Gold Price Today


Gold Rate Today


Gold price per gram today is USD 40.31 in the international gold market. Today's live gold rate per kilogram is USD 40,305.78. Current price of gold per ounce is USD 1,253.65. Live price of silver today per ounce is USD 18.27 and one kilo of silver in the international silver market is being sold at USD 587.39. Silver price per gram is USD 0.59 today.

Current platinum prices today per ounce is USD 1,027.00 and the platinum rate per kilogram is USD 33,018.82. In the international market the live price of platinum per gram is USD 33.02. Palladium price per gram today is USD 25.27 and palladium rate per kilo is USD 25,270.49. Palladium rate trend now in the global market is USD 786.00 per ounce.

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Price of Gold

Quantity Gold Prices Change
Gold price per gram USD 40.31 USD -0.0547
Gold price per sovereign USD 322.45 USD -0.4373
Gold price per tola USD 470.12 USD -0.6375
Gold price per ounce USD 1,253.65 USD -1.7
Gold price per kilogram USD 40,305.78 USD -54.6563

Price of Silver

Quantity Silver Prices Change
Silver price per gram USD 0.5874 USD +0.0087
Silver price per sovereign USD 4.6992 USD +0.0694
Silver price per tola USD 6.8513 USD +0.1013
Silver price per ounce USD 18.270 USD +0.2700
Silver price per kilogram USD 587.39 USD +8.6807

Gold/Silver Price Trend

Last 30 Days

In last 30 days, the highest gold price was recorded on 2017-02-24, which was USD 1,255.35 per ounce and the lowest gold price was recorded on 2017-01-27, which was USD 1,184.20 per ounce. The highest silver price was on 2017-02-24, which was USD 18.27 per ounce and the lowest silver price was on 2017-01-27, which was USD 16.70 per ounce.

Last 60 Days

In last 60 days, the highest gold rate was recorded on 2017-02-24, which was USD 1,255.35 per ounce and the lowest gold rate was recorded on 2016-12-28, which was USD 1,134.60 per ounce. The highest silver rate was on 2017-02-24, which was USD 18.27 per ounce and the lowest silver rate was on 2016-12-28, which was USD 15.85 per ounce.

Last 90 Days

In last 90 days, the highest gold cost was recorded on 2017-02-24, which was USD 1,255.35 per ounce and the lowest gold cost was recorded on 2016-12-20, which was USD 1,125.70 per ounce. The highest silver cost was on 2017-02-24, which was USD 18.27 per ounce and the lowest silver cost was on 2016-12-23, which was USD 15.74 per ounce.



Price of Platinum

Quantity Platinum Prices Change
Platinum price per gram USD 33.02 USD +0.3858
Platinum price per sovereign USD 264.15 USD +3.0865
Platinum price per tola USD 385.13 USD +4.5000
Platinum price per ounce USD 1,027.00 USD +12.0000
Platinum price per kilogram USD 33,018.82 USD +385.8090

Price of Palladium

Quantity Palladium Prices Change
Palladium price per gram USD 25.27 USD +0.2251
Palladium price per sovereign USD 202.16 USD +1.8004
Palladium price per tola USD 294.75 USD +2.6250
Palladium price per ounce USD 786.00 USD +7.0000
Palladium price per kilogram USD 25,270.49 USD +225.0552

Platinum/Palladium Price Trend

Last 30 Days

In last 30 days, the highest platinum price was recorded on 2017-02-24, which was USD 1,027.00 per ounce and the lowest platinum price was recorded on 2017-01-27, which was USD 965.00 per ounce. The highest palladium price was on 2017-02-17, which was USD 793.00 per ounce and the lowest palladium price was on 2017-01-27, which was USD 713.00 per ounce.

Last 60 Days

In last 60 days, the highest platinum rate was recorded on 2017-02-24, which was USD 1,027.00 per ounce and the lowest platinum rate was recorded on 2016-12-29, which was USD 898.00 per ounce. The highest palladium rate was on 2017-02-17, which was USD 793.00 per ounce and the lowest palladium rate was on 2016-12-29, which was USD 670.00 per ounce.

Last 90 Days

In last 90 days, the highest platinum cost was recorded on 2017-02-24, which was USD 1,027.00 per ounce and the lowest platinum cost was recorded on 2016-12-29, which was USD 898.00 per ounce. The highest palladium cost was on 2017-02-17, which was USD 793.00 per ounce and the lowest palladium cost was on 2016-12-22, which was USD 653.00 per ounce.


Gold

Like other precious metals, gold is measured by troy weight and by grams. When it is alloyed with other metals the term carat or karat is used to indicate the purity of gold present, with 24 carats being pure gold and lower ratings proportionally less. The purity of a gold bar or coin can also be expressed as a decimal figure ranging from 0 to 1, known as the millesimal fineness, such as 0.995 being very pure.

Gold Price

The price of gold is determined through trading in the gold and derivatives markets, but a procedure known as the Gold Fixing in London, originating in September 1919, provides a daily benchmark price to the industry. The afternoon fixing was introduced in 1968 to provide a price when US markets are open.

Historically gold coinage was widely used as currency; when paper money was introduced, it typically was a receipt redeemable for gold coin or bullion. In a monetary system known as the gold standard, a certain weight of gold was given the name of a unit of currency. For a long period, the United States government set the value of the US dollar so that one troy ounce was equal to $20.67 ($0.665 per gram), but in 1934 the dollar was devalued to $35.00 per troy ounce ($0.889/g). By 1961, it was becoming hard to maintain this price, and a pool of US and European banks agreed to manipulate the market to prevent further currency devaluation against increased gold demand.

On 17 March 1968, economic circumstances caused the collapse of the gold pool, and a two-tiered pricing scheme was established whereby gold was still used to settle international accounts at the old $35.00 per troy ounce ($1.13/g) but the price of gold on the private market was allowed to fluctuate; this two-tiered pricing system was abandoned in 1975 when the price of gold was left to find its free-market level. Central banks still hold historical gold reserves as a store of value although the level has generally been declining. The largest gold depository in the world is that of the U.S. Federal Reserve Bank in New York, which holds about 3% of the gold known to exist and accounted for today, as does the similarly laden U.S. Bullion Depository at Fort Knox. In 2005 the World Gold Council estimated total global gold supply to be 3,859 tonnes and demand to be 3,754 tonnes, giving a surplus of 105 tonnes.

Sometime around 1970 the price began in trend to greatly increase, and between 1968 and 2000 the price of gold ranged widely, from a high of $850 per troy ounce ($27.33/g) on 21 January 1980, to a low of $252.90 per troy ounce ($8.13/g) on 21 June 1999 (London Gold Fixing). Prices increased rapidly from 2001, but the 1980 high was not exceeded until 3 January 2008 when a new maximum of $865.35 per troy ounce was set. Another record price was set on 17 March 2008 at $1023.50 per troy ounce ($32.91/g).

In late 2009, gold markets experienced renewed momentum upwards due to increased demand and a weakening US dollar. On 2 December 2009, Gold reached a new high closing at $1,217.23. Gold further rallied hitting new highs in May 2010 after the European Union debt crisis prompted further purchase of gold as a safe asset. On 1 March 2011, gold hit a new all-time high of $1432.57, based on investor concerns regarding ongoing unrest in North Africa as well as in the Middle East.

From April 2001 to August 2011, spot gold prices more than quintupled in value against the US dollar, hitting a new all-time high of $1,913.50 on 23 August 2011, prompting speculation that the long secular bear market had ended and a bull market had returned. However, the price then began a slow decline towards $1200 per troy ounce in late 2014 and 2015.

Gold jewelry consumption by country in tonnes

Country 2009 2010 2011 2012 2013
India 442.37 745.70 986.30 864.00 974.00
China 376.96 428.00 921.50 817.50 1120.10
United States 150.28 128.61 199.50 161.00 190.00
Turkey 75.16 74.07 143.00 118.00 175.20
Saudi Arabia 77.75 72.95 69.10 58.50 72.20
Russia 60.12 67.50 76.70 81.90 73.30
United Arab Emirates 67.60 63.37 60.90 58.10 77.10
Egypt 56.68 53.43 36.00 47.80 57.30
Indonesia 41.00 32.75 55.00 52.30 68.00
United Kingdom 31.75 27.35 22.60 21.10 23.40
Japan 21.85 18.50 30.10 7.60 21.30
South Korea 18.83 15.87 15.50 12.10 17.50
Vietnam 15.08 14.36 100.8 77.00 92.20
Thailand 7.33 6.28 107.40 80.90 140.10

Fineness

The fineness of a precious metal refers to the ratio by weight of the primary metal to any added base metals or impurities. Many precious metals are used in the form of alloys. Other metals are added to increase hardness, to make the metal more practical for use in such items as coins and jewelry, or to decrease the cost of the alloy.

For example, copper is added to the precious metal silver to make a more durable alloy for use in coins, housewares and jewelry. Coin silver, which was used for making silver coins in the past, contains 90% silver and 10% copper, by mass. Sterling silver contains 92.5% silver and 7.5%, by mass, of other metals, usually copper.

Various ways of expressing fineness have been used and two remain in common use: millesimal fineness expressed in units of parts per 1,000 and karats used only for gold. Karats measure the parts per 24, so that 18 karat = 18/24 = 75% and 24 karat gold is considered 100% gold.


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