Gold Price FAQ
Prices on this page use gold spot at $4,291.00/oz · updated
Short answers to the questions people ask most about gold prices, grouped by topic. Each links to the page with the full explanation. Live figures are as of September 23, 2026.
The gold price
Who sets the price of gold?
Nobody sets it. It comes out of continuous trading, mainly in COMEX gold futures in New York and the London wholesale market, plus a twice-daily London benchmark auction. Our per-ounce page walks through each.
What is today's gold price in dollars per ounce?
$4,291.00 for one troy ounce of pure gold at spot. See the live chart.
Is gold priced in regular ounces?
No. Gold uses the troy ounce, 31.1 grams, which is heavier than a kitchen ounce. Mixing them up overstates value by almost 10%.
What does "spot" mean?
The price for immediate settlement of wholesale gold. Retail prices add a premium when you buy and subtract a spread when you sell.
How often does this site update?
Headline prices update about once a minute while a page is open, from a named spot source, with a timestamp showing the age of the data. See about us.
Why doesn't your price match my dealer's?
Dealers quote retail prices, and different feeds capture different moments. Our homepage section "Why Gold Quotes Disagree" explains each gap.
Karats and jewelry
What does karat mean?
Parts of gold out of 24. 24k is pure, 18k is 75% gold, 14k is 58.3% and 10k is 41.7%.
How much is a gram of my jewelry worth?
Find the karat stamp, then use the karat price: 10k · 14k · 18k · 22k · 24k.
What if my jewelry has no stamp?
It may still be gold. Older and handmade pieces often lack marks. A buyer can test it with acid or an XRF analyzer.
Does white gold contain less gold than yellow gold?
Not at the same karat. The color comes from the other metals in the alloy, plus rhodium plating on white gold.
What do GF and GP mean?
Gold-filled and gold-plated. Both are base metal with a gold layer, worth far less than solid gold.
Coins
Which gold coins contain exactly one ounce of gold?
The one-ounce American Gold Eagle, Krugerrand, American Buffalo and Canadian Maple Leaf. The $20 Double Eagle contains 0.9675 oz.
Why do some one-ounce coins weigh more than an ounce?
The Eagle and Krugerrand are 22k alloy, so they weigh about 9% more to hold a full ounce of gold.
Are old US gold coins worth more than their gold?
Often. Pre-1933 coins usually carry a collector premium. See the Double Eagle page.
Which gold coins can go in an IRA?
Gold Eagles, Buffalos and Maple Leafs qualify. Krugerrands and pre-1933 US coins don't.
Calculator: gold coin melt value.
Buying gold
Can I buy gold at the spot price?
Not as a retail buyer. Expect to pay spot plus a premium.
Are bars or coins cheaper?
Per ounce, larger bars usually carry the lowest premium. See gold bar prices by size.
What's the minimum to buy through a gold IRA company?
It varies widely by company. Our recommended partner, Augusta Precious Metals, requires $50,000. See our buying guide for details and alternatives.
How do I avoid overpaying?
Compare the total price per ounce of gold across dealers, get fees in writing, and be wary of pressure to buy "rare" coins.
Selling gold
What will a buyer pay for my gold?
A share of melt value, often roughly 70–90% at mail-in buyers and less at pawn shops. Typical ranges are on each karat page.
How do I calculate melt value?
Weight × purity × spot price. Use the melt calculator or, for mixed lots, the scrap calculator.
Why do buyers quote in pennyweights?
It's the traditional US jewelry-trade unit. One pennyweight is 1.555 g. Convert with our pennyweight page.
Is now a good time to sell?
We can't tell you that. What we can say is that shopping several buyers usually matters more than timing. See gold price history for how prices have moved.
Storage and safety
Where should I keep physical gold?
The main options are at home, in a bank safe-deposit box, or in a professional depository. Each trades cost against security and access. Our buying guide compares them.
Is gold in a bank box insured?
Usually not by the bank, and not by the FDIC. Check your homeowner's or a separate policy.
Should I keep the packaging?
Yes. Original tubes, capsules and assay cards make coins and bars quicker to sell and easier to verify.
How do I spot a fake coin or bar?
Check weight and dimensions against the official specifications, then use density, ring and magnet tests as supporting evidence. Each coin page lists the specs.
Taxes
Do I pay tax when I sell gold?
In the US, gains on physical gold held outside a retirement account are generally taxed as collectibles, at a higher maximum long-term rate than stocks. Inside an IRA, IRA rules apply. For your situation, ask a tax professional.
Do dealers report my sales to the IRS?
For some transactions, yes. Certain sales of gold bars and some bullion coins in large quantities are reportable, and so are cash payments over $10,000 received by a business. See the gold price per kilo page for an example.
Records and history
What is the highest gold price ever?
A record close of $5,318.40 on January 29, 2026. See all-time high.
How many ounces of silver equal one ounce of gold?
About 66.3 today. See the gold to silver ratio.