Gold Spot Price Per Ounce

Price of Gold

When UK traders discuss a gold price, they are referring to the ever-changing price of gold as per the London Bullion Market Association. The price itself, refers to the cost of gold within the UK.There are a number of factors that make up the gold price, and these can change regularly, affecting the final price at time of purchase. To view the live price of gold click the link. 

Weekly Gold Price

Track the live gold price and live silver price in the following weights: troy ounce (t oz), grams (g) and kilograms (kg). You can answer questions such as "what is the current price of gold?", "what is the value of an ounce of gold yesterday?", "what was the gold price last week?", "what is the price of gold UK?", "what is the gold oz price?", "what is the gold cost per gram?", "what is the silver price per gram?" or "what is the sterling gold price?". Find answers to your own questions by using the filters next to the graph.

Gold and silver investors tend to use the troy ounce as the unit of measure. For ease, this is abbreviated to "ounce" on the charts but it should be noted that the troy ounce is not the same as the avoirdupois ounce and in fact is 3 grams heavier at 31.1035g. The origin of the troy weight system is unknown although there is speculation that it is linked to Champagne fairs at Troyes in France. A second hypothesis is that the troy system is in fact of Muslim origin by way of the Gold Dirhem. Do get in touch if you have any more information on the source of the weight system as we would like to know more! We offer grams, kilograms and troy ounce as options so you can use the graphs to fit your budget and even the items you wish to buy or sell. Don't forget to use our metal ratios page to compliment the live metal graphs. These will tell you the price of gold. 

What Does the Price Refer to?

The gold price is most commonly given as per 1 troy ounce of gold. The troy ounce is slightly heavier than the avoirdupois ounce at 31.1035g. While prices are available in grams and kilograms, the troy ounce is more universally recognised.

What is the Gold Spot Price?

The spot price is considered to be the average price of wholesale gold as quoted by UK bullion dealers for immediate transactions. So, unlike a share price, which is created through an official trading platform like the London or New York Stock Exchange, the gold price is a combination of numerous bullion dealers in the UK and around the world. However, it is important to note that as the spot price chart shows an average of trading prices, it does NOT give an exact price, and should be used only as a guide to buying and selling.  

Is There a Single Spot Price?

Quite simply, no. The spot price is liable to change throughout the world as each country’s exchange platforms begin trading. Starting with Sydney, then Tokyo, Hong Kong, Singapore, Bombay, Zurich, London, New York ending in California, trading never stops, so it is impossible to condense every trade around the world into a single price.