Gold Price OZ
Welcome to Gold Price OZ - a site devoted to bringing you the latest gold price per ounce (Including K gold price, such as 24k, 22k, 18k, 14k, 10k, etc.), per gram and per kilogram in major currencies, that are updated every minute. The site also provides gold price history charts for the past 30 days, 90 days, 1, 5, 10 and 20 years, Gold Price Calculators and Gold Price Commentary. If you are investing for profit or retaining value, it is a wonderful idea to keep an eye on gold. Gold is a popular precious metal. Over many centuries it has been used as currency, jewellery and for keeping value. The currency code for gold per ounce is XAU.
Gold Price Per Ounce
1994.6 US Dollar
Bid Price: $1994.6
Ask Price: $1995.6
Day's Range: $1989 - $1995.5
Prices Updated: Nov 22, 2023 at 22:42 NY Time
What is the gold ?
Gold is the most popular precious metal accepted by everyone. It is a soft, dense, malleable and ductile metal with a bright yellow color, and its lustre is maintained without tarnishing in water or air. Its chemical symbol is Au. Gold is one of the least reactive chemical elements, keeping solid state under standard conditions. Throughout history, gold has been sought after by people, used as money and made into jewelry. Nowadays, more and more people are glad to hold gold that is not only used for gorgeous jewelry, or used in industry, but more commonly trading as a popular investment product.
How many types of gold investment products?
Of all the precious metals used as an investment product, gold is the most popular. Generally, investors buy gold investment products as a way of diversifying risk. Gold investments are held and declared in different forms, such as gold bullions, gold ETFs, gold options and futures, and so on. Different investment types carry different investment risks. However, no matter what type of gold investment is held, it is critically important for investors to keep an eye on the gold price.
What factors influence the price of gold?
Throughout history, the price of gold has varied but has always continued to rise. In very recent times, from 2011 to the end of 2013, the fluctuations in gold prices have been dramatic. Fluctuations in the price of gold are driven by supply and demand including demand through speculation. The price is also affected by the policy of central banks and the International Monetary Fund, the value of the US dollar, the state of the global economy, by war, by invasion and by national emergency.
What are the international major gold markets?
In order to establish rules designed to prevent market manipulation, abusive trade practices and fraud, the global gold markets are overseen and regulated by governmental and self-regulating organizations. Globally, there are four important international gold exchange markets, they are London Gold Market (London Bullion Market Association, abbreviated as LBMA), America Gold Market (CME Group), Zurich Gold Market (controlled by three banks - UBS, Credit Suisse and Union Bank of Switzerland) and Hong Kong Gold Market (Chinese Gold and Silver Exchange Society, abbreviated as CGSE). The Japanese gold market (Tokyo Commodity Exchange, abbreviated as TOCOM) is also important. By linking these markets, gold trading can be achieved within 24 hours of continuous trading in the worldwide network.
The London gold market is by far the largest global centre of OTC transactions. Its gold spot-price is fixed twice each business day at 10:30 am and 3:00 pm (London time) in USD, GBP, and EUR. London prices have a great influence on the world gold market price.
Which is the largest gold producing country?
Before 2006, South Africa was the world's dominant gold producer, followed by the United States of America, China, Australia, and Peru. More recently, other countries with greater land surface areas have surpassed South Africa. Since 2007, China has become the largest gold producing country, In 2020, the country produced approximately 464 metric tons of the metal. followed by Australia, United States, Russia, and Peru. South Africa sits in sixth position.
What is the use of gold?
According to GFMS as of 2012, a total of 174,100 tonnes of gold has been mined in human history. Currently, the world consumption of gold produced is about 50% in jewellery, 40% in investments, and 10% in industry. In industry, gold is commonly used in electronics, dentistry, commercial chemistry and other fields. Its characteristic of high malleability, ductility, resistance to corrosion and most chemical reactions, and conductivity of electricity have led to many more uses, including colored-glass production, electric wiring, and gold leafing. It is also used in the production of jewelry, as a store of value, and as a hedge against inflation. Some people also use gold in traditional medicines and as a decorative element in artwork and other cultural artifacts.