Gold Price Per Gram in gbp

Gold Price UK

These charts show the gold price today, from the spot price moving on screen now back through more than fifty years of benchmark data. Search for the gold rate in the UK — or the gold rate today — and you will find a dozen slightly different numbers; the chart above is the one our own product prices are built from, refreshed every 5 seconds.

It is also the gold spot price behind everything we sell: the current global price of gold traded 'for immediate payment and delivery'. Live trades move it constantly, so the number on screen will not be the number you saw a minute ago.

Historic gold price charts draw on benchmark records that reach back to 1970, set for each day the London market has operated.

Our Gold Price Charts let you monitor movements in the market and track the value of any gold investments you hold.

We use the same data that drives our Gold Price Charts to determine the prices of Gold Coins and Gold Bars listed for sale on our website, in line with movements in the gold market.

Who Sets The Gold Price?

Whilst the live Spot Price is an aggregated data feed of the gold price used in live transactions in global markets, it tends to be directed by the Gold Fix Price or London Fix. As London was historically the global centre for the gold market, the London Gold Market released a daily market price from 1919. By 1987 there was a need for an independent body to oversee the process and the London Bullion Market Association was formed.

The LBMA Gold Price is now set twice on each London trading day, at 10.30am and again at 3.00pm. It is published in US dollars, the currency gold is quoted in globally. Since 2015 the auction has been run by ICE Benchmark Administration, an FCA-regulated administrator, as an electronic auction between the accredited banks and trading houses that participate.

What Influences The Gold Price?

Gold is a commodity, and commodity prices tend to be driven by supply and demand. Demand — and with it the price of gold — has historically risen around events such as the Indian wedding season or Chinese New Year, while summer months have often seen it ease as investors and collectors take holidays. Industrial demand from the electronics and medical equipment industries also plays a growing supporting role.

Traditionally, gold is known as a safe haven asset by investors and the price of gold tends to rise when other asset classes fall, usually at times of economic or geo-political turmoil and unrest as investors move capital into gold, creating demand which then drives up the gold price.

Other factors which can affect the gold price are the state of the US Dollar and stock market performance.

Gold is priced in $USD, primarily because the US Dollar is currently accepted as the settlement method for global trade. All countries then produce their local gold price according to their own currency's exchange rate with the US Dollar. This means that the UK gold price and prices in other countries are subject to distortion by fluctuating currency exchange rates. For example, the UK gold price in £GBP rose steeply following the Brexit referendum result in 2016 but this was primarily because the value of the £GBP fell against the $USD making gold more expensive to buy in £GBP.

Currency moves feed into the same mechanism. Because gold is settled in US dollars, a stronger dollar has historically made gold more expensive in other currencies and cooled demand there, while a weaker dollar has often done the opposite. The UK gold price in £GBP shows this clearly: it rose steeply after the 2016 Brexit referendum largely because sterling fell against the dollar.

Stock market performance is often linked to movements in the gold price. If stock markets fall substantially there is usually a corresponding increase in the gold price as safe haven demand pushes up prices. During a rising stock market, gold prices often fall as investors chase additional income opportunities in the market by transferring out of gold and into stocks and shares. Since gold ownership does not produce an income, a similar effect is sometimes seen when interest rates rise making cash deposits a more profitable proposition than gold ownership. This transfer of wealth from gold to cash reduces demand for gold and lowers the gold price.

Why Buy Gold?

Many people purchase gold as an investment because of its inherent and intrinsic value, which has seen it weather many previous financial crises relatively unscathed. Gold bars and Gold coins have been the foundation of global economies for centuries and have a history of use stretching back thousands of years.

The huge variety of gold coins available from mints around the world also appeals to collectors who enjoy combining an investment with a hobby and learning about the background to the many different gold bullion coins available.

Investment gold, meaning bars and coins that meet HMRC's definition of investment gold, is exempt from VAT in the UK, and certain gold coins are capital gains tax free in the UK, which can be appealing for investors of larger sums.

The 2008 financial crisis pushed many savers towards holding part of their wealth outside the banking system, and the inflation of the early 2020s did so again. Gold pays no income, but it sits outside the banking system and has preserved its purchasing power across both episodes.

Which Gold to Buy?

There is always a wide choice of gold bars and gold coins available to the collector and investor but each product will have a 'fashion charge' (the trade's term for the fabrication and packaging costs built into the price). Fashion charges vary considerably between minted coins, minted bars and cast bars.

Minted coins not only tend to attract the highest fashion charges but can also carry a premium over the gold price due to their collectability. However, UK Legal Tender gold coins are Capital Gains Tax free in the UK, making the gold Sovereign, and particularly the gold 1oz Britannia especially popular with larger investors, despite slightly higher purchase prices.

Minted bars will have a higher fashion charge than cast bars and as the production cost for a bar is consistent, whatever its size, larger cast bars are usually the most cost effective way to buy based on gold price per gram.

A major consideration should be the likelihood or otherwise that you will need to sell or liquidate your asset at some point in the future. For example, if your purchase consists of a single large bar you will be unable to release only a small part of its value to cover an unexpected expense.

It may therefore be wiser to invest your chosen amount into several products which have individual values that more closely match your likely requirements in the event of future financial need. This strategy lessens the risk that a substantial asset would need to be sold when the current UK gold price is not at an optimum level.

Gold Price Per Gram for Scrap Gold

The same per-gram pricing that drives bullion also determines what unwanted gold is worth. Our scrap gold calculator works out the value of scrap gold by weight and carat, from 9ct jewellery through to fine bullion, using live market rates for each purity. If you want an indicative 9ct gold price per gram before you sell, simply select the carat in the calculator and the current rate is applied instantly. Once you know what your gold is worth, our sell-to-us page walks you through getting your items valued and paid for, with no obligation to accept the offer.