How much is gold per ounce?
The price of gold traded at $2,635.65 per troy ounce, as of 9 a.m. ET. That’s down 2.29% from yesterday’s gold price per ounce and up 27.55% since the beginning of the year.
The lowest trading price within the last 24 hours: $2,617.82 per ounce. The highest gold spot price in the last 24 hours: $2,703.98 per ounce.
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
The chart below shows spot prices for gold over the last year. The data was updated at 9 a.m. ET and does not include intraday highs or lows.
Gold is up 27.55% from the beginning of the year, as of 9 a.m. ET. The 52-week intraday high reached $2,790.10 on Oct. 31, 2024, and the 52-week intraday low dropped to $1,931.73 on Nov. 13, 2023.
Keep in mind that gold prices change in real time. Spot prices when you purchase may be significantly different if and when you decide to sell.
How to invest in gold
Buying physical gold involves overheads like storage costs and insurance.
When trading physical gold, the difference between the buying and selling price, known as the spread, can eat into returns. Dealers often incorporate their markups and transaction fees within these spreads, which means the actual price an investor pays might be higher than the current market rate, while the selling price they receive might be lower.
While gold certificates, gold exchange-traded funds and trusts offer more liquidity and are easier to manage than physical gold, they come with their own risks. These investment vehicles might only sometimes match the performance of the spot price of gold due to management fees and potential discrepancies in tracking.
In essence, while the spot price provides a general benchmark for the value of gold, the actual returns and costs an investor encounters differ based on the medium of purchase and the specifics of the investment.
Precious metals spot prices
Precious metals have a long history of being used as stores of value and industrial commodities. It’s not just gold. Metals, including platinum, silver and palladium, are regularly traded. Their prices also fluctuate based on various market factors.
Price of silver
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 $30.67 per ounce, as of 9 a.m. ET. That’s down 3.39% from the previous day’s silver price per ounce and up 28.17% since the beginning of the year.
The lowest trading price within the last day: $30.54 per ounce. The highest silver spot price in the last 24 hours: $31.85 per ounce.
Platinum spot prices
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 $973.52 per ounce, as of 9 a.m. ET. That’s down 1.28% from yesterday’s platinum price per ounce and down 1.44% year to date.
The lowest trading price within the last 24 hours: $966.67 per ounce. The highest platinum spot price in the last 24 hours: $988.92 per ounce.
Price of palladium
Another precious metal used in catalytic converters is palladium. The trend toward stricter emission standards may support demand. Combined with palladium’s scarcity, the metal can also have significant price fluctuations.
The price of palladium is $990.54 per ounce, as of 9 a.m. ET. That’s down 1.87% from yesterday’s palladium price per ounce and down 9.91% year to date.
The lowest trading price within the last 24 hours: $984.04 per ounce. The highest palladium spot price in the last 24 hours: $1,013.87 per ounce.
Frequently asked questions (FAQs)
The highest price gold ever reached was $2,790.10 on Oct. 31, 2024.
It’s almost impossible to time the market to invest in gold. It can be a very volatile asset, and price fluctuations are difficult to predict.
Whether gold makes a good investment at present depends on various market conditions. What’s more, you should consider factors specific to you. Your time horizon, risk tolerance and investment goals are potentially more important than anything else.
Historically, gold has been seen as an inflation hedge and store of value during recessions. Others might use gold to diversify their portfolio from a concentration in stocks and bonds. Yet, like many investments, there’s no performance guarantee. Market conditions could easily defy your expectations.