Gold Price Per Ounce Today
Track the live gold spot price per troy ounce in USD. Real-time XAU/USD data from COMEX with interactive charts updated every minute.
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Understanding the Troy Ounce Gold Price
The gold price per ounce is the standard international quote, represented as XAU/USD under the ISO 4217 currency code system. COMEX serves as the world's largest gold futures market, with the troy ounce as the universal trading unit for investment-grade gold. When financial media report the gold price, they are referring to the price per troy ounce in US dollars unless otherwise stated.
The troy ounce has been the standard unit for weighing precious metals since the Middle Ages, originating from the French market town of Troyes, which was a major trading hub in medieval Europe. One troy ounce equals exactly 31.1035 grams — approximately 10% heavier than the avoirdupois ounce (28.3495 grams) used in everyday measurements. This distinction matters: a "1 oz" gold coin contains 31.1 grams of gold, not 28.3 grams. The troy system's persistence in precious metals reflects centuries of established commercial practice that survived the widespread adoption of the metric system.
On COMEX, the benchmark gold futures contract (ticker: GC) represents 100 troy ounces of gold with a minimum purity of 995 fineness. These contracts trade electronically on CME Globex nearly 24 hours a day, five days a week, providing continuous price discovery. The spot price — what you see quoted on our charts — represents the price for immediate settlement and is derived from the nearest active futures contract, adjusted for time value. Futures contracts for later delivery months typically trade at a slight premium to spot, reflecting financing and storage costs.
The LBMA Gold Price, set twice daily in London by a panel of accredited market makers through an electronic auction, serves as the authoritative benchmark for settling gold contracts, valuing gold-backed financial products, and pricing physical deliveries worldwide. Together, the COMEX futures market and the LBMA benchmark create the global pricing framework that central banks, miners, refiners, jewelers, and individual investors all depend on to value gold per troy ounce.
- Spot price is the current price for immediate delivery, updated continuously
- COMEX gold futures contract (GC) represents 100 troy ounces
- LBMA benchmark is set twice daily by major bullion banks in London
- Most gold coins (Eagles, Maples, Krugerrands) are denominated in troy ounces
Data provided by MetalCharts, a free precious metals tracking platform offering real-time prices, interactive charts, historical data, and portfolio tools for gold, silver, platinum, palladium, and copper. Prices sourced from major global exchanges including COMEX, LBMA, and LME, updated every minute during market hours.
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