How is the gold price determined?

The gold price is shaped by supply and demand on the exchanges: buy and sell orders are aggregated continuously, producing the spot price, which is quoted per troy ounce in US dollars. On an average trading day it moves within a range of roughly half a percent to one percent, though major news can trigger larger swings.

How do you convert the gold price into other currencies?

Multiply the dollar price per ounce by the current exchange rate. Divide the ounce price by 31.1035 to get the price per gram, or multiply it by 32.151 for the price per kilogram. You can try the formula yourself with the calculator on this page.

What is the spread in physical gold trading?

The spread is the difference between the selling price and the buyback price of investment gold. The selling price sits above the spot price (premium), while the buyback price sits below it (discount). Under normal market conditions the spread on physical gold is relatively stable, typically a few percent for a 100 g gold bar.

What makes the gold price rise or fall?

In the short term the price is driven mainly by Fed rate decisions, economic crises and swings in confidence in the financial system. Over the long term, inflation expectations, central bank gold purchases and the gradual decline of the dollar, known as dedollarisation, shape the price.

Why is buying gold through a gold account worthwhile?

At Goldtresor most of the physical stock is held in 1 kg gold bars, so trading happens at this favourable rate. As long as you keep your balance on the gold account, you pay no product premium for bars or coins; it only applies if you later convert your gold into physical products.

Does gold protect against inflation?

Gold has been a store of value for thousands of years and its supply is finite, so demand typically rises when inflation fears grow. In the 1970s the price of an ounce climbed from 35 to 850 dollars, and it multiplied again during the bull market of the 2000s.

Where can I follow the live gold price?

You can follow the live gold price at goldtresor.com/gold-prices, with spot prices for gold, silver, platinum and palladium refreshed every minute, in forint, euro and dollar. After logging in you will also find clear, detailed prices in our app, and once you have verified your identity and made a deposit, you can trade on them right away: buy and sell precious metals at the current price.

Precious metal prices

Live gold price and precious metal rates

Real-time spot prices, investment gold spreads, historic bull markets and the key drivers of the gold price, all in one place.

Open a free account Jump to live prices

Live Prices

Precious Metal Prices

Spot prices updated every 30 seconds. Select your currency and unit.

Gold

Silver

Platinum

Palladium

Indicative prices only. The actual trading price is determined by the market rate at the time of transaction.

The Goldtresor advantage

Why can you invest in gold at unbeatable prices with Goldtresor?

The bulk of our physical inventory is held in 1 kg gold bars, so trading takes place at that price level. If you later convert into any bar or coin, you only pay the product premium at that point. You never pay a product premium while you hold a gold account balance. The same applies to silver, platinum and palladium. Because physical silver, platinum and palladium bars are stored in the Zurich free-trade zone, you never pay VAT unless you convert to physical product and take delivery.

Price formation

How is the gold price formed and what influences it short and long term?

How is the spot gold price determined?

Driven by real-time supply and demand, the gold price per troy ounce moves continuously and refreshes every fraction of a second. Because the US dollar remains the primary reserve currency, gold is quoted in dollars. On a typical trading day the price fluctuates within a half to one percent range, but a major news event can push gold several percent in minutes. Buy and sell orders are continuously aggregated to produce a mid-market price known as the spot or world-market gold price, then converted to local currencies at the prevailing exchange rate.

How is the gold price calculated in local currency?

Multiply the dollar price per ounce by the current USD exchange rate for your currency. Divide by 31.1035 for the gram price, multiply by 32.151 for the kilogram price. These figures do not include the dealer spread (premium on buy side, discount on sell side).

Try the formula

Use the slider to see how much you could gain compared to the current price if gold moves to the target you set.

Gold price (USD)$2,400

per ounce

$2,400.00

per gram

$77.16

per kilogram

$77,162.40

Expected return:Move the slider above

Spread

The gold price and the investment gold spread

The spread is the gap between the buy and sell price on either side of spot. The premium is how much above spot you pay to buy; the discount is how much below spot you receive when selling. To calculate: divide the buy price by the sell price and subtract from 1. Under normal conditions the physical gold spread is relatively stable but can widen during high-impact events.

Spread calculator

Enter a buy and sell price to see the effective spread.

Buy price (USD)Buyback price (USD)

2.66%

Investment gold spread2.66%

Right now a 100 g Münze Österreich gold bar costs $3,380.00 and you can sell it back for $3,290.00, a 2.66% spread.

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Short-term factors

Short-term factors that influence the gold price

Expectations around the Federal Reserve and other central banks move gold and most asset classes. Anticipated rate cuts tend to support the gold price, while hikes tend to weigh on it. Markets price in expected decisions well in advance; surprises amplify short-term volatility.

Historic bull markets

Gold's greatest rallies

Three periods when the gold price rose dramatically against the dollar.

from

$35

$850

1970-1980

24x

Following the collapse of the Bretton Woods system, amid rampant inflation, gold rose from $35 to $850 by late 1980.

Past performance does not guarantee future results. The chart is illustrative.

Long-term factors

Long-term factors that influence the gold price

Central banks hold significant gold reserves and their buying or selling programs can influence the price over years. In recent years, emerging market central banks have been net buyers, providing a steady demand floor.

Seasonal patterns

Seasonal factors in the gold market

Gold demand in China typically rises in the weeks before Chinese New Year (January/February), as gold is a traditional gift. This seasonal buying can lift prices in late Q4 and early Q1.

Summary

Gold is one of the most liquid and transparent markets in the world

The gold price is shaped by a complex interplay of short-term trading flows, central bank policy, geopolitical risk and long-term supply/demand fundamentals. Understanding these factors helps investors make informed decisions about when and how much to allocate to physical precious metals.

FAQ

Frequently asked questions about the gold price

The current global mid price of 24-carat investment gold is $154.39 per gram, which equals $4,802.00 per troy ounce. The price changes constantly, and the price table on this page refreshes every minute.

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