Gold Ounce Spot Price

The gold spot price represents the current market price for immediate delivery of gold. XAU is the ISO 4217 currency code for one troy ounce of gold. It is the global benchmark for gold trading and is quoted 24/7 across international markets.

A troy ounce is the standard unit for measuring precious metals, equal to 31.1035 grams. This is different from a regular (avoirdupois) ounce which equals 28.35 grams. All international gold prices are quoted per troy ounce.

Gold prices fluctuate continuously during trading hours due to real-time buying and selling in global markets. Key factors include US dollar strength, inflation expectations, interest rates, geopolitical tensions, central bank policies, and investor demand for safe-haven assets.

International gold prices are determined by global commodity markets, primarily the London Bullion Market (LBMA), COMEX futures in New York, and major Asian markets. The price reflects global supply (mining, recycling) and demand (jewelry, investment, central banks).

The spot price refers to pure 24K gold. Lower karat gold (22K, 21K, 18K) prices are calculated as a percentage of the spot price based on their gold content. For example, 21K gold contains 87.5% pure gold, so its price per gram is 87.5% of the 24K price.