The gold price moves with investor demand, interest rates, the US dollar, central bank buying and worries about the economy or world events. Nobody can reliably predict the next move, so most sellers do better by checking today's price and comparing offers than by trying to time the market.
The price you see is a market price
The gold price on our calculator is the spot price. That’s the price for one troy ounce of pure gold, traded in large amounts, right now. It changes every few seconds on weekdays as banks, funds, refiners and traders buy and sell around the world.
There is also an official benchmark set in London. The LBMA Gold Price is set twice each weekday, at 10:30 and 15:00 London time, in US dollars per troy ounce. Many contracts and reports use it, but the price you see during the day moves between those two settings.
A buyer’s offer for your gold starts from the spot price, then takes off their costs and margin. See spot price vs scrap price for how that works.
Who buys gold, and why it matters
The World Gold Council describes gold as having a “dual nature”. People buy it both to use and to hold as an investment. The main groups of buyers are:
- Jewelry buyers. Demand for jewelry tends to change with incomes, local traditions and the price itself. When the price jumps, jewelry buying often slows.
- Investors. People and funds buy bars, coins and gold funds. This group moves quickly and often has the biggest short-term effect on the price.
- Central banks. Many national banks hold gold as part of their reserves. When they buy steadily, it adds demand that doesn’t depend on day-to-day trading.
- Technology. A small share goes into electronics and other industrial uses.
On the supply side, gold comes from mines and from recycling, which includes the old jewelry and scrap that people like you sell. Mine output changes slowly, so supply can’t quickly rise to meet a jump in demand. Recycling can respond faster, because more people sell when prices are high.
The main things that push the price up or down
Interest rates
Gold pays no interest. When interest rates are high, savings accounts and bonds look more attractive, and holding gold “costs” more in income you give up. When rates fall, or people expect them to fall, gold often looks more appealing. The effect isn’t automatic, and gold has risen during some periods of rising rates too.
The US dollar
Gold is priced in US dollars worldwide. When the dollar weakens, gold becomes cheaper for buyers using other currencies, which can lift demand. A stronger dollar can work the other way. If you sell in another currency, the exchange rate also changes your local price, which is why the site lets you switch currency.
Uncertainty and fear
During periods of economic trouble, war or market crashes, many investors move money into gold as a “safe haven”. This kind of buying can push the price up quickly. When calm returns, some of that money flows back out.
Inflation worries
Many people buy gold to protect their savings when they think prices in the shops will keep rising. The link between inflation and gold is loose over short periods, but worries about inflation are often part of why investors buy.
Central bank buying and selling
Large, steady purchases by central banks support the price. If they slowed their buying or started selling, that support would weaken.
What this means if you’re selling
- Nobody can reliably predict the next move. Experts disagree all the time, and short-term moves can go either way. Waiting for a higher price can pay off, or the price can fall while you wait.
- Prices change during the day. Check the price on the day you sell, and ask when a buyer’s quote is locked. A quote from yesterday may not hold today.
- Your offer matters more than small price moves. The gap between a low offer and a fair one is often bigger than a typical daily price swing. Comparing two or three buyers usually does more for you than timing. See how to tell if a gold offer is fair.
- Look at the long view if you’re curious. Our price history page shows how far the price has moved over months and years.
A simple way to decide
If you need the money or no longer want the item, sell when an offer is fair compared with today’s melt value. If you’re in no hurry, you can watch the price for a while, but set a price you’d be happy with rather than trying to catch the top. Some people sell part now and part later to spread the risk.
These are estimates and general information, not financial advice.
- LBMA: About LBMA daily auction prices
- World Gold Council: Gold market primer, market size and structure
- World Gold Council: Gold Demand Trends Q2 2026, outlook
Last reviewed November 1, 2026. This guide is general information, not legal, tax or financial advice.