91Ӱ

BLUEPRINT

You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website.

Advertiser Disclosure

Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.

How much is gold per ounce?

As of 9 a.m. ET, gold was trading at $2,373.02 per troy ounce. That price represents a change of 0.03% from the same time yesterday. Since the start of the year, the price has shifted up 14.84%.

Over the last day, the lowest price for an ounce of gold was $2,368.43. The highest price in the previous 24 hours: $2,392.97.

Gold spot prices

The spot gold price is XAU/USD, representing its price in 91Ӱ dollars. For this symbol, it’s gold (XAU) trading against the dollar (USD). Other markets, though, trade in different currencies. The best-known labels include XAU/EUR for trading euros and XAU/GBP for British pounds.

Spot gold prices are listed as the price for a troy ounce. Troy ounces are used for trading precious metals and are slightly heavier than a standard ounce. However, prices can also be quoted in grams or kilos, so pay attention to the units.

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.

Year to date, gold is up 14.84% as of 9 a.m. ET. The 52-week intraday high reached $2,450.06 on May 20, 2024, and the 52-week intraday low dropped to $1,810.10 on Oct. 6, 2023.

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 $31.02 per ounce, as of 9 a.m. ET. That’s up 0.89% from the previous day's silver price per ounce and up 29.63% since the beginning of the year.

The lowest trading price within the last day: $30.62 per ounce. The highest silver spot price in the last 24 hours: $31.49 per ounce.

Platinum spot prices

Platinum is another precious metal much rarer than gold or silver. It’s primarily used in automotive catalytic converters that reduce emissions. With the push for cleaner cars, which don’t need autocatalysts, demand for platinum wavers.

The price of platinum opened at $1,007.28 per ounce, as of 9 a.m. ET. That’s down 1.36% from yesterday’s platinum price per ounce and up 1.98% year to date.

The lowest trading price within the last 24 hours: $1,005.60 per ounce. The highest platinum spot price in the last 24 hours: $1,035.20 per ounce.

Price of palladium

Palladium, like platinum, is pivotal in the automotive industry for catalytic converters. In recent times, there has been a surge in palladium demand due to stricter emission standards worldwide. Its scarcity and rising industrial demand have led to significant price volatility.

The price of palladium is $1,012.75 per ounce, as of 9 a.m. ET. That’s down 1.34% from yesterday’s palladium price per ounce and down 7.89% year to date.

The lowest trading price within the last 24 hours: $1,001.09 per ounce. The highest palladium spot price in the last 24 hours: $1,036.51 per ounce.

Frequently asked questions (FAQs)

The highest price gold ever reached was $2,450.06 on May 20, 2024.

One notable recent high includes the yellow metal’s high of $1,971.17 per troy ounce in August 2020. This surge can be partially attributed to the economic uncertainty surrounding the COVID-19 pandemic.

The global outbreak of COVID-19 brought about unprecedented economic challenges. With central banks worldwide implementing low interest rate policies and massive fiscal stimulus packages to support their economies, there were concerns about potential inflation and the devaluation of fiat currencies. In this scenario, some investors turned to gold as a safe asset, given its history as a store of value during times of economic instability.

Geopolitical tensions, trade wars, and supply chain disruptions during this period further contributed to investors seeking refuge in assets deemed more stable, and gold has historically been a preferred choice for many. As a result, demand for gold increased, driving its price to a record high in August 2020.

Remember that while the COVID-19 pandemic’s economic repercussions significantly contributed to gold’s price rise in 2020, other factors likely also played a part.

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.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Tony Dong

BLUEPRINT

Tony Dong is a freelance financial writer with bylines in 91Ӱ News and World Report, the NYSE, the Nasdaq, The Motley Fool and Benzinga. He lives in Vancouver, Canada and is an avid watch collector.

Farran Powell

BLUEPRINT

Farran Powell is the lead editor of investing at 91Ӱ Blueprint. She was previously the assistant managing editor of investing at 91Ӱ News and World Report. Her work has appeared in numerous publications including TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo! Finance, MSN Money and the New York Daily News. She holds a BSc from the London School of Economics and an MA from the University of Texas at Austin. You can follow her on Twitter at @farranpowell.