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Frequently Asked Questions
Everything you need to know about gold prices, units and the precious metals market.
What is the spot price of gold?+
The spot price is the live market price for one troy ounce of pure (24k) gold for immediate delivery. It is set by trading on global exchanges such as COMEX in New York and the London Bullion Market (LBMA).
What is a troy ounce?+
A troy ounce equals 31.1034768 grams — slightly heavier than the standard avoirdupois ounce. All precious metals (gold, silver, platinum, palladium) are quoted per troy ounce.
How is the gold price per gram calculated?+
Divide the spot price per troy ounce by 31.1034768. For 22k or 18k gold, multiply by the purity factor: 0.9167 for 22k, 0.75 for 18k.
Why do dealers charge more than the spot price?+
Dealers add a premium to cover refining, minting, distribution and a profit margin. Premiums are usually 2–8% on bullion coins and bars, and much higher on collectible coins.
What is the difference between 22k and 24k gold?+
24k gold is 99.9% pure and very soft. 22k gold is 91.67% pure — alloyed with copper or silver for hardness, making it suitable for jewelry that needs to withstand daily wear.
What is a tola?+
A tola is a traditional South Asian unit of mass equal to 11.6638 grams. Gold is commonly traded by the tola in India, Pakistan, Bangladesh and Nepal.
Does GoldPriceZone sell gold?+
No. We are an information service that provides live precious metals prices, charts and calculators. We do not sell or broker any metals.
How often are prices updated?+
Live spot prices are refreshed every 60 seconds when markets are open. Currency exchange rates are refreshed every few minutes.
Are weekend gold prices different?+
Spot markets close late Friday and reopen Sunday evening (US time). The last traded price is shown over the weekend.
Is gold a good investment?+
Gold is traditionally used as a hedge against inflation and currency depreciation. It does not generate income, so its value depends entirely on what someone else will pay. Always consult a licensed financial advisor before investing.