LemonTrades
TL;DR
- 24K gold is essentially pure, so its price per troy ounce is the spot gold price, shown live below.
- Gold is sold by the troy ounce, 31.1 grams, which is about 10% heavier than an ordinary ounce.
- Coins and small bars cost more than spot because dealers add a premium.
- LemonTrades follows the gold price for you and tells you what moved it, and why, within seconds.
When you see “the price of gold,” that’s the price of one troy ounce of pure, 24-karat gold. Here it is, live.
What 24K means
Karat measures purity out of 24 parts, so 24K is pure gold. In practice, it’s 99.9% or 99.99% pure, stamped 999 or 9999. It’s soft, which is why most jewelry is 14K or 18K. Investment bars and many coins are 24K.
Troy ounces and regular ounces
The troy ounce is 31.1035 grams. A regular (avoirdupois) ounce, like on a kitchen scale, is 28.35 grams. If a scale says “1 oz,” that’s less gold than a troy ounce. All bar weights: how much does a gold bar weigh?.
What you’d really pay
- 24K coins like the American Buffalo and Canadian Maple Leaf cost a few percent or more over spot.
- The American Gold Eagle is 22K but still contains a full ounce of gold.
- Small bars carry the highest premium per ounce. See the cost of gold.
- Gold ETFs hold gold bars and trade near spot, with a small yearly fee. See the best gold ETFs.
What moves the price
Interest rates, the US dollar, inflation and fear. See why gold goes up. All the karats per gram: gram of gold price.
Sources
Education, not financial advice. See our disclaimer.
