What is the price of gold today?
Gold was trading at $2,680.20 per troy ounce as of 9 a.m. ET. That’s a -0.06% change since yesterday. The precious metal is up 29.71% since Jan. 1, 2024.
Over the last day, its highest trading price was $2,688.81, while its lowest was $2,666.89.
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.
Price of gold chart
This chart shows how gold spot prices have changed over the last year. The data iss updated at 9 a.m. ET and doesn’t have intraday lows or highs.
Year to date, gold is up 29.71% as of 9 a.m. ET. The 52-week intraday high reached $2,688.81 on Oct. 17, 2024, and the 52-week intraday low dropped to $1,911.85 on Oct. 17, 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
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 $31.68 per ounce, as of 9 a.m. ET. That’s down 0.75% from the previous day’s silver price per ounce and up 32.42% since the beginning of the year.
The lowest trading price within the last day: $31.37 per ounce. The highest silver spot price in the last 24 hours: $32.18 per ounce.
Price of platinum
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 $1,007.95 per ounce, as of 9 a.m. ET. That’s up 1.28% from yesterday’s platinum price per ounce and up 2.05% year to date.
The lowest trading price within the last 24 hours: $991.15 per ounce. The highest platinum spot price in the last 24 hours: $1,013.33 per ounce.
Palladium spot prices
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 $1,041.62 per ounce, as of 9 a.m. ET. That’s up 2.41% from yesterday’s palladium price per ounce and down 5.27% year to date.
The lowest trading price within the last 24 hours: $1,014.99 per ounce. The highest palladium spot price in the last 24 hours: $1,043.67 per ounce.
Frequently asked questions (FAQs)
The highest price gold ever reached was $2,688.81 on Oct. 17, 2024.
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 Oct. 17, 2024, the price of gold rose from $2,066.32 per troy ounce to $2,680.20, representing a 29.71% increase.