What Is the Gold Price Per Ounce?
The gold price per ounce refers to the cost of one troy ounce (31.1035 grams) of pure gold, quoted in US dollars. This is the standard unit used in global gold markets, futures exchanges like COMEX, and by central banks worldwide. The spot price represents the current market rate for immediate delivery and fluctuates throughout the trading day based on supply, demand, and macroeconomic factors.
Gold is traded nearly 24 hours a day across major financial centres — London, New York, Shanghai, and Tokyo. The price you see above is the live XAU/USD spot rate, updated every 60 seconds. It reflects the midpoint of the global bid-ask spread and is the benchmark used by dealers, jewellers, and refiners to price physical gold products.
Factors That Affect the Gold Price
Key drivers of the gold price per ounce include US Federal Reserve interest rate decisions, inflation data (CPI), the strength of the US dollar (DXY), geopolitical uncertainty, and central bank gold purchases. When real interest rates fall or inflation rises, gold typically gains value as investors seek a store of wealth outside fiat currencies.
For a breakdown in smaller units, see the gold price per gram. For long-term trends and historical performance, visit the gold price history page. You can also track the silver price alongside gold to monitor the gold/silver ratio.