Price of gold as of October 4, 2023
What is the current gold price?
As of 9 a.m. ET, the price of gold was $1,827.36 per troy ounce. That represents an increase of 0.13% from yesterday’s gold price per ounce and a decrease of 0.63% from the year’s commencement.
The ounce’s lowest trading price over the last 24 hours was $1,816.77. The most expensive spot gold price in the previous 24 hours was $1,833.42 per ounce.
Unlike futures contracts, which indicate a future delivery, spot prices represent the costs of transactions that are resolved “on the spot,” or right away.
The price of gold might change as the trading day moves from Asia to North America because it is traded continuously.
The label for locating the spot gold price exchanged in U.S. dollars is XAU/USD. In this instance, the price of one (troy) ounce of gold in USD is represented by the price of gold (XAU), which is traded against the dollar. Other foreign exchange markets exist, such as XAU/EUR for trading in euros and XAU/GBP for dealing in British pounds.
During market hours, the price is adjusted every few seconds based on real-time trading activity.
Numerous factors, including global supply and demand dynamics, geopolitical developments, changes in the value of the currency, interest rates, and macroeconomic indicators, have an impact on it.
spot price of gold
The spot gold price, which is commonly expressed as the gold price per troy ounce in U.S. dollars, is the price at which gold can be traded and delivered. Prices can also be given in terms of grammes and kilogrammes. It’s important to remember that a troy ounce weighs a little bit more than a regular ounce.
