What is the price of gold today?
The price of gold traded at $2,377.64 per troy ounce, as of 9 a.m. ET. That’s up 0.27% from yesterday’s gold price per ounce and up 15.07% since the beginning of the year.
The lowest trading price within the last 24 hours: $2,353.23 per ounce. The highest gold spot price in the last 24 hours: $2,383.27 per ounce.
Current gold prices
You can find gold spot prices in U.S. dollars under the label XAU/USD. In this case, the price shown is for one troy ounce and expressed in U.S. dollars. Foreign markets using different currencies have different listings. For example, there’s XAU/EUR for trading in euros or XAU/GBP for British pounds.
Gold’s spot price represents the price at which gold can be exchanged and delivered. Prices are typically listed in cost per troy ounce. But prices can also be listed in units like grams or kilograms. Troy ounces are units used almost exclusively for weighing precious metals. One troy ounce represents 1.097 standard ounces.
Price of gold chart
The chart below shows how the spot price of gold is trending over the year. The data is as of 9 a.m. ET and doesn’t display intraday highs or lows.
Gold is up 15.07% from the beginning of the year, as of 9 a.m. ET. The 52-week intraday high reached $2,483.74 on July 17, 2024, and the 52-week intraday low dropped to $1,810.10 on Oct. 6, 2023.
Remember that the spot price of gold is quoted in real time and represents the current price at which gold can be bought or sold for immediate delivery. For most investors, the spot price usually differs from the price they’ll pay or receive when they decide to purchase or sell their gold.
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 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
Some investors use Silver to hedge against economic volatility. Besides its monetary value, silver has plenty of industrial uses. Precious metals are used in medicine, electronics, automobiles, and more. As a result, it trades differently than gold.
The price of silver opened at $27.86 per ounce, as of 9 a.m. ET. That’s up 0.73% from the previous day’s silver price per ounce and up 16.46% since the beginning of the year.
The lowest trading price within the last day: $27.57 per ounce. The highest silver spot price in the last 24 hours: $28.07 per ounce.
Price of platinum
Platinum is another precious metal that commands attention. Rarer than gold and silver, its primary use is in automotive catalytic converters, which help reduce harmful emissions. Given the push for cleaner automotive technologies, the demand dynamics for platinum can vary, influencing its spot price.
The price of platinum opened at $935.96 per ounce, as of 9 a.m. ET. That’s up 0.30% from yesterday’s platinum price per ounce and down 5.24% year to date.
The lowest trading price within the last 24 hours: $929.38 per ounce. The highest platinum spot price in the last 24 hours: $942.60 per ounce.
Palladium spot prices
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 $908.23 per ounce, as of 9 a.m. ET. That’s up 0.22% from yesterday’s palladium price per ounce and down 17.40% year to date.
The lowest trading price within the last 24 hours: $900.50 per ounce. The highest palladium spot price in the last 24 hours: $919.30 per ounce.
Frequently asked questions (FAQs)
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.
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 July 26, 2024, the price of gold rose from $2,066.32 per troy ounce to $2,377.64, representing a 15.07% increase.