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How much is gold per ounce?
As of 9 a.m. ET, gold was trading at $2,611.72 per troy ounce. That price represents a change of -0.91% from the same time yesterday. Since the start of the year, the price has shifted up 26.39%.
Over the last day, the lowest price for an ounce of gold was $2,589.90. The highest price in the previous 24 hours: $2,635.70.
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
This chart shows how gold spot prices have changed over the last year. The data is updated at 9 a.m. ET and doesn’t have intraday lows or highs.
Year to date, gold is up 26.39% 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.
Investing in gold
Owning physical gold isn’t like having stocks in an online brokerage. You’ll need a location to store it and likely want to insure it.
The difference between buying and selling prices is known as the spread if you’re trading physical gold. It’s something to note because that spread can end up eating your returns. Dealers typically fold markups and transaction fees into the spread. So your purchase price can be higher than current market rates. Likewise, the money you get for a sale may be less than the current spot rate.
Some alternatives to physical gold offer better liquidity. Those may include gold exchange-traded funds, gold certificates and gold trusts. While they can be easier to manage, they have their own risks. For instance, these investments can have management fees and may not precisely track prices.
Spot prices are, therefore, a general benchmark for gold prices. In practice, actual returns for trading gold can vary depending on your method.
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 is a traditional store of value but is also used in industry. Some investors might use it to hedge against a bad economy, but it has many applications. The electronics, health care, and automotive sectors all rely on silver, which makes its market dynamics distinct from gold in notable ways.
The price of silver opened at $30.76 per ounce, as of 9 a.m. ET. That’s up 0.29% from the previous day’s silver price per ounce and up 28.54% since the beginning of the year.
The lowest trading price within the last day: $30.19 per ounce. The highest silver spot price in the last 24 hours: $30.79 per ounce.
Platinum spot prices
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 $957.00 per ounce, as of 9 a.m. ET. That’s down 1.70% from yesterday’s platinum price per ounce and down 3.11% year to date.
The lowest trading price within the last 24 hours: $949.12 per ounce. The highest platinum spot price in the last 24 hours: $978.62 per ounce.
Price of palladium
Palladium is also essential in catalytic converters. Stricter emissions standards have also boosted the demand for precious metals. That rising demand and the metal’s scarcity have led to significant price volatility.
The price of palladium is $967.00 per ounce, as of 9 a.m. ET. That’s down 2.38% from yesterday’s palladium price per ounce and down 12.05% year to date.
The lowest trading price within the last 24 hours: $957.10 per ounce. The highest palladium spot price in the last 24 hours: $998.85 per ounce.
Frequently asked questions (FAQs)
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 Nov. 12, 2024, the price of gold rose from $2,066.32 per troy ounce to $2,611.72, representing a 26.39% increase.
Gold can be highly volatile and subject to strong short-term price fluctuations.
Whether it’s a good time to buy gold depends on various factors, including your investment goals, risk tolerance and time horizon, the broader economic outlook, and forecasts about the gold market.
Historically, many people view gold as a hedge against inflation and currency fluctuations. Others see it as a store of value during economic downturns. At the same time, some may find diversifying a portfolio of stocks and bonds useful, given its low correlation to both assets.
“If you look at gold’s performance historically, it’s the kind of asset that should perform well through uncertainty, as it has done in five out of the last seven recessions,” said Joseph Cavatoni, chief market strategist for North America at the World Gold Council. “For people looking for a store of value and a portfolio diversifier, gold has a strong track record of delivering those qualities.”
