Gold price development and current price

A gold chart shows you the current gold price in euros and the gold price trend over time per kilogram or per ounce(1oz = 1 troy ounce). This gold spot reflects the price on the international gold market. While the London Gold Fix used to be the basis for gold trading, due to the high volatility of the gold price trend, it is now common for traders to use a gold spot that is updated every second and corresponds to the current market price of the precious metal. Gold is traded on the world market in dollars (XAU/USD), which is why the exchange rate between the dollar and the euro also plays a role in the gold price. A weak euro makes gold more expensive in the eurozone, while a strong euro lowers the price of gold in Germany and Austria.

Gold prices in buying & selling

If you would like to buy gold in Austria or sell gold in the form of investment gold (gold coins and bars) or old gold(gold jewelry, dental gold, etc.), the prices of dealers are based on this general gold price.

However, current prices for gold coins, gold bars and old gold differ both when buying and selling gold, because in addition to the gold price, production and manufacturing costs as well as melting and recycling costs also have to be factored into the prices.

On our page on current prices at Gold&Co. you will find our buying and selling prices for old gold, as well as for specific gold coins and gold bars.

The London world market price

While gold derivatives, futures and options(paper gold) are mainly traded in New York and Tokyo, physical gold is traded on the gold markets in London, Hong Kong and Zurich.

The largest marketplace is undoubtedly London, where the world market price for gold - in US dollars per ounce - is determined daily on the London Bullion Market. In keeping with tradition, London Goldfix was negotiated twice daily by 5 major banks of the London Bullion Market Association (LBMA). In spring 2015, the London Goldfix was replaced by the "LBMA Gold Price". Since then, the price is no longer negotiated in a telephone conference, but is determined by 15 participating major banks via an electronic auction platform.

However, the LBMA gold fix is still set twice a day:

AM Fix: LBMA gold price in the morning at 10:30 am (GMT)
PM Fix: LBMA gold price in the afternoon at 15:00 (GMT)

The price at the afternoon gold fixing (PM fix) can be regarded as the daily price for gold, as this is also used by central banks to value their gold reserves.