Gold Price Per Ounce Today
Gold value per troy ounce by karat
| Karat | Purity | Value per troy ounce |
|---|---|---|
| 24K | 99.90% | $4,411.44 |
| 22K | 91.67% | $4,048.02 |
| 21K | 87.50% | $3,863.88 |
| 20K | 83.33% | $3,679.74 |
| 18K | 75.00% | $3,311.90 |
| 16K | 66.67% | $2,944.05 |
| 14K | 58.33% | $2,575.77 |
| 12K | 50.00% | $2,207.93 |
| 10K | 41.67% | $1,840.09 |
| 9K | 37.50% | $1,655.95 |
Troy ounce, not the ounce on your kitchen scale
Gold is quoted per TROY ounce, which is 31.1034768 grams. The ounce used for food and post - the avoirdupois ounce - is 28.349523125 grams. The troy ounce is about 9.7% heavier, and confusing the two is the single most expensive arithmetic mistake a first-time seller makes.
If you weigh gold on a scale set to ordinary ounces and multiply by the spot price, you will undercount yourself by nearly a tenth. Set the scale to grams and divide by 31.1034768, or use the per-gram page instead.
Why the world quotes gold this way
The troy system survived from medieval European commerce specifically for precious metals, and the London market kept it. Every wholesale contract, every central bank holding and every spot quote you will see is denominated in troy ounces - so this is the number that flows down into every other price on this site.
Questions people ask
- Is this a troy ounce or a normal ounce?
- A troy ounce, which is 31.1034768 grams. A normal (avoirdupois) ounce is 28.349523125 grams, about 9.7% lighter. At the current price one troy ounce is $4,415.86 while the same weight in ordinary ounces would be $4,024.87 - weigh in grams if you want to avoid the trap entirely.
- How much is one troy ounce of gold worth today?
- One troy ounce of gold is worth $4,415.86 at the current spot price of $4,415.86 per troy ounce. Spot is quoted for 100% fine gold, so 24K jewellery at 99.9% comes out fractionally lower. Either way it is the metal value only, before any dealer margin.
- How much is 14K gold worth per troy ounce?
- 14K gold is 58.33% pure, so one troy ounce is worth $2,575.77 right now. 18K works out to $3,311.90 and 24K to $4,411.44. Multiply the pure-gold price by the karat fraction and you get the same answer.
- How do you convert the gold price to a troy ounce?
- Divide the price per troy ounce by 31.1034768 to get the price per gram, then multiply by the grams in your unit. One troy ounce is 31.103477 grams, so 4,415.86 / 31.1034768 x 31.103477 = $4,415.86.
- Will a gold buyer pay me this troy ounce price?
- No. This is the melt value of the metal at spot. Every buyer deducts refining costs, overheads and a margin, so the offer is a percentage of this number rather than the number itself. Treat it as the ceiling.
- Is the gold price up or down today?
- Gold is up $39.67 (0.91%) against the price 24 hours ago of $4,376.19 per troy ounce.
- What is the highest and lowest gold has traded today?
- Today's range is $4,376.19 to $4,425.72 per troy ounce, measured across 41 readings recorded on this site at 15-minute intervals.
- Is this the spot price or the futures price?
- Spot. It is the price for immediate settlement of one troy ounce, quoted as XAU/USD. Many pages that rank for "gold price today" quote the futures contract instead, which trades at a different level - often tens of dollars apart - and rarely say which one they are showing.
- How often does this price update?
- The live figure refreshes continuously from the market feed. A snapshot is written to our own database every 15 minutes, and 3.2 days of that record now exists, which is what the chart and the daily change are measured against.