Current Price of Gold Today

Gold Prices per Ounce, Gram, and Kilogram

Gold Price NowChange
Gold Price per Ounce $1,735.83 -3.19
Gold Price per Gram $55.81 -0.10
Gold Price per Kilo $55,806.93 -102.40
As of Jun 2, 2020 03:32 ET
Gold is by -0.18%
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The latest price of gold per ounce, gram, and kilogram using real-time interactive gold price charts. View the price of gold for different currencies around the world and various time periods. Historical gold prices are provided for context and to help inform investment decisions.

Gold Price Performance per

TimeframeRateChange%
1 Week 1,703.37 +32.46 +1.91%
2 Weeks 1,687.69 +48.14 +2.85%
30 Days 1,699.08 +36.75 +2.16%
6 Months 1,478.95 +256.89 +17.37%
1 Year 1,322.60 +413.23 +31.24%
5 Years 1,177.65 +558.18 +47.40%
10 Years 1,215.65 +520.18 +42.79%
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Gold Price Charts

By hovering your mouse within the graph of the gold prices chart you can also view the price of gold for specific days.


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drivers of gold prices image

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What Affects the Price of Gold?

what affects the price of gold

Gold has been a part of the human story since the dawn of civilization. One part store of wealth, one part ornament, and one part modern technology, gold stands at the crossroads of multiple financial, religious, and industrial trends.

What actually drives gold prices? Is it fear of currency devaluation or stock market crashes? Is it war? Or is it jewelry and electronics fabrication?

The answer is many-fold. In this article, we will highlight the complex and inter-related drivers for gold prices worldwide so that investors may have a fuller understanding of the totality of the precious metals market.

Gold Supply and Demand

Fundamentally, the answer to what affects the price of gold is the same as for every other market: supply and demand.

Yet the supply and demand balance for gold, a market which dates back to the dawn of record-keeping itself, is itself largely driven by factors which are deeply ingrained in the human psyche.

Two extreme emotions – greed and fear – comprise the spectrum through which the majority of participants in the gold market make their buy and sell decisions.

In this article we will examine the many ways in which greed and fear play out, over and over again, in the most ancient of financial markets which is yet seeing new life today.

Gold Supply

Before we examine the actual numbers, let us consider one important preliminary supply factor for gold: this is the only element in which all of the supply ever mined in the history of the world still exists above ground. Gold never rusts, tarnishes, corrodes, or burns. Except for small amounts which may have been lost in shipwrecks at the bottom of the ocean or disposed of in landfills, all of the gold that has ever been brought to surface of the planet still exists in one form or another (and arguably, those two sub-components are retrievable as well).

Gold is unique in this way: neither oil, copper, silver, nor fiat currencies share this indestructible property – all of these items are permanently consumed or degraded in some way throughout time.

Thus, all of the gold mined in humanity’s history still exists. Indeed, it is estimated that 187,000 metric tonnes of gold have been mined in the history of our species. As one metric tonne equals just over 32,150 troy ounces, we can calculate that approximately 6 billion ounces of gold have been brought to the Earth’s surface through humanity’s collective efforts.

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Gold Price FAQ

What Impacts the Current Price of Gold per Ounce or Gram?

There are many factors that contribute to the current price of gold. The importance of each of these factors on gold prices varies depending on the current economic environment. The key factors that impact the price of Gold are:

  • Strength of the US dollar
  • U.S. interest rates
  • Current events
  • Geo-political tensions
  • Inflation expectations
  • Supply and demand
  • Price of crude oil

For a detailed explanation, read What Affects The Price of Gold.

How does the price of gold perform during recessions?

The stock market is cyclical and regularly goes through periods of both growth and recession. This happens about every 10-15 years. One way to analyze a market recession is via performance of the S&P 500. Below are the dates of the largest declines of the S&P 500, its performance during that time, and the performance of gold prices during the same period. This data shows that gold increased significantly in 75% of these recessions.

price of gold perform during recessions

Is the price of gold different in other countries?

The current price of gold is the same, all things considered, in other countries. The US gold price is converted to the currency in that country based on the current exchange rate. In other words, no matter where in the world you purchase gold, the actual value of that gold in US dollar is the same. The below chart Show small chart shows the annual gold price performance versus various fiat currencies.

price of gold different in other countries

How is the Current Price of Gold Per Ounce Calculated?

Historically, gold has been highly valued going back thousands of years. Today, there are many contributing factors to the price of gold as mentioned above. In addition, as the central banks of the US, Europe, and other places, diversify their holdings (to include more gold or less) this has an impact on the price of gold per gram, and/or the price of gold per ounce. As central banks add more Gold and move away from paper money, the price of gold goes up.

The current real-time price of gold today, traditionally, has an inverse relationship to the value of the US dollar. When the value of the US dollar is strong, gold prices go down. The strength of major economies also had an inverse relationship – at least when an economy has a significant downturn. This is due to the "safe-haven" status gold has traditionally had in the investment world. Gold prices are historically far more stable over the course of time than economies and other classes of investments.

Supply and demand, of course, also play a key role in the price of gold per gram or ounce. There is only so much gold to be mined and gold mining is not cheap. When gold demand outstrips gold supply, the price of gold goes up. The chief areas of gold demand are in gold jewelry. In 2017, 46% of demand for gold was for jewelry. There is also the use of gold in industry for such things as electronics and medical devices.

How Many Grams are in an ounce of gold?

There are 31.1034807 grams in one troy ounce of gold. A troy ounce is a larger system of measurement for precious metals known as Troy weights. A regular ounce of gold is equal to 28.35 grams.

How much is an ounce of gold?

Let's say the spot gold price is currently 1,400. An ounce of gold will generally cost you a little more. You can compare the "cost over spot" prices of 1 ounce coins from several top reputable dealers to get a good sense. As market events impact gold prices, you can expect price fluctuation through the course of the day.

Do current gold prices vary by country?

The price for an ounce or gram of gold remains mostly the same regardless of which country you are in. The price is determined by converting the current spot gold price for an ounce or gram of gold into the country's currency. For example, the current spot gold price for 1 gram of gold would be converted into Indian Rupees according to the current exchange rate.

How much is gold per gram?

The total gold per gram value is calculated based on the current spot gold price. To see the goldprice per gram, select your currency in the drop down under the gold price chart at the top of this page. The chart shows the current price of gold per ounce, gram, and kilogram simultaneously.

How does the current gold price compare to historical gold prices?

The gold price increase from 1935, when President FDR raised gold value to $35 per ounce, compared to today's spot gold value of $1,335 represents an increase of approximately $3,700%.

The goldprice increase during this millennium (i.e. from January 2000) from $285/oz to today's spot gold value of $1,335 represents an increase of approximately $367%. Indeed, gold prices have tripled the Dow Index of only 113% during this millennium.

How much is an ounce of gold?

The price of gold per ounce is perhaps the most common way investors monitor the gold market. The image below shows a 1 ounce gold nugget and a 1 ounce gold coin - in this case a gold eagle coin. To see the current gold price per ounce, select your currency in the drop down under the chart at the top of this page. The result chart will display the gold price per ounce, as well as gram and kilogram.

1 oz gold nugget and 1 oz gold eagle coin

Is it true that the price of gold goes up when the stock market goes down?

Much of the time, the price of gold is negatively correlated to the stock market. More specifically, when the markets go down, gold prices often go up. That being said, there are times when the price of gold and the stock market both go up or down in unison. Overall, time has shown that gold prices are not tied to the movements of stocks and bonds and it is for this reason the gold should be an important consideration to protect the long-term value of your investment portfolio.

Is the price of gold too volatile for the average investor?

As with other commodities, gold can become volatile with sudden ups and downs but is no more volatile than the stock market. Gold is also known to go through long periods of time with relative quiet price activity. Overall, gold is viewed by many financial experts as a long-term store of value and uptrend which is why so many recommend having gold as part of your investment portfolio.

What is the gold/silver ratio?

The gold/silver ratio is the relationship between gold and silver prices. Investors often view the historical gold/silver ratios to analyze how they are priced relative to one another.

What are the currencies in which gold prices per ounce and gram are offered?

The price of gold is pegged to the US dollar and is traded in US dollars around the world. When purchasing gold in another country it is likely the dealer paid for the gold in an amount based upon and close to the price in US dollars. The price in that nation is then translated to the currency of that country.

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