How the gold price is set
Gold trades around the clock, moving from Asian markets to London and then New York. The price you see quoted is the spot price: the cost of one troy ounce of pure gold for immediate delivery, in US dollars. London's LBMA Gold Price, set twice each working day in an electronic auction, is the benchmark used by central banks, refiners and dealers, while COMEX futures in New York set the pace during American trading hours.
Our charts show daily closing prices of COMEX gold futures, which follow the spot price very closely. Prices in pounds sterling, euros, Swiss francs, Canadian dollars and UAE dirhams are converted at each day's reference exchange rate.
What moves the price of gold
Gold pays no interest, so it tends to do well when interest rates fall and when inflation erodes the value of cash. A weaker US dollar usually lifts the gold price, because it makes gold cheaper for buyers using other currencies.
Demand also matters. Central banks bought more than 1,000 tonnes of gold a year in 2022, 2023 and 2024, and buyers in China and India remain the world's largest markets for gold bars, coins and jewellery. In times of war, financial stress or political uncertainty, investors often turn to gold as a store of value, which can push the price up quickly.
The gold price in pounds, euros and other currencies
Gold is priced in US dollars worldwide, so the price in pounds, euros, Swiss francs or Canadian dollars depends on two things at once: the dollar gold price and the exchange rate. To show the price in another currency, we convert each day's dollar price at that day's reference exchange rate. The UAE dirham is pegged to the US dollar, so the gold price in dirhams moves almost exactly in line with the dollar price.
This matters if your savings are in pounds, euros, francs or Canadian dollars. When the dollar weakens, gold can rise in dollars but barely move, or even fall, in your own currency; when the dollar strengthens, the opposite happens. The comparison chart above shows these differences side by side.
Spot price and the price you pay
The spot price is the price of the raw metal. Coins and bars cost a little more, because minting, packaging, insurance and distribution add a premium. Premiums are lower on larger bars and higher on small coins and bars, where those costs are spread over less gold.
Every product in our shop is priced from the live spot price plus a stated premium, in the currency you choose. When you check out, your price is locked for 10 minutes while you confirm your order, and you then pay by bank transfer. Any VAT for your delivery country is shown before you order.
Gold weights: troy ounces, grams and kilos
Gold is weighed in troy ounces. One troy ounce is 31.1035 grams, about 10% heavier than an ordinary ounce. A kilo bar holds 32.15 troy ounces, and in continental Europe gold bars are usually sold by the gram: we offer 1 g, 5 g, 10 g and 20 g bars as well as the 1 oz bar, the largest gold product in our range.
Purity is given as fineness in parts per thousand. Investment bars and most modern coins are 999.9 fine, which is 24 carat. Some well-known coins, such as the Krugerrand, the American Eagle and the Sovereign, are 22 carat (916.7), alloyed with copper for durability, but still contain their full stated weight of pure gold.
Frequently asked questions
What is the gold price today?
One troy ounce of gold currently costs about £2,925.57, €3,505.60, US$3,914.70, CHF 3'229.95, CA$5,473.57 or AED 14,376.74 at the spot price, before any premium or VAT. Prices on this page update with the live market.
Why is gold priced per troy ounce?
The troy ounce (31.1035 g) has been the standard unit for precious metals for centuries, and it is still the unit used by the London and New York markets. Prices per gram or kilo are simply converted from it.
Is the price on the chart the price I pay for a coin or bar?
No. The chart shows the spot price of the metal. Coins and bars sell for spot plus a premium that covers minting and distribution. Each product page shows its premium and the live price in your chosen currency.
How often are the gold prices updated?
The live gold price used across the shop updates every minute. The charts use daily closing prices and are refreshed every few hours.
Why does the gold price in euros or Swiss francs move differently from the dollar price?
Because it depends on two prices at once: the dollar price of gold and the exchange rate. If the dollar weakens against the euro, gold can rise in dollars while staying flat, or even falling, in euros.
Can I sell gold to you?
Yes. We buy gold coins and bars at 97% of the live spot value of their fine gold content, with no fees or commission. Request a quote on our Sell to us page and we will confirm the price by email within one working day.
