What is the price of gold today?
Gold was trading at $2,731.69 per troy ounce as of 9 a.m. ET. That’s a -0.27% change since yesterday. The precious metal is up 32.20% since Jan. 1, 2024.
Over the last day, its highest trading price was $2,740.84, while its lowest was $2,717.18.
Gold spot prices
The spot gold price is XAU/USD, representing its price in U.S. dollars. For this symbol, it’s gold (XAU) trading against the dollar (USD). Other markets, though, trade in different currencies. The best-known labels include XAU/EUR for trading euros and XAU/GBP for British pounds.
Spot gold prices are listed as the price for a troy ounce. Troy ounces are used for trading precious metals and are slightly heavier than a standard ounce. However, prices can also be quoted in grams or kilos, so pay attention to the units.
Gold price chart
The chart below shows how the spot price of gold is trending over the year. The data is as of 9 a.m. ET and doesn’t display intraday highs or lows.
Gold is up 32.20% from the beginning of the year, as of 9 a.m. ET. The 52-week intraday high reached $2,758.51 on Oct. 23, 2024, and the 52-week intraday low dropped to $1,931.73 on Nov. 13, 2023.
Remember that the spot price of gold is quoted in real time and represents the current price at which gold can be bought or sold for immediate delivery. For most investors, the spot price usually differs from the price they’ll pay or receive when they decide to purchase or sell their gold.
How to invest 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.
Silver spot prices
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 $33.49 per ounce, as of 9 a.m. ET. That’s down 1.73% from the previous day’s silver price per ounce and up 39.98% since the beginning of the year.
The lowest trading price within the last day: $33.09 per ounce. The highest silver spot price in the last 24 hours: $33.97 per ounce.
Price of platinum
Platinum is another precious metal that commands attention. Rarer than gold and silver, its primary use is in automotive catalytic converters, which help reduce harmful emissions. Given the push for cleaner automotive technologies, the demand dynamics for platinum can vary, influencing its spot price.
The price of platinum opened at $1,018.89 per ounce, as of 9 a.m. ET. That’s down 1.67% from yesterday’s platinum price per ounce and up 3.15% year to date.
The lowest trading price within the last 24 hours: $1,004.01 per ounce. The highest platinum spot price in the last 24 hours: $1,030.67 per ounce.
Price of palladium
Another precious metal used in catalytic converters is palladium. The trend toward stricter emission standards may support demand. Combined with palladium’s scarcity, the metal can also have significant price fluctuations.
The price of palladium is $1,177.75 per ounce, as of 9 a.m. ET. That’s up 3.54% from yesterday’s palladium price per ounce and up 7.11% year to date.
The lowest trading price within the last 24 hours: $1,125.13 per ounce. The highest palladium spot price in the last 24 hours: $1,215.80 per ounce.
Frequently asked questions (FAQs)
It’s almost impossible to time the market to invest in gold. It can be a very volatile asset, and price fluctuations are difficult to predict.
Whether gold makes a good investment at present depends on various market conditions. What’s more, you should consider factors specific to you. Your time horizon, risk tolerance and investment goals are potentially more important than anything else.
Historically, gold has been seen as an inflation hedge and store of value during recessions. Others might use gold to diversify their portfolio from a concentration in stocks and bonds. Yet, like many investments, there’s no performance guarantee. Market conditions could easily defy your expectations.
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 October 25, 2024, the price of gold rose from $2,066.32 per troy ounce to $2,731.69, representing a 32.20% increase.