societies around the world want gold as well. This demand is what drives the price of gold.
The demand for gold began at the dawn of civilization. Since gold must be extracted from the earth and cannot be manufactured at will, people used precious metals to store their wealth due to their limited supply. This practice has continued throughout history and still to today. With gold being traded on the global market with no single country controlling it, gold's purchasing power has remained stable in the face of inflation.
But I can't spend or eat my gold.
One of the common arguments against gold is "I can't spend my gold" or "I can't eat my gold." Just because you cannot spend your gold or eat your gold, does not mean it does not have value. If you were in the United States and had Euros, you would not be able to spend them. But your Euros are definitely not worthless. Your Euros can easily be converted into US Dollars, which can be spent anywhere in the United States. Similarly, gold can easily be converted into any major currency in the world to be spent.
What Determines the Gold Price?
There are dozens of factors that affect the gold price. Some factors include:
- Central Bank Demand: Gold is a key component of central bank reserves. In fact, central banks around the world cumulatively hold tens of thousands of metric tons of gold. A metric ton is equal to 1,000 kilos. More statistics on central bank gold ownership can be found through the World Gold Council.
- Investment Demand: Many bullion dealers, such as APMEX are seeing record demand for gold bullion. Between 2019 and 2020, demand for precious metals more than doubled. 2021 is on track to exceed demand seen in 2020.
- Mining Output: At one time, South Africa was the leader in gold mining output. However, the country continues to see declines in production. Although Russia and China have started opening new gold mines, they are not producing enough to make up the difference. While these mining companies aren't producing as much gold as they once did, demand for gold keeps growing. This imbalance in supply and demand is causing gold prices to climb steadily higher.
- Weak Currencies & Inflation: Typically, gold trades inversely to the strength of currencies. In recent years, governments have been printing currency at record rates, leading to a spike in the gold price.
Why do Investors Buy Gold?
Many investors believe that the current economic situation around the world will lead to an increase in the gold price. Some factors include:
- Quantitative easing: Governments around the world are printing and debasing their currencies at an increasing rate. As a currency is debased, typically gold will hold its purchasing power and appreciate in the debased currency.
- Debt and deficits: In 2020, the United States ran a deficit of $3.1 trillion, the largest deficit as a share of the economy since 1945. Other developed countries have similar trends.
- Negative real interest rates: Interest rates on financial instruments, such as the US 10-year Treasury note, are currently yielding less than the real inflation rate.
- Under-ownership: Historically, about 1.5% to 2.0% of financial assets are invested into precious metals. Currently, precious metals are under-owned, representing less than 1.0% of financial assets.
Is Gold a Good Investment in 2022?
Unfortunately, no one knows where the price of any asset will go in the short, medium and long term. It is possible that the gold price could increase. It is also possible that the gold price could decrease. However, this does not mean you should not buy gold.
Many seasoned investors believe in having an allocation to gold. In fact, using the last 50 years of data and looking at 10 year average returns, it is possible to have almost the return of a 100% stock portfolio with less volatility than a 100% bond portfolio by holding a mix of 80% in the S&P and 20% in gold.
How do I Start Investing in Gold?
There are many ways to buy gold, such as physical metals, mining stocks, futures contracts, exchange traded funds (ETFs) and vaulted / digital precious metals. We have outlined more about each way to buy gold and the pros and cons of each option in our 5 Ways to Buy Gold and Buy Silver article.
What is OneGold?
OneGold is an online platform founded by APMEX and Sprott that allows users to buy, sell and own vaulted positions of physical precious metals. We offer gold, silver and platinum stored in various vaults around the world, including the US, Canada, Switzerland and the UK. If you want to take possession of your metal, you can redeem your positions for any of the 20,000+ products available at APMEX and your metal will be shipped the next business day.
OneGold offers the benefits of owning physical gold without any of the downsides. All positions are fully backed on an ounce for ounce basis. Metal is fully insured against theft and loss at secured facilities at Brinks, Loomis, The Royal Canadian Mint and APMEX. OneGold also offers the liquidity of an exchange traded fund (ETF) and pricing that is much more competitive than buying physical bullion bars and coins. If you want to dollar cost average into gold and silver like a corporate 401K plan, OneGold offers an AutoInvest feature where you can buy a set amount of gold and silver at regular intervals.
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