What is the price of gold today?
Gold was trading at $2,648.31 per troy ounce as of 9 a.m. ET. That’s a -0.12% change since yesterday. The precious metal is up 28.17% since Jan. 1, 2024.
Over the last day, its highest trading price was $2,661.27, while its lowest was $2,638.23.
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.
Gold price chart
This chart shows how gold spot prices have changed over the last year. The data is updated at 9 a.m. ET and doesn’t have intraday lows or highs.
Year to date, gold is up 28.17% 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
Owning physical gold isn’t like having stocks in an online brokerage. You’ll need a location to store it and likely want to insure it.
The difference between buying and selling prices is known as the spread if you’re trading physical gold. It’s something to note because that spread can end up eating your returns. Dealers typically fold markups and transaction fees into the spread. So your purchase price can be higher than current market rates. Likewise, the money you get for a sale may be less than the current spot rate.
Some alternatives to physical gold offer better liquidity. Those may include gold exchange-traded funds, gold certificates and gold trusts. While they can be easier to manage, they have their own risks. For instance, these investments can have management fees and may not precisely track prices.
Spot prices are, therefore, a general benchmark for gold prices. In practice, actual returns for trading gold can vary depending on your method.
Precious metals 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 possesses both monetary and industrial value. While it’s used as a hedge against economic volatility, it’s also crucial in the electronics, automotive and medical industries. Its dual-use nature can lead to different market dynamics compared to gold.
The price of silver opened at $30.97 per ounce, as of 9 a.m. ET. That’s down 0.73% from the previous day’s silver price per ounce and up 29.44% since the beginning of the year.
The lowest trading price within the last day: $30.76 per ounce. The highest silver spot price in the last 24 hours: $31.52 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 $979.10 per ounce, as of 9 a.m. ET. That’s down 0.51% from yesterday’s platinum price per ounce and down 0.88% year to date.
The lowest trading price within the last 24 hours: $979.10 per ounce. The highest platinum spot price in the last 24 hours: $1,000.19 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 $1,014.50 per ounce, as of 9 a.m. ET. That’s down 2.64% from yesterday’s palladium price per ounce and down 7.73% year to date.
The lowest trading price within the last 24 hours: $1,003.00 per ounce. The highest palladium spot price in the last 24 hours: $1,038.49 per ounce.
Frequently asked questions (FAQs)
Gold’s value tends to fluctuate based on economic, geopolitical and market factors, so the answer to this question depends on the period in which it is measured. It’s also difficult to pinpoint the direction of future price trends ahead of time.
From the beginning of the year to Oct. 15, 2024, the price of gold rose from $2,066.32 per troy ounce to $2,648.31, representing a 28.17% increase.
Gold can be a volatile commodity with significant short- and long-term price swings.
Many factors contribute to whether investing now will pay off. Consider your own investment goals, time horizon and risk tolerance. Also, forecasts about the gold market and the broader outlook for the economy should be considered.
People have long viewed gold as a way to hedge against inflation. It’s also considered one way to diversify your portfolio from traditional assets like stocks or bonds. However, predicting the future direction of gold prices remains difficult, if not impossible.