What the gold price on this page means
The number at the top is the spot price: the wholesale price for one troy ounce of pure gold (or silver) that is traded for immediate delivery. It is a benchmark that news sites, jewelers and dealers use as a starting point. It is not a price you can walk into a shop and get. The spot figures here come from the gold-api.com service and are refreshed twice a day, so they can be a few hours old, and on weekends they show the last trade before the markets closed. Treat them as a reference only, not a dealer quote.
Why a dealer's price is not the spot price
A dealer buys below spot and sells above it. The gap between the two is called the spread, and the amount added on top of spot when you buy is the premium. Both depend on the product (small coins usually carry a bigger premium per ounce than large bars), on how much demand there is that week, and on whether the item is new bullion, used jewelry or scrap. Jewelry and scrap are normally bought for their pure-gold content only, at a percentage of spot, so a ring is not worth "spot times weight". Before any purchase or sale, compare written quotes, ask for all fees, and check how the seller will weigh and test the item. We do not recommend buying or selling anything, and this site does not rank or name dealers.
Troy ounce, gram, lượng, chỉ: the weight units
Gold is priced per troy ounce, which is 31.1035 grams. That is heavier than the regular (avoirdupois) ounce of 28.3495 grams used for food and packages, so mixing them up costs real money. Around the world, people use other traditional units, and the converter above handles them all:
- Tael / lượng (Vietnam): 37.5 grams, about 1.2057 troy ounces. One lượng equals 10 chỉ of 3.75 grams each.
- Chinese tael (liǎng): 50 grams in mainland China. Hong Kong gold uses about 37.43 grams, and Singapore and Malaysia about 37.8 grams, so always ask which "tael" a shop means.
- Indian tola: about 11.66 grams (180 grains).
- Thai baht (weight): 15.244 grams for gold bars; Thai gold jewelry uses 15.16 grams. This is a weight here, not the currency.
- Pennyweight (dwt): 1.5552 grams, used by U.S. jewelers; 20 dwt make one troy ounce.
A quick example, using an assumed spot price of $4,000 per troy ounce (not today's price): 1 gram of pure gold is about $128.60, and 1 lượng (37.5 grams) of pure gold is about $4,823. Use the converter with the real price to see your own numbers.
Karat and purity
Karat (K) tells you how many parts out of 24 are pure gold: 24K is pure, 22K is about 91.7% gold, 18K is 75%, 14K is about 58.3% and 10K is about 41.7%. The converter multiplies the weight by the purity before it applies the price, so it values only the gold inside the item. For silver, common purities are 999 (fine), 925 (sterling) and 900 (old U.S. silver coins made before 1965).
Taxes in the U.S. (general information)
The IRS treats gold, silver and other precious metals as capital assets, so a profit from selling is usually a capital gain. Physical metals such as gold, silver and platinum bullion, and coins, fall in the collectibles category. Net long-term gains on collectibles (items held more than one year) are taxed at a maximum rate of 28%, which can be higher than the 0%, 15% or 20% rates that apply to many stocks. Gains on items held one year or less are taxed at ordinary income rates. Your own result depends on your income, your records and other factors, so talk to a tax professional or read the IRS pages listed in the data sources below.
The price history chart
The chart uses monthly average prices in nominal U.S. dollars from the World Bank's Commodity Price Data (the "Pink Sheet"), not the live spot price, so it will not match today's number exactly. It is not adjusted for inflation; a dollar in 2021 bought more than a dollar does today. Past prices do not predict future prices.
Frequently asked questions
Why is the price a dealer quotes different from the spot price?
Spot is a wholesale benchmark for pure metal. A dealer sells above it to cover costs and profit (the premium), and buys below it (the spread). Coins, small bars, jewelry and scrap each have different premiums or discounts, and fees or shipping may be added.
How do I convert lượng, chỉ and tael to grams?
In Vietnam, 1 lượng is 37.5 grams and 1 chỉ is 3.75 grams (10 chỉ = 1 lượng). A Chinese tael is 50 grams. Other places use different taels, for example about 37.43 grams in Hong Kong, so confirm the unit before you compare prices. Type the weight into the converter above to see it in every unit.
Is gold taxed differently from stocks in the U.S.?
Often, yes. The IRS counts physical gold and silver bullion and coins as collectibles, so net long-term gains are taxed at up to 28%. Stock gains held more than a year usually have lower maximum rates. This is general information, not tax advice; check IRS Topic 409 or ask a tax professional about your situation.
This page is general information, not investment, tax or legal advice, and not an offer to buy or sell. Spot prices are indicative and may be delayed.