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Gold Slips, 'Needs New Catalyst' as Record-Low Real Rates Fail to Stir Prices

02 Aug 2021, 09:12:23

GOLD PRICES edged lower on Monday despite real interest rates on US government debt – against which bullion tends to move inversely – trading near all-time lows as global market focus on America's latest jobs data, due out this coming Friday, writes Atsuko Whitehouse at BullionVault. Spot gold ...  Read on

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BullionVault's Gold Price Chart

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Gold Price Per Ounce

The above chart displays what the gold price per Troy ounce is right now in GBP. You can also see how much one ounce of UK gold cost in British Pounds over recent hours, days, weeks, months and years as well.

When traders quote a UK value for how much gold is worth at current prices, they usually say simply “gold price per ounce”, omitting the word “Troy”. That's even though a Troy ounce of gold is almost 10% heavier than a standard ounce.

The Troy weights system originated in the French city of Troyes. It was the basis for Britain's coinage in the Middle Ages. Based on the value of gold and silver, it was introduced by Henry II – who also ruled the western part of France – in the 12th Century.

A pure Troy ounce contains 31.1035 grams of 24-carat fine gold, almost 3 grams more than the cook's 'avoirdupois' measurement. One kilogram of fine gold contains approximately 32.15 Troy ounces.

The chart above enables you to view the British Pounds price of gold per ounce both now and over the last week. You can alter it to see the UK price for an ounce of gold in other time frames, from the last 10 minutes to the last 20 years.

BullionVault's chart library is written in JavaScript and hosted on our own servers. This helps keep this spot price up-to-date 24/7, allowing you to monitor bullion market prices in real-time, whilst switching easily between gold prices per ounce and prices per Kg.

You can also view the current value of gold per ounce in different currencies including GBP, USD, EUR, AUD and CAD.

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Chart FAQ

This chart is a live feed of the spot price in the wholesale market. It closes over the weekend and public holidays. BullionVault on the other hand never shuts. It allows you to trade 24 hours a day, every day of the year.
Set a custom gold price alert to be emailed whenever the gold price moves through your chosen value. Alternatively, follow our Tweets to be alerted whenever the gold price moves by a particular amount.
Yes. BullionVault gives private investors around the world access to the professional bullion markets. You can benefit from the lowest costs for buying, selling and storing, starting from 1 gram at a time – just a fraction of one ounce. Calculate commission and storage fees using our cost calculator.
London is the heart of the worlds physical gold market. Twice a day, its biggest bullion banks agree a price to clear their outstanding order, and the London Bullion Market Association publishes that price on its website.
The price is determined on UK working weekdays at 3pm London time for gold (mid-day for silver, 2pm for platinum). The prices are made public at midnight. Orders are processed shortly after the price is determined using a provisional, estimated price, and then adjusted to the published price on the following working day. Place your order for gold by 2:35pm (11:45am for silver, 1:45pm for platinum).
No Daily Price is published on Saturday and Sunday, or on certain UK public holidays.
Yes. Ordering at the Daily Price is an easy way to buy and sell. Tell us how much you want to trade and well do the rest for you.
The actual bullion and cash normally takes two working days to settle to your account. For a purchase, your funds stay in your account and are reserved until the bullion is settled. Likewise for a sale, the bullion you are selling is reserved in your account until you receive the cash, typically after two working days.
Open orders are only executed on days when an appropriate gold price is published.
The Daily Price is published in troy ounces in US Dollars, Euros and British Pounds (1 troy oz = 0.0311034768 kg). On BullionVault you place orders in kilograms. We convert the as-published price of gold per ounce to a price of gold per kg and round up to the nearest Dollar, Euro and Pound. We use the same gold price per kg for buying and for selling with no spread.
Articles exploring gold and its relationship with the financial markets are published on BullionVault’s Gold News each day. Additionally, once you open a BullionVault account you can opt-in to receive the Weekly Market Update. This weekly email explores and discusses current movements in the silver, platinum and gold prices and the reasons behind them.
BullionVault is now the world’s largest online investment gold, silver and platinum service, currently taking care of some $3.8 billion for more than 95,000 users.
Yes. You can monitor the current price of gold today by changing the chart scale to 10 minutes, 1 hour, 6 hours or 1 day. You can also keep track of the gold price on your iPhone or Android device with the BullionVault App.

Gold price charts

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