Part of: Gold purity explained
To track the gold price, follow two numbers: the spot price, which changes every few seconds while markets are open, and the LBMA Gold Price, the London benchmark set twice each working day at 10:30 and 15:00. Both are quoted in US dollars per troy ounce, so in the UK the pound against the dollar matters too. Use a reliable market source for the price and a long-term chart for trends, and remember that what a buyer pays for your gold depends on much more than the market price.
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Spot price or LBMA Gold Price?
- What it is
- Spot price
- The live price for gold delivered now
- LBMA Gold Price
- The London benchmark price
- How often
- Spot price
- Continuously while markets are open
- LBMA Gold Price
- Twice each London working day, at 10:30 and 15:00
- How it is set
- Spot price
- Trading between banks, dealers and exchanges
- LBMA Gold Price
- An electronic auction run by ICE Benchmark Administration
- Currency
- Spot price
- US dollars per troy ounce (converted for other currencies)
- LBMA Gold Price
- US dollars per troy ounce, with sterling and euro prices
- Used for
- Spot price
- Following the market minute by minute
- LBMA Gold Price
- Contracts, valuations and official reference
Where to follow the gold price
- LBMA (London Bullion Market Association): publishes the official LBMA Gold Price twice a day.
- World Gold Council: its Goldhub site has historical prices, charts and research on demand from jewellery, investors and central banks.
- Financial news: Reuters, Bloomberg and the Financial Times report the market and explain big moves.
- Exchanges: COMEX futures in New York and the Shanghai Gold Exchange show trading in the two biggest markets.
- Hong Kong: the Chinese Gold and Silver Exchange Society in Hong Kong publishes its own local prices for those following the Hong Kong market.
How to track gold price trends over time
- Use long-term charts, not just today’s figure: one year, five years and longer show the real trend.
- Compare in your own currency. A rise in dollars can look smaller, or larger, in pounds.
- Set alerts with a market app or news service for moves that matter to you, rather than checking constantly.
- Read the reason behind a big move before acting on it.
What moves the gold price?
- Interest rates and the US dollar. Gold earns no interest, so higher rates and a stronger dollar tend to weigh on it.
- Inflation and uncertainty. Gold is bought as a store of value in uncertain times.
- Central bank buying. Central banks hold gold in their reserves and their buying is followed closely.
- Investment demand, including exchange-traded funds that hold gold.
- Jewellery demand, above all in India and China.
What the gold price means when you sell
The market price is the price of pure gold in bulk. A buyer’s offer for your jewellery is a different thing:
0 of 3 checked
1Your gold is an alloy
Your gold is an alloy 9KT, 14KT and 18KT contain less than pure gold.
2Testing, refining and handling
Testing, refining and handling all cost money for scrap gold.
3Jewellery can be worth more than its gold
Antique, signed and gem-set pieces are valued as jewellery.
Thinking of selling gold? Send clear photographs of the piece and its marks for a free, honest check.
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What decides what your gold will fetch?
The carat and the marks, how heavy the piece is, the maker, its age and style, any gemstones, its condition and whether it sells as jewellery or as scrap, on the day of sale. We never publish figures; every piece is different, so send us photographs for a free valuation.
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- Carat and marks
- Maker
- Age and style
- Gemstones
- Condition
- Jewellery or scrap
How selling works
- 1
Send photographs
of the piece and close-ups of every mark.
- 2
Free value inspection
We reply within one working day with an estimate, subject to inspection. If our offer differs, you can decline and we return it at our cost.
- 3
Paid the same day after inspection
by bank transfer or in cash, in Mayfair, at our Braintree office, by post or by free collection.
Questions people ask
What is the best way to track the gold price?
Follow the spot price on a reliable market source, check the LBMA Gold Price for the official London benchmark, and use long-term charts in your own currency for trends.
What is the LBMA Gold Price?
The London benchmark price for gold, set twice each working day at 10:30 and 15:00 through an electronic auction run by ICE Benchmark Administration.
Why is the gold price quoted in dollars?
The international gold market trades in US dollars per troy ounce. Prices in pounds and other currencies are converted from it, so exchange rates matter.
Which sources are best for gold price trends?
The LBMA for the benchmark, the World Gold Council’s Goldhub for historical data and research, and major financial news services for daily moves.
How can I track the Hong Kong gold price?
The Chinese Gold and Silver Exchange Society in Hong Kong publishes local prices; international prices are quoted in dollars per troy ounce.
Does the gold price tell me what my jewellery is worth?
No. It is the price of pure gold in bulk. Your piece’s carat, maker, age, gemstones and condition all matter, so have it valued.
Related guides
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