How much is gold per ounce?
As of 9 a.m. ET, gold was trading at $2,651.48 per troy ounce. That price represents a change of 0.30% from the same time yesterday. Since the start of the year, the price has shifted up 28.32%.
Over the last day, the lowest price for an ounce of gold was $2,642.80. The highest price in the previous 24 hours: $2,666.73.
Current gold prices
XAU/USD is the label for finding the spot gold price traded in U.S. dollars. In this case, gold (XAU) is traded against the dollar, and the price represents the cost of one (troy) ounce of gold in USD. But there are other foreign exchange markets, such as XAU/EUR for trading in euros and XAU/GBP for trading in British pounds.
The spot gold price represents the price at which gold can be exchanged and delivered. Prices are typically quoted in gold price per troy ounce in U.S. dollars, but they can also be quoted per gram and kilo. A troy ounce is slightly heavier than a standard ounce.
Price of gold chart
This chart shows how gold spot prices have changed over the last year. The data iss updated at 9 a.m. ET and doesn’t have intraday lows or highs.
Year to date, gold is up 28.32% as of 9 a.m. ET. The 52-week intraday high reached $2,685.61 on Sept. 26, 2024, and the 52-week intraday low dropped to $1,907.65 on Oct. 16, 2023.
Investing in gold
Buying physical gold is one of the most direct ways to invest in the asset. It can also involve storage or insurance costs.
The “spread” is the difference between buying and selling prices when trading physical gold. That spread can ultimately reduce investor gains. Dealers include their own markups and fees into those spreads. As a result, you might pay more to purchase gold than the current spot price. Similarly, your sale price might be less than what gold is trading at.
Some alternatives include gold exchange-traded funds, certificates and trusts. These can offer additional liquidity and make transactions easier. However, these methods usually include management fees, and they might not track the price of gold precisely.
So, spot prices are really more of a benchmark. The cost to buy or sell gold will likely include transaction costs or fees.
Precious metals spot prices
Precious metals are often used as investment vehicles but also have industrial uses. Like gold, the price of commodities like palladium, silver and platinum varies based on market forces. Due to their industrial applications, they also have other sources of demand.
Silver spot prices
Silver is a traditional store of value but is also used in industry. Some investors might use it to hedge against a bad economy, but it has many applications. The electronics, health care, and automotive sectors all rely on silver, which makes its market dynamics distinct from gold in notable ways.
The price of silver opened at $31.20 per ounce, as of 9 a.m. ET. That’s down 0.12% from the previous day’s silver price per ounce and up 30.40% since the beginning of the year.
The lowest trading price within the last day: $30.91 per ounce. The highest silver spot price in the last 24 hours: $31.63 per ounce.
Price of platinum
Platinum is rarer than gold or silver. The precious metal is used in catalytic converters to reduce exhaust fumes. As the auto industry pushes for cleaner cars, demand could rise, making platinum prices volatile and more challenging to predict.
The price of platinum opened at $984.10 per ounce, as of 9 a.m. ET. That’s up 0.80% from yesterday’s platinum price per ounce and down 0.37% year to date.
The lowest trading price within the last 24 hours: $968.85 per ounce. The highest platinum spot price in the last 24 hours: $997.80 per ounce.
Palladium spot prices
Palladium is also essential in catalytic converters. Stricter emissions standards have also boosted the demand for precious metals. That rising demand and the metal’s scarcity have led to significant price volatility.
The price of palladium is $1,042.00 per ounce, as of 9 a.m. ET. That’s down 2.75% from yesterday’s palladium price per ounce and down 5.23% year to date.
The lowest trading price within the last 24 hours: $1,033.00 per ounce. The highest palladium spot price in the last 24 hours: $1,076.00 per ounce.
Frequently asked questions (FAQs)
The highest price gold ever reached was $2,685.61 on Sept. 26, 2024.
Gold can be highly volatile and subject to strong short-term price fluctuations.
Whether it’s a good time to buy gold depends on various factors, including your investment goals, risk tolerance and time horizon, the broader economic outlook, and forecasts about the gold market.
Historically, many people view gold as a hedge against inflation and currency fluctuations. Others see it as a store of value during economic downturns. At the same time, some may find diversifying a portfolio of stocks and bonds useful, given its low correlation to both assets.
“If you look at gold’s performance historically, it’s the kind of asset that should perform well through uncertainty, as it has done in five out of the last seven recessions,” said Joseph Cavatoni, chief market strategist for North America at the World Gold Council. “For people looking for a store of value and a portfolio diversifier, gold has a strong track record of delivering those qualities.”