What is the gold spot price?

The gold spot price represents the current market price for one troy ounce of 24K (99.9% pure) fine gold for immediate settlement and delivery in the over-the-counter (OTC) global market.

How is gold priced per gram compared to troy ounce?

One international troy ounce is equivalent to exactly 31.1034768 grams. To convert the troy ounce price to price per gram, divide the ounce rate by 31.1035.

What is the difference between 24K, 22K, 21K, and 18K gold?

24K gold is 99.9% pure gold used for investment bullion. 22K is 91.6% pure, 21K is 87.5% pure, and 18K is 75.0% pure gold alloyed for jewelry durability.

When does the global gold market trade?

Global gold spot markets trade 24 hours a day from Sunday evening through Friday afternoon EST, following major financial centers in London, New York, Zurich, Tokyo, and Hong Kong.

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1 oz = 31.1035g

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💡 Gold Spot Market Guide & Frequently Asked Questions

Understand spot benchmark pricing, international trading sessions, karat calculations, and market mechanics.

The gold spot price is the current price at which one troy ounce of 24-karat pure gold (99.9% pure) can be bought or sold for immediate delivery in global financial markets.

Unlike gold futures contracts which specify settlement on a future date, spot transactions represent immediate physical or unallocated bullion trades. Major price discovery centers include the London Bullion Market (LBMA), COMEX in New York, Shanghai Gold Exchange, and Zurich.

Precious metals are weighed in troy ounces, where 1 troy ounce = 31.1034768 grams (heavier than a standard avoirdupois ounce of 28.3495 grams).

Price per gram = (Spot Price per Troy Ounce) / 31.1034768

Karat (K) indicates gold purity out of 24 parts:

24K (99.9% - 100%): Pure solid gold, soft and lustrous, primarily used for bullion bars and investment coins.
22K (91.6% or 916): Contains 22 parts gold and 2 parts alloy; the gold standard for high-end Asian and Indian jewelry.
21K (87.5% or 875): Common in Middle Eastern fine jewelry, offering enhanced durability while keeping high gold content.
18K (75.0% or 750): Composed of 75% gold and 25% alloys (copper, silver, zinc); highly resistant to scratches and widely used in Western luxury jewelry.

The gold spot market operates continuously 24 hours a day, 5 days a week, opening Sunday at 6:00 PM EST and closing Friday at 5:00 PM EST. As trading moves across time zones from Sydney and Tokyo to London, Zurich, and New York, continuous liquidity and real-time spot updates are maintained.

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